It's no accident that the change in economic disparity and the diminishment of economic opportunity began to register in 1980, the year Reagan took office. We now trail every other advanced democracy in the world, our children have less opportunity to improve their lot economically and live with a greater disparity between rich and poor than any European kid, or Canadian, or etc.—something that would have been unthinkable in my childhood and even early adulthood.
The old "America" the right seems to have so much nostalgia for is often depicted as the "Happy Days" of the 1950s. And they're correct that the country was much better off than in many ways, mostly economically. But that was because unions were strong and all working people benefited from that because the threat of strikes kept corporate bosses wary of trying to cut wages etc. so a working-class family could actually afford a house and car and be able to put their kids through college on the wages of one adult.
And corporate greed was kept in check by progressive tax rates that were as high as they've ever been for the richest. And yet, the economy was booming, the country was in great shape, except for the treatment of minorities and women. Maybe that's what the rightwingers are really nostalgic for. But the truth is, the economic inequality that now exists in the USA is greater than anywhere in the advanced world, and even greater than in some developing countries. The only time it's been this bad was in the gilded age in the late 19th century when corporate bosses hadn't been brought into check by fairer work laws and anti-trust legislation etc.
The idea that rich people are "job creators" and the more money they have the better off we all are is a lie, plain and simple. Rich people didn't create the Internet which has led to a lot of the jobs in our economy, the government did. Et-endlessly-cetera. Maybe Will Rogers said it best back when we were heading into The Great Depression, an economic situation that was only matched by the one Bush/Cheney led us into. Fortunately Obama and his administration kept it from getting as bad as then, but not with any help from the right which includes most Republican politicians. But that's another post.
6 comments:
Once again the stalker doesn't respond to the point but tries to misdirect. It was under Reagan's watch and the changes he and his administration brought to our economic situation that the gap between the wealthy and the rest of us began to expand. Part of that was due to his cut in taxes for the richest among us and part was due to his weakening of unions beginning with the air controllers union. We began to become a "third world" country in terms of income disparity and lack of economic opportunity under Reagan's policies. His was the most rightwing administration we had had to that time. But compared to Bush/Cheney or where Republicans are today, even Reagan would be considered too far to the left!
I have always described the trickle down theory as the rich drink champagne and tinkle (trickle) on the rest of us. I cannot understand why so many think that the rich should pay low taxes. The loopholes, offshore tax havens, etc mean that many of them don't pay much or any taxes. You are right on in your remarks. The rich aren't job creators. Having money doesn't mean you invest it in American jobs. And our economy is driven by middle class spending. Many in the middle class in the past were union workers. The only thing destroying unions does is put more money in the hands of the few. You said it better than I can.
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