Whenever someone speaks out against trickle-down economics they are called socialists at worst, or participating in class warfare at best. Maybe a little class warfare would be good for this country. The right has been committing class warfare against the poor and the middle class for going on 30 years. They sure hate redistribution of wealth, but they seem to love it when it is redistributing wealth from us to them.
Paul Ryan is the congress budget chairman and has passed a budget bill that would detrimentally affect Medicare as we know it. In that bill, Medicare would be put into the private sector. President Obama has talked about raising the taxes on the wealthy to help pay for his jobs bill. It’s never going to happen though with the Ayn Rand-Grover Norquist cultists on Capital Hill. He said class warfare makes rotten politics. I agree with him, so why are he and his uber-capitalist cronies committing class warfare on us?
Ryan and the rest of them have their own facts. They actually believe that if you give the wealthy and the corporations huge tax cuts it will trickle-down to the rest of us. The problem is, it never works.
Some facts taken from the Christian Science Monitor show how ineffective this is.
In 1976, the top one percent took 8.9 percent of the country’s income. In 2007, it was 23.5 percent. The lowest fifth saw a decrease of income by 4.1 percent in the same time period.
The richest one percent in 2007 owned 33.8 percent of the nation’s private wealth more than the combined wealth of the bottom nine percent.
In 1960 CEO’s made 30 percent above what their lowest paid workers made. Now it is 300 percent.
A Harvard study said that 45,000 people die a year because of lack of health insurance. The census bureau said that 46.2 million Americans are below the poverty line, the highest number since they began tallying the numbers 52 years ago.
25 of the top 100 CEO’s salaries were more than their entire company made in taxes. Bank of America, one of the banks that we the taxpayer’s bailed out in 2008, just said they would layoff 30,000 people. Their chief executive officer had a salary of $10,000,000 last year. How long do they think we can stand being abused by the wealthy? The odd thing is that they are paranoid of Marxists or socialists taking power in this nation, but their policies are setting up the same type of environment for such a revolution.
Now if this trickle-down economics, the large tax cuts for the “job creators” actually work, you would think there would be more jobs. The Wall Street Journal, hardly a liberal rag, made a table about job creation during president’s administrations from Truman to George W. Bush. Only the senior Bush and Gerald Ford had worse job creation numbers. Jimmy Carter had a better job creation record with 10.5 million jobs compared to George W. Bush’s 3 million. Jimmy Carter saw an economy that created 2.65 million jobs a year. George W. Bush only saw 375,000 jobs a year created.
The Republican party seems to be only looking out for the almighty dollar. It’s almost as if they bend their knee and bow and worship the bronze bull outside of Wall Street.
So if you speak up against the abuses of the rich and ask about the huge inequality gap and they say you are participating in class warfare say “your damn right I am.” We may be 30 years late in the game, but we are in fighting shape.