economy summary
TRANSCRIPT
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HereisaglimpseofworkinglifeintodaysAmerica.Contrarytothenotion
thatmostAmericansaresomehowlazyorapathetictowork,Americansareharderworkingnowthantheyhavebeeninthepast,andyettheircompensationdoesnot
reflecttheaddedproductivity.Yet,thecompensationoftheexecutivesandthe
companiesthemselveshassteadilygrowninthelastfewdecades.Thisisevidence
ofpeopleworkingharder,notbeinglazyoroneoftheinfamousMittRomney47%,yetbeingdeniedtheirduerewardsforthateffort.http://www.motherjones.com/politics/2011/06/speedup-americans-working-harder-charts
http://www.businessinsider.com/what-wall-street-protesters-are-so-angry-about-2011-10?op=1
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http://angrybearblog.com/2011/03/growing-productivity-stagnating.html
http://www.newleftproject.org/index.php/site/article_comments/a_short_history_of_neoliberalism_and_how_we_can_fix_it
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http://www.huffingtonpost.com/2011/02/26/the-widening-gap-between-_n_828659.html
Atthesametimethattheaveragewageofmostworkersremainslargely
stagnantintheUnitedStates,thecostoflivinghassteadilygoneupforbasic
necessities,
http://www.motherjones.com/politics/2011/06/speedup-americans-working-harder-charts
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http://www.alternet.org/story/152016/debt,_debt,_debt%3A_90_of_americans_experience_income_decline_as_wealth_gets_s
ucked_back_into_top_.1_--_debt_explodes_as_we_try_to_make_ends_meet
aswellasthecostofeducation.
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Asshown,thesearenotluxuries,orfrivolouspurchases.Thesearethe
upwardcostsofsomeofthemostimportantnecessitiesforlife.Thishascreatedahugeproblem:howtopayforthesedireneedswithdwindlingfinancialresources?
Many,ifnotmost,Americanshaveturnedmoreandmoretocredit.
http://www.pgpf.org/Chart-Archive/0062_household-debt
http://www.economist.com/blogs/freeexchange/2010/11/debt
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http://thinkprogress.org/wp-content/uploads/2011/12/student_loan_debt_correct.png
WhilethesefinancialblowshittheAmericanpublic,theirjobsarebeingsentoverseasintheeffortforbusinesstosaveonoverhead.
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http://www.motherjones.com/politics/2011/06/speedup-americans-working-harder-charts
Andtheever-naggingAynRand-inspiredthreatthatbusinesswillsuddenly
packupandleavetowntofindbettercorporatepasturessomewhereelseinthe
worldishotair,consideringthatcorporatetaxratesintheUnitedStatesareamongthelowestintheworld.
http://thinkprogress.org/economy/2011/07/05/260535/graph-corporate-tax-second-lowest/?mobile=nc
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OneofthepromisesofourcurrenteconomicstrategywasthatofmakingmoreAmericansricherbycuttingtaxesonthewealthyandoncorporationssothat
thefreemarketcouldenrichthemaximumamountofpeople.Asshown,thelast30
yearshasbeenaperiodofgeneralstagnationanddeclineformostAmericans,while
ithasbeenadramaticinclineinpayforthetop5%ofAmericans.http://www.newleftproject.org/index.php/site/article_comments/a_short_history_of_neoliberalism_and_how_we_can_fix_it
Andtheratioofpaydifferencebetweenexecutivesandworkersremainsfarhigherthanithasbeeninthepast.
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passlawsthathelptheupperclassbecomefarricherthantheywereinthepast,
ThesesamepeopleareinvolvedinstocksandinvestmentsfarmorethanmostAmericans,wheremostoftheeffectoftheseactsandlawshasbeenfelt.
http://www2.ucsc.edu/whorulesamerica/power/wealth.html
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PriortothisfinancialstressonthemajorityofAmericans,wehadageneral
periodofeconomicstabilityandgrowthintheUnitedStates.
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http://upload.wikimedia.org/wikipedia/commons/8/87/Year-to-
Year_Increases_in_US_GDP_(as_Percent_GDP)_and_Debt_(as_Percent_GDP)_Graph.png(emphasisaddedbyauthor)
InsteadofaskingmiddleclassandpovertyclassAmericanstodomore(whichisexactlywhatthegeneralnotionhasbeensinceRonaldReagan),itwould
behooveustoreturntopoliciesthatservedtheUnitedStateswellinthe4decades
priortotheMerrillLynchapproachtoeconomicprosperity(referringtoDonald
Reaganandhisinitialeconomicreformof1981,theKemp-RothBill).Mostnotably,
raisingtaxesonthewealthiestAmericansandoncorporations.
DuringtheperiodbetweentheNewDealandtheearly1980s,wealthy
Americansweretaxedupto90%oftheirincome,andcorporationsupto50%.Wewereabletodoalotwiththatmoney.Wewonamassiveworldwar,foughtintwo
majortheatres.Webuiltamassivedomesticinfrastructureofinterstates,dams,
electricpowergrids,airports,railstations,satellitetelecommunications,andeven
createdtheInternet.Wesentdozensintospace,andevenmanytothemoon.Webuiltamassivearmadaofamilitary,withhundredsofthousandsofarmaments
fromships,planes,submarines,tanks,missiles,ICBMs,andothermilitary
equipment.
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Anothermodern-dayexampletofollow,acountrythatisdoingverywellin
termsofhowthecommonworkerlives,howstrongtheirentrepreneurshipis,andhowfriendlythebusinessenvironmentis,weshouldlooktoNorway.
See:
-USFiscalDebateCouldLearnFromNorwayhttp://www.progressivepress.net/us-fiscal-debate-could-learn-from-norway/
-InNorway,Start-upsSayJatoSocialismhttp://www.inc.com/magazine/20110201/in-norway-start-ups-say-ja-to-socialism.html
Acommondefinitionofinsanityisrepeatingthesameprocessthatisfailing,
andexpectingdifferentresults.Ifweweretocontinue(andasofyetwehavenot
madethedrasticchangesnecessary)onthesamecoursethatwestartedbackin
1981,wewouldbeconsideredbythisdefinitionasinsane.