Liberal free for all coming to an end

[randolph]

Originally Posted by smc

Wow, did I really miss making my point that badly?!

I was talking about U.S. workers.

Yes

I agreed with your point regarding American labor, I just took off on another aspect of the issue.
After WWII the unions were strong and the working class was able to join the middle class, buy a house, a car and have a family. Big business resented the power of unions and the Taft Hartley bill was passed and then came more "right to work" bills further weakening the unions. Since the 1970s the working class part of the middle class has just been treading water and going deeper into debt. The unions strongly supported the Democratic party and congressmen thereby providing a counter balance to the Repubs. This is gone now and both parties are beholden to corporate America.
I find it mystifying that corporate America is determined to destroy the middle class. These are the people that buy there stuff. A viable middle class is the heart of America. I don't understand it.

[TracyCoxx]

Originally Posted by randolph

ying that corporate America is determined to destroy the middle class. These are the people that buy there stuff. A viable middle class is the heart of America. I don't understand it.

Why would corporate America (your evil empire) be determined to destroy the middle class? That's the vast majority of their customers.

[smc]

Originally Posted by TracyCoxx

Why would corporate America (your evil empire) be determined to destroy the middle class? That's the vast majority of their customers.

Corporate America makes its money primarily in the capital markets (paper/fictitious money, but it works for them at least for now), not by selling goods to consumers.

[randolph]

Originally Posted by TracyCoxx

Why would corporate America (your evil empire) be determined to destroy the middle class? That's the vast majority of their customers.

I don't think there is a conspiracy to destroy the middle class, it's that we don't have the protection in Congress that we used to have. Consequently, the upper classes have the power to bleed us of wealth we used to have.
Also, the middle class was sold on the idea that buying a house was an excellent way to invest for the future. Extremely easy credit was used to lure people into buying overpriced properties with the assurance that prices would continue to go up. What a con job! Most homeowners with these big mortgages are now underwater and will stay that way for years to come. What a horrible feelling that you paid $500,000 for a house that is now worth $250,000 and you owe $400,000. Are people in that situation going out and spending lots of money? Without consumer demand, the companies are not going to hire more workers.
The greedy banks and financial houses in cahoots with the federal government (Greenspan) have thoroughly fucked up our middle class economy, while the rich are sitting pretty.

[TracyCoxx]

Obama's plan to reduce the deficit includes $1.5 trillion in new taxes. He had his chance to lead before. The democrats and republicans left deficit reduction strategies up to the deficit super committee, which from what I've heard were not going to depend on new taxes. Did he forget about that?

[randolph]

Originally Posted by TracyCoxx

Obama's plan to reduce the deficit includes $1.5 trillion in new taxes. He had his chance to lead before. The democrats and republicans left deficit reduction strategies up to the deficit super committee, which from what I've heard were not going to depend on new taxes. Did he forget about that?

There is no way on earth this massive deficit is going to get paid off without severe cuts to government spending and a reestablishment of an equable tax system that treats everybody fairly. We can start with the capital gains tax, make it progressive based on income. Yes, that would mean I would have to pay more taxes.

[smc]

Originally Posted by randolph

There is no way on earth this massive deficit is going to get paid off without severe cuts to government spending and a reestablishment of an equable tax system that treats everybody fairly. We can start with the capital gains tax, make it progressive based on income.

I would be interested to know why everyone seems to buy the line that the "massive deficit" is somehow a problem of earth-shattering importance. I do not deny that the United States carries a massive deficit; governments are expected to do so. But making it an issue with catastrophic overtones is, I believe, a red herring, used as an excuse by those whose true agenda is to slash social spending.

[randolph]

Originally Posted by smc

I would be interested to know why everyone seems to buy the line that the "massive deficit" is somehow a problem of earth-shattering importance. I do not deny that the United States carries a massive deficit; governments are expected to do so. But making it an issue with catastrophic overtones is, I believe, a red herring, used as an excuse by those whose true agenda is to slash social spending.

Personally, I am very adverse to debt, I have seen how destructive it can be. I see no justification for social spending based on debt. Social spending should be based on productivity of the economy.
As governor of California, Earl Warren used to say, we pay as we go. that's the only way an economy can be sustainable. California was thriving in those days.

[TracyCoxx]

Originally Posted by smc

I would be interested to know why everyone seems to buy the line that the "massive deficit" is somehow a problem of earth-shattering importance. I do not deny that the United States carries a massive deficit; governments are expected to do so. But making it an issue with catastrophic overtones is, I believe, a red herring, used as an excuse by those whose true agenda is to slash social spending.

well our credit rating was downgraded, so there is that.