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Response to Time for change (Original post)

Sat Nov 24, 2012, 01:08 AM

47. This is like saying the Titanic can't sink

 

Killing the Bush tax cuts for those making over $250,000 only raises revenue by roughly $60 billion a year. That's a drop in the bucket and really insignificant. To make any difference, the taxes need to be much, much higher than that.

Notice on that graph, how fast the debt after WWII was repaid during the Truman and Eisenhower period. Tax rates were in the 70% range for the top earners. People had jobs and were paid a livable wage. Unions were strong. And America was a creditor nation. We were building infrastructure and progressing quickly.

We don't have any of that today. The tax rates are at the bottom and we are spending money on stupid crap. And the trade deficit didn't exist back then. We were making things IN America that other countries wanted to buy.

That's the difference between the 1940s and now. And it's why our debt situation today is much more toxic than it was back then.

Today the biggest problem is inflation. The wealth disparity will continue to increase when we continue to flood the money supply without there being any real economic growth or revenue coming in. These new low-wage jobs that we keep celebrating with each job report is completely worthless to our economy. Minimum wage jobs do not help us, they hurt. Because people no longer can work a job and bring home enough money to live on.

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Arrow 62 replies Author Time Post
Time for change Nov 2012 OP
msongs Nov 2012 #1
Time for change Nov 2012 #14
grahamhgreen Nov 2012 #60
Fantastic Anarchist Nov 2012 #48
riderinthestorm Nov 2012 #2
Time for change Nov 2012 #3
rtassi Nov 2012 #4
Time for change Nov 2012 #9
Fire Walk With Me Nov 2012 #5
Scuba Nov 2012 #6
chervilant Nov 2012 #18
rudycantfail Nov 2012 #45
Morganfleeman Nov 2012 #7
Time for change Nov 2012 #8
customerserviceguy Nov 2012 #24
John2 Nov 2012 #37
grahamhgreen Nov 2012 #62
myrna minx Nov 2012 #10
99Forever Nov 2012 #11
Fantastic Anarchist Nov 2012 #42
DirkGently Nov 2012 #12
hexola Nov 2012 #13
Faryn Balyncd Nov 2012 #15
Overseas Nov 2012 #16
Time for change Nov 2012 #30
Overseas Nov 2012 #38
Fantastic Anarchist Nov 2012 #43
RC Nov 2012 #54
BlancheSplanchnik Nov 2012 #17
Time for change Nov 2012 #19
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Time for change Nov 2012 #39
LineLineLineLineLineReply .
Ghost Dog Nov 2012 #46
Poiuyt Nov 2012 #20
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mckara Nov 2012 #22
Faryn Balyncd Nov 2012 #23
AdHocSolver Nov 2012 #25
Time for change Nov 2012 #36
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underoath Nov 2012 #27
kentuck Nov 2012 #28
AllyCat Nov 2012 #29
chervilant Nov 2012 #33
freshwest Nov 2012 #31
chervilant Nov 2012 #32
John2 Nov 2012 #35
NoMoreWarNow Nov 2012 #41
NoMoreWarNow Nov 2012 #40
Fantastic Anarchist Nov 2012 #44
LineReply This is like saying the Titanic can't sink
davidn3600 Nov 2012 #47
sendero Nov 2012 #49
Time for change Nov 2012 #50
RC Nov 2012 #51
socialist_n_TN Nov 2012 #52
Uncle Joe Nov 2012 #53
Doctor_J Nov 2012 #55
judesedit Nov 2012 #56
woo me with science Nov 2012 #57
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Savannahmann Nov 2012 #59
grahamhgreen Nov 2012 #61
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