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Many college graduates became rich because of Reagan. There were a LOT of jobs during the Reagan era.
Reagan is probably the BEST U.S. president. The only people who didn't get rich are the ones sitting on their behind waiting for government handout.
What exactly do you call tax breaks for the rich?? I'll give you a clue: government handout. I'll admit there are a lot of people who don't work for various reasons. There is no significant number of people who "wait for a handout". That's absurd.
How can I save $40,000 or more without a college education? Lets say I work at Wal-Mart and make $10/hr. If I paid NO taxes, I'd make about $20,000/year. Ok, I'll work 2 jobs. But then when will I be able to go to school and study?
People also became rich during the Clinton era - probably more than in the Regan era. Plus, Clinton left a surplus and Regan did not. We all know now that too much debt is bad.
Trickle down assumes that the rich will reinvest in the US. Money has no boundaries and with most economies stagnating, the rich will likely invest where there is longer term growth (BRIC economies?) or simply keep the money if there is no good investment available. At this point in time, trickle down may not be a good answer.
The crying need is to inject more liquidity into the worldwide system now - and that is why we grudgingly allowed the powerful to bail out the rich. This gave us breathing room. We can talk about economic theories till the cows come home, but I think the course of action will be clearer sometime next year after we avoid the current crisis.
We have a credit card crisis looming for next year. It will be bad but may not be as bad as presumed since most banks have reserved significant amounts for "bad debts" which will cushion the blow.
I think we are in for hard times for at least 2-3 years regardless of who is president. If you must make this political, remember the un-needed Iraq war will cost us the same as the bailout. Also remember that the total per capita burden for taxpayer is about $13000 ($7000 for Iraq assuming $1 trillion, $800 billion for bailout). In light of this, PLEASE do not tell me that Bush lowered my taxes. Bad judgements cost a lot and from what I have seen, McCain seems to have extremely lousy judgement.
In Illinois he sponsored the "Welfare to Work" program that subsequently cut welfare by 80%. I think there is a broad misunderstanding that Dems somehow want people to avoid employment, but that is simply not the case.
Thanks for the info -- I will look into it, and that is a definate step in the right direction.
My experience with welare comes from two sources. The first is my mil who works for the government in taking care of the elderly within their homes. The setup sounds good -- lets keep the elderly in their homes as long as possible by contracting their relatives to care for them. The problem is that now there are many men and women ages 25-60 in the program that 'need' help. Of course, their disability is vague and as a nurse, my mil is not allowed to bust them for faking. But they do get paid.
My other experience is from my dhs cousin. We have welfare to work as well. She has three kids by different dads and has a burglary conviction and only sopardic contact with her kids. But, she is still 'mom' (so says the state) and welfare is hers. This is how she and her friends play the system. The rule is that you must work a certain amount of days in the year to remain elligible, she does. But on day 90 (or 120) she quits her job and she starts back at zero and again is eligible for benefits. She has been doing this for years.
The corruption is endemic, and my mil and the other nurses have complained to up the chain of command to our state senators. Noone wants to know about because to try to change the system is tantamount to saying "we don't like the poor", and there goes a reelection bid. It is all about the power, not about the good of the country.
Was it voodoo economics or Reaganomics?....I guess it's all the same and it DOES NOT WORK.
Yeah, the so-called "trickle down" to the workers so that they share in the prosperity of the company doesn't work, because the money goes to CEO's and to profits - NOT the employees.
Did we really think it would work - that owners of these fat companies would actually pay their workers a decent wage, IF they could keep the money themselves??
“Trickle down economics” is a utopian fantasy. It’s not the American way. Why? There’s no reason for money to “trickle down.” In America, we have “step up economics.”
What is “step up economics?” That’s when Americans step up and take responsibility for themselves and improve their skills via college, trade schools, apprenticeships, etc. Increasing your worth in the marketplace is the way to get a bigger piece of the pie. If you want it, earn it. That’s the American way.
Those people who simply float through life without post-secondary skills and expect prosperity to “trickle down” will only get the scraps from the table of prosperity.
That’s why I’ll be voting Libertarian!
Exactly! But, who creates the jobs in this country? Big and small business who are already taxed to death. Poor people don't create jobs or invest. They squander.
How can I save $40,000 or more without a college education? Lets say I work at Wal-Mart and make $10/hr. If I paid NO taxes, I'd make about $20,000/year. Ok, I'll work 2 jobs. But then when will I be able to go to school and study?
A college education does not have to cost $40K. People should go to the college they can afford.
Many students work part time and go to school part time. I did this. Also, many majors have the opportunity to enroll in a co-op program or internship program. These jobs provide pre-graduation experience in the student's field and usually pay far better than a regular part time job. I also did this while in school.
Students who study hard and perform well often get academic scholarships. I got several over the course of my college career. The key is to apply for every single scholarship you can find! (BTW: Many of these I was not eligible for because I am a white, American, and a man.)
Also, you seem to assume that people are entitled to go to school full time for 4 years. This isn't reality. I did not graduate in 4 years because I had to work during school. It can be done, I’m living proof! Actually, the internships I was able to get helped jump-start my career after graduation.
A couple years after I earned my Bachelor's degree, I went back for a Masters degree to stay ahead of much of the competition in the job market. I simply cannot imagine my life without my college degrees. It was literally one of the best decisions and sacrifices I'll ever make.
What exactly do you call tax breaks for the rich?? I'll give you a clue: government handout.
Taking less (a smaller negative) is not the same as a handout (a positive.)
Learn the difference between positive and negative numbers and this will make sense to you.
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