How Wealth Inequality Spiraled Out of Control

Discussion in 'Political Opinions & Beliefs' started by Patricio Da Silva, Jan 1, 2022.

  1. Giftedone

    Giftedone Well-Known Member Past Donor

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    Since you have no idea who these Oligopolies are for the most part ( did you not claim not to believe in such things ?) .. your commitment to avoid funding is mute. Sill making use of a bank account I presume ? .. and what ever few could manage such a thing .. makes zero difference in the grand scheme of things .. so a pointless exercise x 2.

    Good luck avoiding the Oligopolies driving you into indentured servitude -- and even if you do manage .. pointless exercise .
     
  2. Marine1

    Marine1 Well-Known Member Past Donor

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    The U.S. tax system “exerts too heavy a drag on growth” Kennedy stated in an address to the Economic Club of New York on December 14, 1963.

    “America’s rise to world leadership in the century since the civil war,” he continued, “has reflected more than anything else our unprecedented economic growth,” a growth essential to national security and rooted in private enterprise, economic freedom, limited government, and growing levels consumer expenditures and business investment, key sectors of GDP. ( Sort of sounded like Reagan didn't it? Marine 1)

    Devising a kick-start to economic growth, Kennedy outlined the function of government and central role of private spending. “The federal government’s most useful role is not to rush into a program of excessive increases in public expenditures, but to expand the incentives and opportunities for private expenditures.”

    By means of the denigrating label “trickle-down” economics, some argue that Kennedy’s reforms in the 1960s, and Reagan’s tax cuts and deregulation in the 1980s, overloaded benefits to business and top income earners while bottom members of society received only a trickling down of petty benefits.

    To the unemployed and underemployed on the receiving end of the 11.2 million jobs created during the Kennedy-Johnson terms, more than double the 4.8 million jobs created during Eisenhower’s preceding two terms, the belittled “trickle” was more like a tidal wave of higher incomes, less hardship, and more upward mobility and economic security.

    Similarly during the Reagan presidency, 1981-1989, the Economic Recovery Act of 1981 cut the highest marginal income tax rate on top earners from 70 percent to 50 percent, reduced estate taxes and lowered business levies.

    Five years later, the Tax Reform Act of 1986 cut the highest marginal income tax rate from 50 percent to 28 percent and the corporate tax rate from 50 percent to 35 percent.

    In “Which President Created the Most Jobs,” economics columnist Kimberly Amadeo ranks job creation by presidential term from Franklin Roosevelt through Obama. “For a two-term president, the percentage winner was Ronald Reagan with a 16.5 percent increase in jobs.” Read More) Presidents and Economics - PA Town Hall
     
  3. Marine1

    Marine1 Well-Known Member Past Donor

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    Wages under Reagan were higher than under Carter, but they could have been much higher if Carter hadn't started deregulation that wiped out more union jobs than any time in our history and then on top of that signed a law forbidding all Federal employees from striking over wages and hours. Both Kennedy/Johnson started trickle down economics, but only Reagan got trashed for it and both did very well doing it.
     
  4. Patricio Da Silva

    Patricio Da Silva Well-Known Member Donor

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    Wrong:

    https://en.wikipedia.org/wiki/Jobs_created_during_U.S._presidential_terms

    Among the Presidents from Jimmy Carter to Donald Trump, President Bill Clinton created the most jobs at 18.6 million, while Ronald Reagan had the largest cumulative percentage increase in jobs at 15.6%.

    There is a difference between total jobs created and a percentage increase, which was low hanging fruit for Reagan, given he jumped in right after the misery index. Getting rid of the misery index was the Fed's job. Who was the chairman of the Fed curing Reagan? Paul Volcker. Who appointed Paul Volcker? Jimmy Carter, towards the end of his presidency. So, call Jimmy a late bloomer, and a generous man letting Reagan take credit for it and not raising a stink about it.

    His WH also had another high stat, the most indictments and convictions, almost as much as Trump, Funny thing, they are both republicans.
     
    Last edited: Jan 14, 2022
  5. Marine1

    Marine1 Well-Known Member Past Donor

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    She was talking of the highest percentage increase. Although she didn't word it right at first. Are then blaming Paul Volcker for trickle down economics but the good job creation?
     
  6. Marine1

    Marine1 Well-Known Member Past Donor

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    And what were the ones for Trump and Reagan? Most for petty lying or crimes committed before joining Trump. Most of them for Reagan was for raising money for the Contras, that Congress had backed for two years and then got wet feet and cut them off, afraid they might blow up a Soviet ship unloading in Nicaragua. The Contras were fighting the communist backed country which they belonged to, too get the Soviet influence and arms out of Nicaragua. Reagan was determined to keep the Soviets out of the Americas and away from our back door where they could launch an attack on us before we would have time to respond.
     
  7. Marine1

    Marine1 Well-Known Member Past Donor

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    I'm still trying to figure out why Democrats get away with everything and never punished. One Congressman dated a Chinese spy for years and he was on the Intelligence Committee, not taken off after it was found out. FBI lied about the dossier that started the investigation on Trump, being being correct and verified. No charges brought up on them. Hillary had 32,000 E-mails she was ordered to turn over to the FBI, but destroyed her E-mails instead. She wasn't punished. Could that be if charged she wouldn't have been able to run for President? Obama wanted her to win bad to carry on his legacy. Roger Stone was arrested at his home by a 29-man, 17-vehicle tactical unit of the FBI in the middle of the night for lying and CNN was there. What FBI agent tipped CNN off of the arrest? Was it necessary to have that many agents to arrest an old man for lying? No one was charged. They tried to charge Trump of conspiring with Russia to tilt the election to him. They found no Americans were involved. But Hillary paid 11 million dollars for a dossier shown not to be true that used a British agent that was suppose to get his information from Russian sources to tilt the election to her. No charges. Hillary knew her bathroom server was illegal and a risk to national security. But she wanted to keep her crimes secret. No charges. John Kerry and his negotiations with the mullahs after Trump canceled the Iran deal and Kerry was out of office was ignored. Strzok disregarded his oath of office and used his power to attempt to destroy Trump. In fact, he guaranteed he’d destroy Trump. Then in testimony before Congress, he smirked with more arrogance than any Covington kid could ever muster. Yet, no arrests. Did I mention the newly elected anti-Semitic Islamic congresswoman who married her brother to commit immigration fraud? No charges. Comey broke the law by leaking Trump memos, No charges filed.
     
  8. StillBlue

    StillBlue Well-Known Member

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    Wow!

    Have you ever thought of a career in fiction?
     
  9. Marine1

    Marine1 Well-Known Member Past Donor

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    Last edited: Jan 14, 2022
  10. Patricio Da Silva

    Patricio Da Silva Well-Known Member Donor

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  11. Patricio Da Silva

    Patricio Da Silva Well-Known Member Donor

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    Reagan was a couple of things, but the big one was Iran-contra. Trump we all know. There was no significant Soviet threat in CA, sorry. The regime change policies are no longer an acceptable US foreign policy.
     
    Last edited: Jan 14, 2022
  12. Marine1

    Marine1 Well-Known Member Past Donor

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    When the enemy is right on your back door it is, with little chance to react to a sneak attack, which Reagan was trying to prevent from ever happening. Did the same in Grenada. Don't need Soviet advisors to build a runway and builders were Cuban and Cuba has many runways and you don't construct a runway with rifles doing it. Why do you think Russia has over a hundred thousand troops on the border with Ukraine? What did Kennedy do with Cuba and the Soviets?
     
    Last edited: Jan 14, 2022
  13. Marine1

    Marine1 Well-Known Member Past Donor

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    Well tell me how you change bad trades for good or better trades without tariffs? They sure not going to give their advantage up willingly. Do you think taking the embargo off Cuba will change the attitude of the Castro, where he will allow free trade, hold elections and give the people more freedom?
     
  14. crank

    crank Well-Known Member

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    I haven't been a rent slave in 35 years, and haven't needed to work in 20.

    Of course you would say it's pointless. All those looking for a workaround say that. Anything to avoid walking the talk.
     
  15. Giftedone

    Giftedone Well-Known Member Past Donor

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    Speaking of "Pointless"
    Why would you think that your personal experience is relevant to the overall wealth inequality equation ?

    You then follow with some trope "walking the talk" - as if this has relevance to something ?!

    What is being worked around ? There is no "Point" anywhere here .. that relates to price fixing by Oligopolies .. how you going to work around that mate .. Walking what talk ?

    This is not walking anything other than the path of denial.
     
  16. spiritgide

    spiritgide Well-Known Member Past Donor

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    It's obvious you are neither rich or well off, or you would know that's a load of BS- the kind of thing believed by people who can't cut it for themselves, but don't want to hear that. Easier to believe successful people must have cheated or you would have as much money as they do. After all, you exist so you are entitled to what they have??

    10% of the taxpayers pay 70% of the taxes. That is SEVEN times what an equally dived share would be. 50% pay NO TAXES. That means that they not only don't pay- but what they get in the way of government services is free, so they are totally subsidized, not only not paying, but still getting all the services.

    I'm not rich by most guidelines, but I'm financially secure. Even though I'm old, I'm still earning and paying. My taxes exceed the average person's annual income, yet I take nothing from government or anyone else that I haven't earned of paid for- and that has been true all my life. How exactly does that constitute impoverishing the working class?

    The "working class" is often portrayed as victims. I realize that is convenient, but it's also Bovine Excrement.
    IF you work for someone-
    YOU ARE A SELF-EMPLOYED BUSINESSMAN, A PERSON WHO SELLS HIS SERVICES TO A CUSTOMER FOR AN AGREED ON PRICE AND AGREED ON TERMS.

    YOUR EMPLOYER is your customer.
    When you are a customer- you want the most for your money. Quality products and services, on time. WHY should your customer expect less?

    I've been an employer for over 50 years. I have never failed to pay an employee as agreed- and if I did, the government would help that employee collect.
    I've been shorted by employees thousands of times- paid for standing around wasting time, for botching jobs that cost us money and customers, for ruining materials, and much more.
    The governments rules that protest employees from employers are long and demanding, with strong penalties.
    The rules for employees- DON'T EXIST. Nothing protects an employer from a dishonest or poor employee. You can terminate them- but you still have to pay them for time on the clock, even if they were setting fire to your store at the time.

    If you actually believe your own position, then obviously you are missing the opportunity of a lifetime.
    Since employers make all the money while employees do all the work- you obviously need to become an employer!!

    Do it now, it's never been easier. Take a second mortgage, gather all the money you can and jump in. Hire people, get rich quick. All that opportunity also provides you with a free education. You won't get a diploma, but you will certainly learn a great deal. Go for it!! Hell, you will be filthy rich by this time next year, by exploiting your employees.
    Let me know how that works out for you.
     
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  17. spiritgide

    spiritgide Well-Known Member Past Donor

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    "Wealth inequity"- meaning, you have more than I have.

    This year, we both plant gardens.
    You weed, fertilize and maintain yours.
    I watch mine from the porch.
    Your garden thrives and produces a good crop.
    Mine suffers as the weeds thrive, and produces perhaps a fourth of what yours has- and of lower quality.

    The result is a crop inequity. Since our crops are our income, our source of sustenance- they are also our wealth.
    Thus, we have a wealth inequity here; and that is obviously unfair.
    IF we are to restore equity- we look at the total production of both gardens and divide equally, so we both have the same wealth.

    I'll be coming for my share of your crop soon. Have it ready. Smile, knowing you are doing your part to keep society "equitable".
     
  18. crank

    crank Well-Known Member

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    When enough of us walk the talk, change happens. We all have that decision to make for ourselves, regardless. There are no passes for the tired excuse that one person can't do anything - no one over the age of eight is buying that cop out.
     
    Last edited: Jan 16, 2022
  19. crank

    crank Well-Known Member

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    Well put!
     
  20. Melb_muser

    Melb_muser Well-Known Member Donor

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    What about automation? Many jobs aren't coming back.
     
  21. Melb_muser

    Melb_muser Well-Known Member Donor

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    Therefore it's in your interest that your neighbours crop also does well. A society is born!
     
  22. spiritgide

    spiritgide Well-Known Member Past Donor

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    Yes, I am interested in my neighbors doing well- and I jump in to help when it's appropriate. I also stand back when it's not, so that they learn. In this case, assuming they had any intention of learning, they would see how tending your garden increased the quality of life and wealth, thus they would gain the knowledge that it is important for them to do so. However if I help under the circumstances described- they learn that sitting on the porch works, that actual productivity isn't necessary- because one can simply sit on their backside, and then eat somebody else's lunch.....

    So in the best interests of my neighbor, I teach them that they should depend on themselves, so they can be independent and free. That's far better for everyone.
     
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  23. spiritgide

    spiritgide Well-Known Member Past Donor

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    While its true that automation changes things and eliminates jobs, it also creates jobs, and it lowers the cost of production- and the prices you pay for the things you want in life. We aren't short of jobs; we are short of capable, willing workers. The ultimate resource is people, but they have to advance too.
     
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  24. Giftedone

    Giftedone Well-Known Member Past Donor

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    We already went through this pontless - damned if you do .. damned if you dont idea .. "When enough of us walk the talk"

    And when enough insects fart in the same direction --- the Elephant will still stand .. "There are no passes for the tired excuses" of one who can't understand the basics --- no cure for - >>

    What part of "Pointless did you not understand the first go round - you going to round up enough folks to stop buying Gasoline - OK - so how many folks do you think that might be .. and how many people are going to give up their livelihoods -- quit job and so on ... to go along with your Brilliant' Scheme to sock it to the Oligopolies .. how many insects farting to make the elephant move - and like we don't already have like minded folks already trying the foolish and pointless .

    Oh .. and not to forget - at the same time you will have to stop buying food - using your bank account - you and all your bro's and Ho's that you manage to round up .. Hey .. we have Omish folks doing this .. go sign up .. let me know how things are going in a year ... cept Shart .. even those folks still use gasoline .. Power ... damn ..

    Go now .. and think about what you are saying a little before opening mouth.
     
  25. crank

    crank Well-Known Member

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    Learn a new trade.
     
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