The Reason for the Economic Decline of America

originally posted by: xuenchen
If the 90% tax rate was so effective, where did the "rich" get the money to "fight back"?

What went wrong?

You sort of just pointed it out. The rich were still rich and the non-rich became comfortable. It was effective precisely because of that. The goal wasn't to make the rich people into poor people. And it didn't.

Globalisation caused much of the decline in the U.S, with many corporation moving their production to the so called third world countries. Why pay a living wage to a person at say $15-20 dollars per hour, when you can pay $0.50 per hour to people in these countries. It makes economic sense for these companies to do this, after all it keeps the shareholders happy and your pension is invested in stocks and shares of these companies.

Did you know the number of Billionaires have doubled since the crash of 2008? Most of the Western world have had to deal with austerity measures being implemented while all the while the top 1% just get richer.

Of course Reagan introduced the policies to reduce the taxes of the rich, who do you think he was working for? The Rothschilds and the like do not want to have to pay to support the likes of me and you, we have this rammed into us from the moment we can start to comprehend words. Work hard, earn money to buy crap you can't afford to be without in your life, to buy a house you spend more time away from, because hey, you have to earn the money to pay for it.

a reply to: Willtell

Thanks for this post s&f; I had thought end of the Vietnam war and the change to volunteer military service was the reason tptb trashed our economy, ie the poor with no future were more likely to join up.

a reply to: Cobaltic1978

If you look at the leading political donors that aren't unions or pacs you get names like Goldman Sachs,Citigroup,JP Morgan,General Electric and Bank of America these entities are part of the new digital economy the same economy that has propped up the s and p etc to the tune of 9 trillion,.These entities receive countless billions in digital money and it never sees the general economy,therefore they dont care about the general economy nor do the politicians they own,they dont give a toss about manufacturing,jobs,unemployment,aging infrastructure or the any of it because they are making a motza just being a member of the Fed's club.

I feel patriotic

Wherever you are please
Stand!


Oh, say, can you BE? No! For there’s NO MORE JOBS WE CAN SEE

What so proudly we FAILE’D at the twilight's ZONE’S TRAIL

Whose bright stars AND broad WHORES MADE US ALL POOR,

O'er the HAM AND EGGS we watch'd, were so gallantly ERASED (FROM OUR DINNER TABLES)

And the rockets' red glare, FALLING ON THE MIDDLE CLASS’ air

AFTER CAME the THEIF IN THE night (POLITICIAN) that our flag was still there

O say, does that star-spangled banner yet wave

O'er the land of the SAP and the LOWERING of the MINIMUM WAGE ?

originally posted by: xuenchen
If the 90% tax rate was so effective, where did the "rich" get the money to "fight back"?

What went wrong?

Nothing went wrong the rich just got more greedy. So they got a B movie actor elected President and like a good little dog he did just what they wanted.

a reply to: Willtell

Hehe not bad. Work on it a bit and you could get YouTube famous

Indeed, twas Reagan, the corporate star of the age who began the plot to destroy what was indeed or could have been a great country.
RONALD(6)
WILSON(6)
REAGAN(6)

Now we sadly get lost in the politics of left/right philosophy so things get so polarized no real solutions will come about and America will continue to decline.

It’s not all the conservatives, though they are at the vanguard of the economic doom because they are spouting the trickle down dogma that NEVER works.

Look at Chris Christies NJ

He ruins the schools and stops the raising of taxes for millionaires while schools get closed

The worst economy on the east

Look at the guy in Kansas who even the GOP people there are lambasting.

But its NOT all them

Bill Clinton was president when they repealed Glass Steagle and I think NAFTA

Also, I believe that the Dems often lay down for the GOP and letthem do their deeds

originally posted by: onequestion
a reply to: Jenisiz

That's not true. Illegals are having a massive impact on the construction market devaluing the labor pool tremendously. They work for a lot less. Jobs that were guaranteed at least 20$ an hour in some areas of the country your lucky to get 10$ for and you can't win a damn bid against them because you can't afford to pay guys to do the work and make money off of it. You have to run skeleton crews and you can't hire guys that don't have experience.

Immigrants don't collect welfare yet pay taxes. In addition, it's construction companies that are engaged in ILLEGAL activities...period. These companies however DO make it more affordable for smaller projects to be executed at lower costs for small to mid size companies. The most impacting is occurring with outsourcing. "The legal slave trade" is approved by the government...hence the reason it's not being shut down. After all, immigrants are what are keeping food on the lower classes table. They're willing to pick fruits and veggies for 20 bux a day...something average Americans wouldn't. Illegals are a massive foundation to our economy...proof is in the policies.

a reply to: tavi45

Thanks, it took about 5 minutes to alter the song.

They have made a mockery of it anyway

They have despoiled this land

They have raped the spirit of this great country

a reply to: Jenisiz

The immigrant thing is a double edged sword

While they do pay taxes sometimes and do do the worst work that is needed what they also do is, as the poster says, contributes to the lowering wages and worst depress communities by sending their money home and not spending it here…

a reply to: Jenisiz

And they are working on making us slaves too. There are only three ends to this.

1) We let it happen and the entire planet will be a permanent aristocratic society with 99.99999% of people being serfs.

2) We stop it and lead the world into egalitarian utopia.

3) We fight until the world is destroyed resulting in the extinction of the human race


Which option do people favor? I'm all for #2.

a reply to: Jenisiz

It's the costumer that chooses the bidder.

Do you not know how co struction works? You get a set of tools and a truck and you start bidding on jobs, job goes to the lowest bidder which means it forces construction companies to adapt tomthe new low prices meaning they have to hire cheaper labor period.

a reply to: Willtell

Three: Bring back the Glass–Steagall act that separated investment banking from ordinary savings and loan commercial banks.

Perhaps a good idea, but I'm not convinced the 2008 meltdown for example, was caused by the Glass-Steagall "repeal".

Mortgage backed securities were around long before the repeal.

Maybe the "bailout" loans would have had a lesser impact, but still, the regular banks suffered losses on the primary mortgages anyway whether or not the mortgages were packaged by the big investment banks that were not included in the Glass law anyway.

Mortgage-backed security

very confusing.

a reply to: xuenchen

2008 was a market correction because of buying and selling houses for profit. It drove the prices sky high forcing an inflationary market to adjust for rising cost of rent and mortgage.

I think I made that statement clear but maybe not.

originally posted by: xuenchen

a reply to: Willtell

Three: Bring back the Glass–Steagall act that separated investment banking from ordinary savings and loan commercial banks.

Perhaps a good idea, but I'm not convinced the 2008 meltdown for example, was caused by the Glass-Steagall "repeal".

Mortgage backed securities were around long before the repeal.


Maybe the "bailout" loans would have had a lesser impact, but still, the regular banks suffered losses on the primary mortgages anyway whether or not the mortgages were packaged by the big investment banks that were not included in the Glass law anyway.

Mortgage-backed security

very confusing.

Agreed its no panacea. But is a start to return to economic stability and growth by keeping the wolves out of the sheeps bin as much as possible.

That may be put of reach now after the phony fraud Obama.

Certainly no GOP led anything will do it or any Dem such as Hillary

originally posted by: onequestion
a reply to: xuenchen

2008 was a market correction because of buying and selling houses for profit. It drove the prices sky high forcing an inflationary market to adjust for rising cost of rent and mortgage.

I think I made that statement clear but maybe not.

To add,

many mortgages were sub prime and people started missing payments and defaulting because they over paid for the property they bought.

That seemed to pile up fast right before the "collapse".

I think some regulations had created a problem.

a reply to: tavi45

I think we can only hope for a middle course of reasonable sanity.

We won’t or can’t get a utopia, imo, because the soul (a spiritual thing) of humans is in a state of imbalance.

But what is available is a middle course were the good people explain and teach to the ignorant who empower the evildoers (whether they be ISIS types or neocon types in America) of the harm they do by empowering these wicked leaders.

Utopia, imo, will happen only when (I don’t want to take this into a religious mode, btw) spiritual realities evolve.