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  • 7/28/2019 Economy Summary

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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.