Monday, March 2, 2015

Trickle Down Economics: A great letter to the editor about how it failed the US

http://www.dailykos.com/story/2015/03/01/1367872/-My-Letter-to-Editor-refuting-conservative-economics-printed?detail=facebook

Just like the extreme property rights doctrines of the Confederacy corrupted many Christians a century and a half ago, today, the love of self and love of mammon have again corrupted many -- and have similarly retarded the scientific and economic progress of the republic. The constant denunciation of “redistribution” by today’s property rights extremists has made it politically impossible to raise taxes to levels needed to fulfill the Constitutional mandate to promote the general welfare. We cannot even afford to maintain our roads, bridges, waterways, and airports in good working order. Modern day Confederate economics have again crippled governments at all levels.
Finally,  Mr. R. declares anyone desiring “free” education or “free” health care are “thieves.” But the real thieves are those selfish rich who fund anti-tax movements but who never would have amassed great wealth in another country, such as Somalia or Ethiopia, without the protections, promotions, incentives, and economic structure provided by a strong national government. The real thieves are the Wall Street traders and hedge fund managers who buy and sell stocks and bonds within split seconds, and then insist their “capital gains” be taxed at only 15 percent. What real wealth is being created by such “high frequency trading”?  What benefit to the economy? The real thieves are the employers and managers who are unwilling to pay their employees the $20 to $30 an hour actually needed to raise a family, and save for the kids’ college education and retirement. How is such thievery different than Pharaoh forcing the Israelites to make bricks without straw (Exodus 5)?

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