Historians say whenever >75% of the wealth was held by <25 allow="" americans="" hold="" occurred.="" of="" population="" revolutions="" society="" to="">90% of wealth due to a global economy, media hegemony, and sheer stupidity. The Great Depression was a speed bump in the road compared to current "recession”. Unemployment then was 25%; in some states today, it's as high as 50%, although they now apply yardsticks that only count individuals seeking jobs or new unemployment claims, not those who’ve become ineligible or given up. Conservatives ludicrously blame 1930's on FDR. Pure greed went unchecked for decades preceding. Republican Coolidge, practically a tea bagger in his spending curtailments, precipitated crash. Because robber barons seized rule that deposed nobles once presumed, then stiffened class inequalities, fairness inevitably begat bread lines, social security, unemployment insurance, and welfare. Shows that social justice can gain ground through consensus.
Greed is firmly rooted in fear and ignorance; those who once suffered may never overcome anxieties. The avaricious few buffer themselves with media buffoons, deny responsibility, and lie about creating new jobs. Divisive talk erodes defense and generates panic. There would be plenty to go around provided it went around. But the rich want to press affluenza, presumed morals, sham religion, and their stingy agenda. These conditions are not conducive to innovation upon which markets thrive. Phishers troll waters wriggling cash lures. Surprises just how many are willing to forsake fairness and sell their souls. The same deregulation initiated by Reagan in the 1990s let bankers and brokers go rogue around globe. Will they forever get away with corporate bailouts, mortgage crises, and stock swindles? Seeds of discontent have already been sown. Could this be the catalyst that redistributes wealth? Turmoil teeters precipitously. Crossfire hurricanes
America’s debt, $17.7 trillion and counting, now exceeds its annual gross domestic product. Some borrowing is tolerable, but this is outrageous; deters both impulse and planned buying. During Clinton’s administration public debt shrank to "only" $4 trillion. Bush ran it up by $10 trillion with a war that even his commander-in-chief dad urged him to avoid. You can’t blame executive branch for what occurs, since Congress is always complicit. Succeeding presidents inherit deficits, but only a Republican House can do anything about it. Their consistent tactic has been to cut taxes for the wealthy, shift onus onto middle class, and stoke division among victims. Given decades to prove their approach, they've disastrously failed everyone except themselves. Their harm will define the 21st Century. Everyone owes $65,500. If you exclude 50% of citizens who don’t earn wages - children, elderly, green carders, privileged nonparticipants, and those incapable - each poor working slob has to pay back $131,000, her/his life’s savings probably, mostly to a few foreigners. Where did it all go? Child support accounts for 75% of welfare. After decades of contributing, retirees take Social Security begrudgingly doled out. Trillions for each went to defense contractors and furtive multinationals. Unless government continues to spill billions into bond/stock markets or dependent nations, they’d collapse. Retrogressive finance provides nothing of value and strangles industries that do. Enough! Kings George have had their day. Can't let this happen again.
Population growth has begun to slow. Who'd want citizenship under these conditions? With ever fewer to tax and unemployment creeping above 12% nationwide, they expect debt to grow beyond Godzilla. No wonder they’re urging people to work. Of residents, 12% are illiterate in any language, 13% older than 65, and 31% younger than 18; instead of remaining 44%, 57% work, which means some children, incompetents and retirees must serve. After decades of age, race and sex discrimination, those who’ve improved themselves can't find jobs. A $10.10 minimum wage won't impact issue, since those earning would remain below poverty line and tax threshold, which describes 1 in 6, 45 million. Nation’s workforce of 154 million includes 72 million women; this more than half who don't stay at home make up 46.7% of whole but receive 15% less than men for same jobs, which further limits expected revenues. An illegal underground exists outside government’s ability to repress. Anyway, income taxes won’t make a dent in debt. Feds only collect $2.8 trillion each year. Taxes could be restored to Eisenhower era highs, when 35% of total was paid by corporations and top earners, unlike 5% today. Revenues must be managed, too, but Congress gives it away, spends wildly, and threatens to default. By holding back 20% to buy down bar tab, getting even would take 31 years, provided government closes shop and doesn't engage in another war with typical monetary aftermath. If the most generous nation on earth goes bust, what of the rest?
If you don't have millions for campaigns, can you sway elections? Nobody who runs deserves your support. Rewards must be well worth it, or why would NRA back certain candidates and blacklist others? With energy, guns and oil, government could step in with regulations or takeovers. Long overdue are elections where all candidates only get to spend the same fixed amount from general treasury, no lobbyists or PAC money. Don't bother waiting for that bill. Omnibus Jobs Bill drafted in late 1990's languished under Bush. Meanwhile, economy swooned while minor tax cuts mollified angry populace and transferred fortunes into friends coffers. Nobody noticed as interest rates on plebeian deposits nosedived from double to fractional digits. Someone benefited from the $10 trillion that disappeared after stock market plunged. Retirement accounts sequestered trillions from circulation for bankers and corporations to grab. Depositors get principal and pennies after inflation robs value. The desperation this breeds has fangs, fire and horns.
Labann is no economist or essayist, but who is? Fewer than ever understand such complex issues. No system anyone has yet applied works. Every time conservatives get the least edge, disasters occur. Insanity defends debacles. People now see conservatism for what it is, a downward spiral, as is liberalism and whatever one-sided extremism you wish existed for your personal gain. Merely tolerated, you don't live alone; others have different views they'll defend to death. You never earned a penny without approval, never succeeded without society allowing it. Assets can be seized in an instant. You're no more in control because you can fire and hire than someone who can organize unions. Everyone is subject to same laws and regulations, though they are selectively enforced. If all boats float on a rising tide, all hit bottom when ocean evaporates. Why rely on a lame analogy? Negatives are clearly understood. Are there any positives to pleonexia? Only one: Incentives never surpass necessities as a motive. People ought to be imagining how everyone can flourish rather than how much they can stash. Better to invest in diversity and innovation. Time for progress in which all thrive. Amassing assets will go out of style when enough people understand how this best serves self interest. Distributive justice now!
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