For the record, today we have ...
- Only 11.3% of America's workforce UNIONIZED.
- A 39.6% INCOME TAX rate for America's millionaires, with rates as low as 0%, 15%, or 20% if income is categorized as Capital Gains.
- TRADE POLICIES have encouraged U.S. firms to take U.S. jobs abroad, which has cost America's working class millions of jobs and crushed American cities in the process.
- AMERICAN BANKS are now "too big to jail" and are making a mockery of U.S. laws.
- The RICHEST ONE PERCENT are not only taking home about 25% of our nation's income, but income gaps are intricately tied to aging gaps. Guess which income group is living fewer years?
The transformation in America that we see above didn't just happen. Nor are the changes we have seen in America over the past 50-60 years the result of greater efforts from the rich, technological innovation, or magical developments in the market. Rather, favorable legislation (deregulation and tax cuts), regular bailouts, and the Greenspan Put are what's behind the transformation of the American economy and, unfortunately, the weakening of America's middle class.
Put another way, America's financial players aren't working any harder than they did 50 years ago. They're getting the U.S. Congress to grant them legislative and financial favors that insures they get a bigger slice of our economic pie. That's it.
- Mark
No comments:
Post a Comment