The Inequality to be Suffered by Our Children
The Inequality to be Suffered by Our Children
To initiate progressive politics it will first be necessary to assemble some Americans who care about Their, children the world, and the future. I wish you luck!
I think the dollar will crash before we get anywhere with this. And, as Nostradamus predicted saying the rich will die many deaths – the rest of the world’s currency will crash as well one by one. A wise man said it’s time for a new better system to replace this old system that allows this kind of greed to happen in the first place.
To the point “the rich will die many deaths”. I am reminded of that Rich Guy that was on Canada’s Dragon Den and then Sharks Tank in the USA.
One young woman was making her pitch and after querying her this guy learned she had lost several hundred thousand dollars trying to get her business off the ground.
He called her a mass murderer. He claimed she was “murdering money” and every dollar she lost was “murder”. It was a real shake your head moment but this the kind of mind set we are dealing with,
One thing I have noticed with the middle class is that they all deplore the accumulation of wealth by the few but want the right preserved to achieve it themselves.
I’m trying to suss how you can call Dems complicit in this crimogenic culture, then proceed to point to “progressive policies” from someone like Booker, a card carrying member of what Glen Ford terms “the black misleadership class”, as the way forward.
I think that this theory is a bit off, because no matter how rich someone is they always have to have an army of the “little people,” to do their bidding—and if the Earth gets bad enough, the little people will take their power back --------kind of like that Trump resort maid who has had enough and will probably be deported—but there is a limit to what people will endure!
. Besides if it gets that bad, angry people will target the kids of the rich-----and if they are kidnapped or whatever----i.e. not functioning on the Earth realm-----then where will the money go then? I’m getting dystopian again but-----the military will no doubt relieve them of their riches before they can live out their dreams of freedom.
Then as the rich have their own foibles------there will have to be a new rating system-----and somehow the rich , but the bottom of the rich, will be pushed into taking the place of the previous “little people.” I think this is said to be a Chinese curse, " May you live in interesting times," although I don’t know why it’s supposed be a Chinese curse, it sounds like a military curse to me.
42% of U.S. workers have incomes below $25,000 a year, says the Social Security Administration, that’s also 69 million workers out of 165 million. See here: https://www.ssa.gov/cgi-bin/netcomp.cgi?year=2017 – The United Way conducts a study, ALICE, about low-income and low-saving households, saying that 40% of U.S. families are in that category, not making a great living, struggling along. I took a look at Ohio, a state profile, and 40% of jobs pay less than $15 an hour, 61% pay less than $20 an hour. Working the average hours per year, 1790 hours, that’s an income of $26,850 at $15, and $35,800 at $20. With two parents working you can almost earn the survival income, according to ALICE, of $64,176 a year. The nation’s total income averages about $125,000 per household, or $45,000 per citizen, in income, $92,000 per worker. There is room for higher wages for most. The median worker annual income was $31,561, says the SSA of 2017. I added the total income of all the lower-paid half , it came to about 7% of the total national income. This is pre-tax income, it’s not so bad after taxes because of transfers like SNAP and Medicaid. And this article is much about wealth, which is more unequal. We need the $15 an hour minimum, and much more. The lower-earning 20%, between 20th and 40th percentile, have average income of $31,900 per household says ITEP.org. The lowest 20% have $15,700 average. Lots of poor and low-income folk. The top one percent averages $1,827,000 per year says ITEP, https://itep.org/who-pays-taxes-in-america-in-2018/ — about 100 times more than the lower-20% average. Steep inequality.
During the Eisenhower Presidency in 1953 the marginal income tax on the super rich was 91 per cent. That money trickled down to the middle and lower classes and stimulated the economy. That’s what we need now. The only problem now is that the Congress writes the tax laws and we have the best Congress money can buy. Nevertheless we have gone through this several times in our history. So hope springs eternal.