Britain is sure giving us a preview of the chaos America will have if the MAGA Republicans gain power in our next two elections. The tax cuts of 2016 showed Reaganomics never works and never will. What we're seeing in our economics today is greedy corporations who have no incentive to share the wealth with the middle class. While corpora…
Britain is sure giving us a preview of the chaos America will have if the MAGA Republicans gain power in our next two elections. The tax cuts of 2016 showed Reaganomics never works and never will. What we're seeing in our economics today is greedy corporations who have no incentive to share the wealth with the middle class. While corporations are free to raise prices to maintain a gluttony of profit, middle class workers receive no cost of living increase. Corporations don't seem to realize they are biting the hand that feeds them since capitalism is based on the consumers ability to buy. Today's capitalism is about profits to shareholders while starving the consumer and hollowing out the middle class. Economics now is about moving money upward in the food chain of income disparity. This is all moving toward America becoming a failed state unless we can turn this around! President Biden is on the right track by building wealth from the bottom up and the middle out. We, the People, all of us this time sharing the wealth !
“Corporations don’t seem to realize...”, they most certainly do realize what they are doing and they are laughing all the way to the bank. Inhumane treatment of those who consume their products at any cost. I agree with you, Cathy, that Biden is trying to build the country back up again but if we don’t do something about the evil takeover of the Pro-Rape Party, we are doomed.
I'm going to do my part by holding the entire Republican Party accountable for the evil they are unleashing on the rest of us by vowing to not vote for any Republican - local, state and federal level. We, the People, all of us protecting and enjoying our Freedoms this time!
My whole family made that decision a long time ago, for the simple reason that the republican party in general failed to stop Trump when they could have, and then went on to make excuses for what he did. Many of them still are, and those who have spoke out have been sidelined by the Republicans themselves. There is no such thing as a moderate Republican anymore, for the simple reason that the Trumplican have taken over the Republican name and have sidelined real Republicans. There was an opening after Jan 6 rebellion when the Republicans could have regrouped and shut off their radical wing. But they didn't. So all my votes will be for Dems, especially progressive Dems. No, they are not all perfect, and there will be ups and downs, and there will be different perspectives, but at least they will keep working together for the benefit of the American people. I no longer trust anyone who identifies as Republican to be able to do that. I know that sounds extreme, but I am watching this play out not just nationally, but even right here in Vermont, and it is scaring me.
Pro-rape party. Republicans of 2016 would recoil in horror at such a label. Not anymore. They’re working hard to put women in a solid second class citizenship. Meaning crimes against women and POC will not be prosecuted or treated as seriously as crimes against white men. Kinda like it is now, but without the facade of equal legal protections.
I yhink they are fully aware of the short term consequences of their actions - profits - but they remain oblivious of the longer term consequences, which are likely ro include their failure.
How many times must we recall Will Rogers in 1932. “The money was always appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover didn’t know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night, anyhow. But it will at least have passed through the poor fellow’s hands.” Maybe Mr. Hoover didn’t know but the Republicans of today surely do.
Yes. And so why are his approval ratings so low? Why is he being blamed for inflation that is affecting the whole world? And why are corporations reporting record profits when they are supposedly raising prices because their costs are going up? The free market, as regressionists continue to want to envision it, is an unattainable utopian dream and will never have a chance of even being approximated as long as the 0.1% collude. The regressionists continue to tout the glories of the free market as a means of keeping government regulation out of the economy specifically so the 0.1% can continue to collude.
Supply side economics can absolutely work if a government can initially finance itself. Britain found out the hard way that investors don’t care about domestic British economic policy given the country’s D/GDP is approaching 100%. If streamlining taxes and spending grows GDP faster a country can take on more spending. In a high debt, slow growth highly regulated economy it cannot. That’s the U.S. today. But we spent anyway and the premium on our debt, $4 trillion + and the rollover of our total debt gets more expensive every day. It’s called Stagflation. This is the path we are on. Our treasury market is becoming less welcoming. We should all be concerned. Austerity may be around the corner for you cannot tax your way alone into a solvent future.
Hi David, I certainly agree that the U.S. needs to manage its debt and reduce it. All legislation must show how the programs will pay for themselves or be paid for by other cuts or taxes. I believe the current administration is trying to do just that. Even with the stimulus programs which are creating jobs the current estimate reduces the budget deficit by $1.4 Trillion for this year with the 15% minimum tax for corporations. And, yes, budget deficit is different than total debt but a good place to start reducing debt. It has been ridiculous for 60 of the largest corporations together to pay less tax than I do as an individual! The biggest mistake in the 2016 huge corporate tax reduction is for not to include any incentives to increase wages so almost all benefit of the tax reduction went straight to the shareholders rather than trickling down to the wage earners. Trickle down economics has never been shown to work. I do think we put too much emphasis on GDP and my dream is that we measure any legislation with a Well Being Index WBI as important as GDP on how the legislation or policy improvements the well-being of all rather than just the few at the top of the income disparity tower. There is balance in everything and we certainly aren't finding a good balance point of a strong economy and well-being of all the citizens. We, the People, all of us this time.
Corporate taxes are a double tax on investors. WBI sounds nice but our creditors including the Saudi’s, Chinese, Russians and Japanese might not care. They want cash principe and interest. That means GDP.
One could also argue the individual tax payers are paying double to make up for the unfair tax loopholes corporations get. WBI and GDP are NOT mutually exclusive. I believe you can have both and the synergy of that will benefit both the workers and the investors. Right now with Citizens United the corporations can buy the Congressional votes. That's legalized corruption. Again, I'm an AND person, a Synergist. Too much of our politics is now OR thinking. One is one up or one down; it us versus them, it is ALL with me or ALL against me. Most issues have a lot of gray areas or other colors -- like women's rights -- the no exceptions for even the life of the mother and the vigilante injustice we're seeing in laws like Texas's Anti-abortion law -- is not justice for all. sI think there is a huge amount of ground in the middle where we don't have to split the pie; we can bake more pies for all. I'm one of the few people in the world who has been both a corporate executive (in a very ethical Fortune 100 company who treated its employees very well) and a member of the AFL-CIO (Musicians Union; before right to work laws...) so have been the perspective of both. Understanding all perspectives leads to better solutions for all. Synergy! We, the People, all of us this time!
Do you have even one actual example of a case where funneling more money to the already rich actually helped grow a country's economy for everyone?
What we have seen in the US since Reagan is money funneled upward, everyone else gets poorer, then the plutocrats use that increasing hardship as an argument to give themselves ever more power.
Gladly. JFK was the first post war tax cutter. He lamented the misallocation of investment and capital as a result of punitive high absolute tax rates especially on the rich. Interestingly effective tax rates have changed little over the decades. Wealthy people either find tax sheltered investments or don’t invest at all. It hurts the little guy. An economy with punitive tax rates is typified by slow capital formation and growth. JFK was the progenitor of RR.
BK, You are right on! I do NOT understand why the polls show that voters think Republicans handle the economy better than the Democrats. Look at how George W left the U.S. economy for President Obama to fix in 2008. President Obama put the economy on a very strong positive track and even reduced the deficit. Then, the minute DT became President he took all the credit for the trajectory the Democrats had put the economy on. President Biden has to deal with the impact of COVID on the economy plus DT's friend, Putin has done to disrupt the world's economy. I agree with you that the Democrats need to tout the Rep vs Dem economic success and change the narrative. Something like Republicans only do trickle up economy increasing income disparity while Democrats spread the wealth and opportunity for all. We, the People, all of us this time with well-being for all.
This pattern goes way back. Forty years ago my uncle, who had been active in urban Republican politics, explained to me that it was a deliberate practice.
Britain is sure giving us a preview of the chaos America will have if the MAGA Republicans gain power in our next two elections. The tax cuts of 2016 showed Reaganomics never works and never will. What we're seeing in our economics today is greedy corporations who have no incentive to share the wealth with the middle class. While corporations are free to raise prices to maintain a gluttony of profit, middle class workers receive no cost of living increase. Corporations don't seem to realize they are biting the hand that feeds them since capitalism is based on the consumers ability to buy. Today's capitalism is about profits to shareholders while starving the consumer and hollowing out the middle class. Economics now is about moving money upward in the food chain of income disparity. This is all moving toward America becoming a failed state unless we can turn this around! President Biden is on the right track by building wealth from the bottom up and the middle out. We, the People, all of us this time sharing the wealth !
“Corporations don’t seem to realize...”, they most certainly do realize what they are doing and they are laughing all the way to the bank. Inhumane treatment of those who consume their products at any cost. I agree with you, Cathy, that Biden is trying to build the country back up again but if we don’t do something about the evil takeover of the Pro-Rape Party, we are doomed.
I'm going to do my part by holding the entire Republican Party accountable for the evil they are unleashing on the rest of us by vowing to not vote for any Republican - local, state and federal level. We, the People, all of us protecting and enjoying our Freedoms this time!
Me too!
With you. Want my vote, run with the Democrats. Prove you bonifides, care for the lower 3/4 of Americans.
My whole family made that decision a long time ago, for the simple reason that the republican party in general failed to stop Trump when they could have, and then went on to make excuses for what he did. Many of them still are, and those who have spoke out have been sidelined by the Republicans themselves. There is no such thing as a moderate Republican anymore, for the simple reason that the Trumplican have taken over the Republican name and have sidelined real Republicans. There was an opening after Jan 6 rebellion when the Republicans could have regrouped and shut off their radical wing. But they didn't. So all my votes will be for Dems, especially progressive Dems. No, they are not all perfect, and there will be ups and downs, and there will be different perspectives, but at least they will keep working together for the benefit of the American people. I no longer trust anyone who identifies as Republican to be able to do that. I know that sounds extreme, but I am watching this play out not just nationally, but even right here in Vermont, and it is scaring me.
Pro-rape party. Republicans of 2016 would recoil in horror at such a label. Not anymore. They’re working hard to put women in a solid second class citizenship. Meaning crimes against women and POC will not be prosecuted or treated as seriously as crimes against white men. Kinda like it is now, but without the facade of equal legal protections.
Call it what it is: "The Pro-Rape Party." (Think the short version is "Perp")
I yhink they are fully aware of the short term consequences of their actions - profits - but they remain oblivious of the longer term consequences, which are likely ro include their failure.
How many times must we recall Will Rogers in 1932. “The money was always appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover didn’t know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night, anyhow. But it will at least have passed through the poor fellow’s hands.” Maybe Mr. Hoover didn’t know but the Republicans of today surely do.
Vote! vote! Get out the vote!
The Experiment that is America is failing. Unfettered greed has destroyed it.
👍🏼
Couldn’t have explained it any better. Sending it to my grandchildren. They’re our only hope.
Yes. And so why are his approval ratings so low? Why is he being blamed for inflation that is affecting the whole world? And why are corporations reporting record profits when they are supposedly raising prices because their costs are going up? The free market, as regressionists continue to want to envision it, is an unattainable utopian dream and will never have a chance of even being approximated as long as the 0.1% collude. The regressionists continue to tout the glories of the free market as a means of keeping government regulation out of the economy specifically so the 0.1% can continue to collude.
Supply side economics can absolutely work if a government can initially finance itself. Britain found out the hard way that investors don’t care about domestic British economic policy given the country’s D/GDP is approaching 100%. If streamlining taxes and spending grows GDP faster a country can take on more spending. In a high debt, slow growth highly regulated economy it cannot. That’s the U.S. today. But we spent anyway and the premium on our debt, $4 trillion + and the rollover of our total debt gets more expensive every day. It’s called Stagflation. This is the path we are on. Our treasury market is becoming less welcoming. We should all be concerned. Austerity may be around the corner for you cannot tax your way alone into a solvent future.
Hi David, I certainly agree that the U.S. needs to manage its debt and reduce it. All legislation must show how the programs will pay for themselves or be paid for by other cuts or taxes. I believe the current administration is trying to do just that. Even with the stimulus programs which are creating jobs the current estimate reduces the budget deficit by $1.4 Trillion for this year with the 15% minimum tax for corporations. And, yes, budget deficit is different than total debt but a good place to start reducing debt. It has been ridiculous for 60 of the largest corporations together to pay less tax than I do as an individual! The biggest mistake in the 2016 huge corporate tax reduction is for not to include any incentives to increase wages so almost all benefit of the tax reduction went straight to the shareholders rather than trickling down to the wage earners. Trickle down economics has never been shown to work. I do think we put too much emphasis on GDP and my dream is that we measure any legislation with a Well Being Index WBI as important as GDP on how the legislation or policy improvements the well-being of all rather than just the few at the top of the income disparity tower. There is balance in everything and we certainly aren't finding a good balance point of a strong economy and well-being of all the citizens. We, the People, all of us this time.
Corporate taxes are a double tax on investors. WBI sounds nice but our creditors including the Saudi’s, Chinese, Russians and Japanese might not care. They want cash principe and interest. That means GDP.
One could also argue the individual tax payers are paying double to make up for the unfair tax loopholes corporations get. WBI and GDP are NOT mutually exclusive. I believe you can have both and the synergy of that will benefit both the workers and the investors. Right now with Citizens United the corporations can buy the Congressional votes. That's legalized corruption. Again, I'm an AND person, a Synergist. Too much of our politics is now OR thinking. One is one up or one down; it us versus them, it is ALL with me or ALL against me. Most issues have a lot of gray areas or other colors -- like women's rights -- the no exceptions for even the life of the mother and the vigilante injustice we're seeing in laws like Texas's Anti-abortion law -- is not justice for all. sI think there is a huge amount of ground in the middle where we don't have to split the pie; we can bake more pies for all. I'm one of the few people in the world who has been both a corporate executive (in a very ethical Fortune 100 company who treated its employees very well) and a member of the AFL-CIO (Musicians Union; before right to work laws...) so have been the perspective of both. Understanding all perspectives leads to better solutions for all. Synergy! We, the People, all of us this time!
The US fell into a bad recession in 1958. All through the 50’s we remained on a war tax footing and as the rest of the world caught up, the U.S. became stagnant. JFK was the first supply side growth President. https://www.jfklibrary.org/learn/about-jfk/jfk-in-history/john-f-kennedy-on-the-economy-and-taxes
Do you have even one actual example of a case where funneling more money to the already rich actually helped grow a country's economy for everyone?
What we have seen in the US since Reagan is money funneled upward, everyone else gets poorer, then the plutocrats use that increasing hardship as an argument to give themselves ever more power.
Gladly. JFK was the first post war tax cutter. He lamented the misallocation of investment and capital as a result of punitive high absolute tax rates especially on the rich. Interestingly effective tax rates have changed little over the decades. Wealthy people either find tax sheltered investments or don’t invest at all. It hurts the little guy. An economy with punitive tax rates is typified by slow capital formation and growth. JFK was the progenitor of RR.
What exactly did JFK do to tax rates, and how did that help “the little guy”?
What You Said, Cathy!! Thanks!
BK, You are right on! I do NOT understand why the polls show that voters think Republicans handle the economy better than the Democrats. Look at how George W left the U.S. economy for President Obama to fix in 2008. President Obama put the economy on a very strong positive track and even reduced the deficit. Then, the minute DT became President he took all the credit for the trajectory the Democrats had put the economy on. President Biden has to deal with the impact of COVID on the economy plus DT's friend, Putin has done to disrupt the world's economy. I agree with you that the Democrats need to tout the Rep vs Dem economic success and change the narrative. Something like Republicans only do trickle up economy increasing income disparity while Democrats spread the wealth and opportunity for all. We, the People, all of us this time with well-being for all.
This pattern goes way back. Forty years ago my uncle, who had been active in urban Republican politics, explained to me that it was a deliberate practice.