Dad2three
Gold Member
Thom Hartmann: How America Killed Its Middle Class
Not a big fan of Alternet.....but this one makes a statement I think begs a question.
Piketty is right, especially about the importance of high marginal tax rates and inheritance taxes being necessary for the creation of a middle class that includes working-class people. Progressive taxation, when done correctly, pushes wages down to working people and reduces the incentives for the very rich to pillage their companies or rip off their workers. After all, why take another billion when 91 percent of it just going to be paid in taxes?
This is the main reason why, when GM was our largest employer and our working class were also in the middle class, CEOs only took home 30 times what working people did. The top tax rate for all the time America's middle class was created was between 74 and 91 percent. Until, of course, Reagan dropped it to 28 percent and working people moved from the middle class to becoming the working poor.
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So, as we continue to let the rich just go nuts...what is it that isn't there to prevent them.
Why does the far right vote to protect the interest of the rich ?
The answer lies, in part, in the fact that the far left is no better. First, they suck off the rich like others.
Next, they won't make a rational case. They need conservatives to join them. And yet they, like some of the assholes on this board, do nothing but antagonize them.
And the rich just eat it up......
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This thread originally got moved to Europe because I led in with an article about the European middle class.
But the comparison is bright as the day is long.
I bash the left.
I bash the right.
Regardless, this is a huge issue in my mind.
Now, if the left starts squawking about how the rich screw them over...I'd ask how they get away with it. They only get away with it because the government protects them.
The right yells...hands off. But this article flies in the face of that.
The rich do not need defended. The rich, are the people who create jobs, who produce wealth, who make the economy go around.
Why do you attack the people who feed, clothe, and build everything you want in life?
I have to ask why you index to this position on my point of view.
People can become rich.
I want more people to be rich.
Somehow, my view of the world and economics says that in a well functioning economy.....
If there is 1,000,000,000 in wealth to be had, I would think that NATURAL economics would say that we should see
1,000 millionaires
not 1 billionaire.
What I am saying is that the way things are set up....NATURAL economics do not function because GOVERNMENT is a complicit ally to the rich in protecting their ability to continue to garner wealth.
GOVERNMENT is "We The People".
We are allowing this to happen.
First off, it's government duty to protect property rights. So in that aspect is most certainly is the job of government to defend the rich growing their wealth.
The moment you allow government to deny property rights to one group, they will be able to deny property rights to any group, including yourself. Look at Soviet Russia. Everyone thought that the communists would only take the property of the super wealthy..... when that wealth was gone, they started confiscating everything else. And when that was gone, forced labor in Gulags, was the natural result.
Same thing is happening in Venezuela. First they confiscated major international corporation property, then local corporations property, and now they are confiscating anything they want. When that runs out, who knows how far the socialist government in Venezuela will go.
And honestly, in a free-market capitalists system, the super wealthy can't 'monopolize' all the wealth in the country. If you go to socialized system, where government controls the wealth, they do. Chinese state owned companies, run by family members of Communist officials for 50 years.
But can you name the super wealthy US history? Likely not. Who here know the names Cyrus Field, Jay Gould, and Russell Sage? Likely none. But these are the "robber barons" of the past who supposedly controlled all the wealth in society. What happened? I thought they controlled all the wealth, and the government was assisting them?
Apparently they didn't control everything, and apparently the government didn't assist them.
Lastly, there is no reason to assume that in a natural economic situation, that we would see anything. That's all assumption, and wrong.
In a free economic situation, those with more abilities will get paid more, than those without. Those who choose to do things in high demand, will get paid more than those who choose to do things with low demand. And those who work more, and work smarter, and work harder, will get paid more than those who work less, work easy, and work unwisely.
In short, if everyone does high value jobs extremely well, then you will see dozens of millionaires. If only few do so, and most sit around on welfare waiting for government to fix their lives, then you will see a few billionaires and dozens of poor people.
Ironically, our system better matches what you claim it should be, than any other. You look at China prior to 1978, and what you describe as bad, is exactly what they got. Just a few people at the top of the government, and state owned companies, living like royalty, while 63% of the country lived impoverished, at $2 a day.
Our system has allowed more people in our country to be wealthy, than any other system. We have the largest number of wealthy individuals relative to population, than anywhere else in the world. You have a better chance of being a billionaire in the US, than you do in any other country.
And quite frankly, if you earn $31,000 a year, you are in the top 1% of wage earners in the entire world. So in all honestly, complaining about the system that affords you a luxurious life style that 99% of the planet can only dream about... just makes you a spoiled brat. I have no problem with the wealthy, and no problem our system. Go live 1 year in South / Central America, Eastern Europe, most of Asia, and then tell me how horrible our system is.
YOU KNOW CONservative economics is a failure when you MUST compare it to the 3rd world nations!
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LYING POS
The 15 most billionaire-dense countries
1. Monaco
Number of billionaires: 3
Population: 37,800
Population per one billionaires: 12,600
13. United States
Number of billionaires: 536
Population: 321,369,000
Population per one billionaires: 599,569
EVEN IF THE GOALS WAS TO BECOME A BILLIONAIRE YOU DUMBFUKK
Countries ranked by billionaires in proportion to population - Business Insider
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