Wyatt earp
Diamond Member
- Apr 21, 2012
- 69,975
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Americaās War on the Poor
The poorest of the poor in the United States arenāt just the least wealthy people in this country; they are also some of the poorest people in the entire world. Even though the United States is one of the richest countries in the world, the bottom 1% of our citizens make about the same amount of money as the poor in Haiti, Mozambique and Ethiopia. The difference is that in poorer counties, people can often live on this amount of money. The poorest citizens of the United States donāt just face the social stigma of having to be below Western standards of living ā they also canāt afford to feed their families.
If you think the divide between the rich and the poor is growing, youāre right. The incomes of the neediest Americans have risen only minimally during the past two decades. The same amount of people that lived on $15,000 a year or less in 1989 live on that salary today. However, the number of people that make over $200,000 a year has risen by over 60 percent.
The Failure of the Trickle-Down Effect
One of the reasons wages for the poor have only risen marginally in the past several years is our failure to accommodate those in poverty when coming out of a recession. In the 1980s, Ronald Reagan and similarly-minded politicians spoke of the so-called ātrickle-down effect.ā What they meant by this was that if you simply took care of the rich, their wealth would trickle down to the lower classes. However, the increasing divide between our rich and poor is proof that this hasnāt worked.
Your messiah had 8 years to address this problem what happened?
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Unfortunately, our President has little control over the distribution of wealth
He did manage to repeal the Bush tax cuts for the wealthy, raise minimum wage in federal contracts and expand Medicaid
Attempts to increase minimum wage nationwide and eliminate some incentives directed at the wealthy were of course blocked by Republicans
I love it when Republicans do everything in their power to enrich the wealthy and then mock Obama about distribution of wealth
You forgot about the 85 billion a month free money out of thin air?
Lets refresh your memory shall we?
MAR 6, 2014 @ 10:18 AM16,462 VIEWS
The Federal Reserve Is Enabling Obama Out Of Control Spending
I use economic insight to analyze issues and critique policy.
In the past twelve months the federal government has increased the national debt held by the public by $697 billion while the total debt has grown by $820 billion. Since revenue collected by the government is at record highs, these enormous deficits must be due to spending. Among the many extraordinary measures taken by the Federal Reserve over the past five or so years are several that are serving to enable President Obama and Congress in continuing to spend with little, if any, restraint. If we hope to get spending under control, it would help if the Fed stopped encouraging so much wasteful spending.