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BS. Reaganist tax rates and policies have done this DUHHHHHHH.....RWers know NOTHING, it appears...Capitalism in the US just recently created The Bush Great Recessoin, and 20 trillion dollars of debt. The US has a president that hands out government jobs to his friends and family like candy on Halloween. He colluded with a foreign adversary to fix the US election. And he and his allies in Congress are working on a tax cut that will cut taxes on the poor by $40 but cut taxes on wealthy people by $1,000,000.
Yeah that shit is working like a well oiled machine in America.
All successful governments are a mix of Capitalism and Socialism. There aren't any Americans volunteering to pay for and pave their own roads, they expect the Society collectively to pay for that. One example out of thousands. People don't equate roads with 'socialism' because they've always been there. Someone has to pay for them, and 95% of the population could not afford to pay for even a 1/4 mile of a paved road.
Everyone that believes they are pure capitalists you need to pry your lips off the socialist teet first. The video in the OP is simple minded and directed at simple minded people. Corruption leads to debt and disaster? Yeah no shit, just check with Wallstreet in September 2008.
If you pay more in taxes, you get a greater tax cut in raw dollars. Define "poor". Most poor and even lower middle class pay no taxes. If they got a tax cut it means they were paid even though they did not pay taxes. I have no problem with that just like I have no problem with the high income earners netting more dollars in a tax cut vs. what get because they are already paying more dollars than I do in taxes. My problem is the Left simply uses this as a vehicle to stir up class warfare to make US more like the failed socialist economies around the world. We have limited socialism. Let's keep it that way.
I agree on the limited socialism. Nobody in politics is even promoting 'socialism'. Bernie Sanders calls himself a socialist but he isn't. He's not advocating for the government to control all the means of production. He's talking about social justice and equality in specific areas like healthcare and I agree that it is a right for humans to have access to adequate healthcare. The newer generations believe this as well. I'm not for the nationalization of industry or business. Certainly they need to be regulated because all human systems move towards concentrating the wealth in the hands of a few at the expense of the many. Just as with a nuclear reactor you need control rods or the reaction burns itself up. This is true for all human systems through all of history. Left unchecked they give us The Bush Great Recession of 2008. Greedy people do not police themselves. They in fact look for never ending ways to cheat and manipulate the system in their favor.
Good response. When you site concentration of wealth in the hands of the few, that's what happens in unchecked Socialism. A true, locked in 1percent is created.
The Demise of the American Middle Class In Numbers.
Over the past 35 years the American dream has gradually disappeared. The process was slow, so most people didn’t notice. They just worked a few more hours, borrowed a little more and cut back on non-essentials. But looking at the numbers and comparing them over long time periods, it is obvious that things have changed drastically. Here are the details:
1. WORKERS PRODUCE MORE BUT THE GAINS GO TO BUSINESS.
Over the past 63 years worker productivity has grown by 2.0% per year.
But after 1980, workers received a smaller share every year. Labor’s share of income (1992 = 100%):
1950 = 101%
1960 = 105%
1970 = 105%
1980 = 105% – Reagan
1990 = 100%
2000 = 96%
2007 = 92%
A 13% drop since 1980
2. THE TOP 10% GET A LARGER SHARE.
Share of National Income going to Top 10%:
1950 = 35%
1960 = 34%
1970 = 34%
1980 = 34% – Reagan
1990 = 40%
2000 = 47%
2007 = 50%
An increase of 16% since Reagan.
3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.
The savings Rose up to Reagan and fell during and after.
1950 = 6.0%
1960 = 7.0%
1970 = 8.5%
1980 = 10.0% – Reagan
1982 = 11.2% – Peak
1990 = 7.0%
2000 = 2.0%
2006 = -1.1% (Negative = withdrawing from savings)
A 12.3% drop after Reagan.
4. WORKERS ALSO BORROWED TO MAKE UP FOR THE LOSS.
Household Debt as percentage of GDP:
1965 = 46%
1970 = 45%
1980 = 50% – Reagan
1990 = 61%
2000 = 69%
2007 = 95%
A 45% increase after 1980.
5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.
Gap Between the Share of Capital Income earned by the top 1%
and the bottom 80%:
1980 = 10%
2003 = 56%
A 5.6 times increase.
6. AND THE AMERICAN DREAM IS GONE.
The Probably of Moving Up from the Bottom 40% to the Top 40%:
1945 = 12%
1958 = 6%
1990 = 3%
2000 = 2%
A 10% Decrease.
Links:
1 = ftp://ftp.bls.gov/pub/special.requests/pf/totalf1.txt
1 = https://www.clevelandfed.org/Research/PolicyDis/No7Nov04.pdf
1 = Clipboard01.jpg (image)
2 – http://www.whitehouse.gov/omb/blog/09/04/27/CongratulationstoEmmanuelSaez/
3 = http://www.demos.org/inequality/images/charts/uspersonalsaving_thumb.gif
3 = U.S. Bureau of Economic Analysis (BEA)
4 = Federated Prudent Bear Fund (A): Overview
4 = The Fed - Financial Accounts of the United States - Z.1 - Current Release
5/6 = 15 Mind-Blowing Facts About Wealth And Inequality In America
Overview = http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts
You completely ignore the economic impact of overregulation, legal liability, unions, and taxes.