New Deal v. JOBS

Discussion in 'Politics' started by georgephillip, Mar 18, 2012.

  1. georgephillip
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    georgephillip Gold Member Supporting Member

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    "The aftermaths of the Great Recession and the Great Depression produced sharply different changes in U.S. incomes that tell us a lot about tax and economic policy.

    "The 1934 economic rebound was widely shared, with strong income gains for the vast majority, the bottom 90 percent.

    "In 2010, we saw the opposite as the vast majority lost ground.

    "National income gained overall in 2010, but all of the gains were among the top 10 percent. Even within those 15.6 million households, the gains were extraordinarily concentrated among the super-rich, the top one percent of the top one percent.

    "Just 15,600 super-rich households pocketed an astonishing 37 percent of the entire national gain.

    "The different results in 1934 and 2010 show how a major shift in federal policy hurts the vast majority and benefits the super-rich."

    The richest get richer | David Cay Johnston

    Maybe FDR should have built the first boiler rooms instead of Hoover Dam?
     
  2. occupied
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    occupied Gold Member

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    Mission accomplished, I guess stagnant wages were just too good for the likes of us.
     
  3. georgephillip
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    georgephillip Gold Member Supporting Member

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    It's hard to see how "choosing" between two parties who depend on the 1% to fund their election campaigns will ever translate into significant gains for the 99%.

    "NEW POLICY BOOSTS THE RICH

    "Starting in 1933, government policy aimed to improve the lot of the vast majority through such policies as massive government-financed jobs and construction programs. But since 1980 policy has focused on helping the already rich get richer still with such policies as lower taxes and fewer audits."

    The richest get richer | David Cay Johnston
     
  4. georgephillip
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    georgephillip Gold Member Supporting Member

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    "Officially called the Jump-Start Our Business Start-Ups Act, it calls for reopening our capital markets to exciting new start-ups by ridding protections for investors and stripping away disclosure requirements for smaller companies..."

    "John Coffee, a Columbia Law professor, has hailed the bill as 'the boiler room legalization act.' And rightly so.

    "Boiler room operations were one of the unsung job creators of the 1990s, producing some of America’s greatest penny stocks and boom times for yacht makers and coke dealers."

    A Jobs Bill That Will Provide Help, but for All the Wrong People - NYTimes.com
     

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