destroy capitalism ??
Prosperity is the result of healthy circulation of currency where the vast majority have robust purchasing power. When wealth fails to circulate but is dammed up by a concentration at the top, the economy falls and results in depression or severe recession. When the rich accumulate an overwhelming portion of the wealth, their house of cards comes tumbling down because there remains few to buy the goods sold by the wealthy to sustain the lifestyle.
Sure, other factors – such as over-speculation, Wall Street insider trading, anti-labor trade agreements, deregulation, and tax policies determined by greedy special interests – drive the economy into the ditch. But are not these all related? The world is loaded down with the cancers of Bernie Madoffs and Kenny Lays before downturn metastasizes itself into poverty, crime and collapse.
Consider this ominous fact: The average American’s income has remained flat since 1977 — 33 years ago, while the income of the richest 1% has more than tripled — 228% (Center on Budget and Policy Priorities). CEOs (corporate executive officers) incomes rose 400% in the 1990s to $10.6 million annual income per capita, while take-home pay for the average American, the 80%, rose zero percent.
Real life experience bears it out. Most Americans don’t enjoy the purchasing power they once did when a one-income family could raise children, purchase a home, car and college education for their kids. Now both parents work (if lucky enough to have a job) and still can’t keep up, resulting in less quality education, poor family relations, rising crime, and an eroding moral foundation.
No, it is ME!...and the dimbulb can't stand the facts! Like he was for the windfall gas tax against the big, ugly, greedy, capitalist oil co.'s as he would describe them....and as if the poor, and the middle class wouldn't pay the increased tax? The guy's an idiot.
You don't think the poor and the middle class pay the rich, the successful person's taxes? What is your point? ..that you are clueless about basic ECON 101 economics? Do you have a clue why a union leader just endorsed Newt? I didn't think so.
creek, i wondered how long it would take you to put your alias ghosanon to work....
The middle class and poor who vote Republican – against their own interests – are either incredibly stupid or they are daydreamers.
They are more concerned about the bedroom habits of other Americans, when they should be worried about their iown household.
They favor the politician who falsely claims he has Jesus on his side, when they should know Jesus admonished the rich about their selfishness.
They are more concerned about terrorists coming here, when they should be worried about their favorite politicians making war around the globe for oil wealth, and creating new generations of terrorists who hate us.
They believe what the Republiscum politicians and pundits tell them — and then watch mindless TV instead of educating themselves and facing reality about what their party politics is doing to undermine them, their families, their jobs, the environment, their country and its standing in the world.
Inflation is about 2% – so the middle class is merely treading water. The poor have lost (no surprise there).
The rich – if they had a conscience – would retreat to their cellars to count their gold in shame.
++Stop whining about the rich and become one, your problem is money management.++
I'm doing quite well, thank you. I'm complaining about the absolute stupidly of the wealthy for not doing more to get money into circulation, ever hear of a consumer driven economy ??
Here's a simple economic fact: the wider the prosperity the better the economy is. Think about this intuitively. Suppose you're in an economy with 100 people. 5 people are dong well and the other 95 people are doing fair or poorly. What are the chances of an economic expansion lasting for any period of time?
Now, let's increase the size of the prosperity. Suppose 50-60 people are doing well. The chances of that economy expanding are much better because there are more people who can buy and sell stuff. In other words -- this really isn't rocket science.
There is also the issue of political stability. Ever wonder how someone like Castro or Chavez could come into power? I was watching Fox news sometime over the last 6 months and the round table was discussing Latin Americas turn to the left politically. The commentators all had the basic opinion that Latin America had tried this before and it didn't work. If they wanted to try it again, so be it. But absent from the discussion was a question of why it had happened. No one addresses the fact that Latin America had high amounts of income inequality and that might have something to do with the rise of socialistic/communistic politics.
A new study on The World Distribution of Household Wealth by the Helsinki-based World Institute for Development Economics Research of the United Nations University was launched earlier this week. The study shows the richest 2% of adults in the world own more than half of global household wealth. The most comprehensive study of personal wealth ever undertaken also reports that the richest 1% of adults alone owned 40% of global assets in the year 2008, and that the richest 10% of adults accounted for 85% of the world total. In contrast, the bottom half of the world adult population owned barely 1% of global wealth, and it's getting worse, and people like creek are doing their part to keep it that way....
Speaking of Denmark. Years ago I was on the guided city tour in Copenhagen. The guide was actually a professor of the local university. He was complaining about ridiculously high taxes and has admitted that he needs to work two jobs in order to live more or less comfortably. Again, as I said in my previous post, I am not gonna try to make the socialist loonies on this thread to snap out of their pipe dreams. As far as I am concerned, the less fortunate = losers.
what would you know about it hawfaeces- you miserable ignorant aligator swamp denizen- Copenhagen does just fine with a greater percapita income than the USA, a comprehensive government health care program, National pension, civil rights for all guarenteed by the constitution and with massive private ownership of production and property- Also Puritan morality was abandoned about 1000 years ago as it well should have ben in the US- so stuff it - ok??
>>Also another of your stupid suggestions is for the taxpayers to go to Somelia. If all the taxpayers went to Somelia, who would pay for your liberal spending.? Liberals have absolutely no ideas except more taxes for the job creators. Unbelievable. >>
most of the wealthy are patriots and would do their patriotic duty and pay their taxes -you and hawfaeces would go to Somalia and not have to payh taxes- the place is made to order for tax crooks like you