yes if the republicans win the economy they will swing the wealth so far to the right that the people will become so angry they will swing massively so far left we will get true socialism
Might as well get it embedded in this thread. It's a good video. Makes several very good points.
Quote:
In this country, broad-based prosperity has never trickled down from the success of a wealthy few. It has always come from the success of a strong and growing middle class.
The wealthy don't just stay wealthy. They increase their wealth. That increase had to come from somewhere, and the fact is that such increases *always* come at the expense of decreased real-wealth from everyone else.
Where your lowliest janitor can't afford to be your customer, you're stealing from him.
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We work together every damn day. --Jon Stewart
I am middle class and am much worse off than I was four years ago with the exception that the stock market has recovered. Of course its gains are not wealth, just paper but the gains do show that privatization leads SS in paper value.
Might as well get it embedded in this thread. It's a good video. Makes several very good points.
The wealthy don't just stay wealthy. They increase their wealth. That increase had to come from somewhere, and the fact is that such increases *always* come at the expense of decreased real-wealth from everyone else.
Where your lowliest janitor can't afford to be your customer, you're stealing from him.
One thing though... There are SOOO many "janitors" that cannot afford.... But will spend it anyway. So, is that stealing? Now, I agree if you are talking about someone forcing you to part with your money. I think it's pretty rare for the "wealthy" to literally rob someone of their money.
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"A society that puts equality ... ahead of freedom will end up with neither equality nor freedom."
Now, I agree if you are talking about someone forcing you to part with your money. I think it's pretty rare for the "wealthy" to literally rob someone of their money.
Money != wealth. Money's relationship to wealth is the inch's relationship to a rope. Money is a way to measure wealth, but it is not wealth itself.
It's quite common for the rich to leverage the desperation of the poor against their own self interest. They participate in, and perpetuate a system where the poor are compelled to undervalue their worth in order to survive. The rich hire a lot of workers and use their labor to earn a hell of a lot of money, and the rich then pass out a little money to the people who actually performed the work. That is the recipe for American manufacturing, retail sales, food service, etc. Pay a worker $8/hr, use them to generate $12 worth of net earnings.
Now, I don't begrudge anyone the right to turn a profit. But the growth of profits, CEO earnings, and the personal wealth of the rich has grown to levels that became unsustainable long ago.
Taxing the rich at higher levels won't increase tax revenue from employers. Decades of evidence show that tax rate is not significantly related to tax revenue. So, the only real effect we can get from adjusting the tax rate is how taxpayers react to it. A high tax rate entices businessmen to spend their money on deductible expenses. As a businessman myself, I can choose how much money comes out of my business and comes to me in profits. If tax rates on my personal income are low, I pull more money out and spend it on myself. When they're high, I spend more on payroll.
In this way, high tax rates increases the "velocity" of money - how fast it is spent after it is acquired. The higher the "velocity" of money, the faster the economy moves. A stagnant economy is a dead economy.
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We work together every damn day. --Jon Stewart
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