posted on Apr, 13 2011 @ 07:45 PM
reply to post by Ahabstar
Well written and covering the problem nicely.
First of all, what caused the death of manufacturing in North America? Corporations going out of country for a cheaper workforce. What prompted
companies to leave en masse? In my opinion, the 'Trickle-down Economics' which put loads of cash into the hands of large corporations.
Then, there was that banking mismanagement which ramped up personal debt to record levels and led to the housing bubble. After all, those people
working in Walmarts and Target stores needed a place to live and the banks, which merged into huge corporations too, were all to happy to sell the
American Dream and fob the cost off to countries overseas *cough*China*cough*.
First the manufacturing left for parts unknown and then the record debt followed closely on their heels.
Now you have a country that either employs its citizens in the service sector for peanuts OR hires foreign workers for short stints and sends them
back home. Declining taxes from a shrinking middle class only leaves taxing the rich, which is the next big battle and not one that's easily going to
happen. For one thing, the rich can just pull up stakes and leave for friendly countries, living off their Swiss bank accounts. That and the GOP will
never allow it as long as they breathe... it's a conundrum.
In Canada, the move is to increase the employee deductions and prompt companies to equal that for each worker on a weekly basis. Other plans are
personal pension accounts which are or are not taxable... it all depends on the party that wins the next election. We already have
corporate taxes in the G8 and Harper wants them lower.
America needs to do something not just for pensioners, they need to boost the incomes of their working populations. You do NOT want to eventually wind
up working for an average of a dollar a day, like they do in Egypt and Haiti. Tough decisions have to be made and one of them is somehow coaxing
American companies to hire Americans so that they can not only afford their cherished American Dream but can also look after the growing numbers of
sick and elderly. The alternative isn't pretty.