Monday, August 08, 2011
GOOD NEWS ON USA'S ECONOMY
The problems of the economy in the USA, and elsewhere, are easy to solve.
Think of France facing bankruptcy in 1789.
The problems of France in 1789 would have been solved if the rich had paid their fair share of taxes.
In 1789 France was the largest, wealthiest, and most powerful state in Western Europe.
Today, the top 600,000 people in the world control 85% of the world’s wealth.
Between 2002 and 2007, 65% of all income growth in the United States went to the top 1% of the population.
The rich can afford to pay more tax, and still go shopping in the malls.
Of course, France would not have got into a mess in 1789 if it had avoided stupid foreign wars.
There is a lack of demand for products, because the rich have grabbed most of the wealth.
http://retank.blogspot.com/ alerted us to the fact that: Well-To-Do Americans Are Getting More Benefits Than The Poor
1. Poor Americans get Federal welfare checks, food stamps, and unemployment benefits.
The cost of these is LESS than the $1-trillion in tax breaks awarded annually to middle- and upper-class Americans.
2. Professor Suzanne Mettler, in The Washington Monthly, points out that tax break for the rich add to the deficit.
She writes that "the most expensive of these subsidies shower their largest benefits on the most affluent Americans...
"Beneath the surface of American government lurks a system of social programs for the wealthy that is consuming the federal budget."
3. Tax breaks represented 7.4% of GDP in 2008, up from 4.2% in 1976.
Social Security amounted to 4.3% of GDP in 2008; Medicare and Medicaid, 4.1%.
4. Vested interests profit from the tax break policies.
These vested interests include the real estate, health care industries and the nonprofit foundations.
Real estate sector giving to political campaigns rose from $43 million in 1992 to $138 million in 2008.
aangirfan: THE GLOBAL ELITE AND THE SUPPRESSION OF DISSENT