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What's the point of the economic strength of the US, if the results of that strength disproportionately go to the so-called elites and building war machines? He
by blub 7y ago
What's the point of the economic strength of the US, if the results of that strength disproportionately go to the so-called elites and building war machines? Healthcare, homelessness, massive inequality are perennial awkward topics for an allegedly rich country like the US.
If anything, the US should scale back profits and rebuild its social supports structures, the same structures which were torn down in the name of profit.
- cinquemb 7y agoI was speaking to relative economic strength, It's not that I think the US employment rate means much either: without government debt financing deficits, US gdp would be in contraction (like nearly other OECD economy). >If anything, the US should scale back profits and rebuild its social supports structures, the same structures which were torn down in the name of profit. All of this sounds like more debt, which if we learned (we haven't) anything from 2008, will not solve the problems, just exacerbate it more when it blows up (again).
- cycomanic 7y agoFunny as I remember it 2008 was all about bailing out the banks, that is giving money to the rich, not rebuilding social structures. It seems increasing debt is always fine if it goes to the elites (via tax breaks or bailouts), while it's the bogeyman idf it actually going to help people that need it. You know that the US during the golden age of the 50s and 60s had a marginal tax rate of 90%?
- cinquemb 7y agoI also recall 2008 about programs like cash for clunkers, nationalization of fannie mae and freddie mac (and the eventual roll out of their 3% down mortgages with no income restrictions). You know that during the US during the 50s and 60's the labor force primarily benefited one subclass of people where the rest were marginalized?