Mind and Destiny

“I make no pretension to patriotism. So long as my voice can be heard ... I will hold up America to the lightning scorn of moral indignation. In doing this, I shall feel myself discharging the duty of a true patriot; for he is a lover of his country who rebukes and does not excuse its sins. It is righteousness that exalteth a nation while sin is a reproach to any people.”- Frederick Douglass

Location: Delhi, N.Y., United States

The author and his webmaster, summer of 1965.

Monday, March 06, 2017

Trickle Down

Republican ideologues have been claiming that profits and prosperity for the very wealthy will help everyone.  However, for decades trickle down economics hasn’t been helping the middle-class or poor.
Henry Ford understood that paying his autoworkers the unprecedented sum of $5 a day would enable them to buy the cars that they build.
In 2005, billionaire Warren Buffett warned: "The rich people are doing so well in this county, I mean we never had it so good...  It's class warfare, my class is winning, but they shouldn't be...  Right now corporate profits as a percentage of GDP in this country are right at the high.  Corporate taxes as a percentage of total taxes raised are very close to the historical low."
After World War II, our country’s economic future began to looked brighter.  A blue-collar job could enable a worker to buy a home, car, and have a reliable pension.  For some, it meant being the first in their family to go to college, and not graduate with a lot of debt.
Technology made it easier for companies to eliminate certain occupations.  As a trickle-down ideology became more prominent, taxes were slashed for the wealthy, and investments in schools and infrastructure began to shrink.
There is no evidence whatsoever that requiring the very rich to pay their fair share will slow down our economy or diminish job growth.  The Democratic Party’s plan has been to pay down our national debt by middle-out growth, because that's where most economic growth comes from.  It's an alternative to trickle-down economics and the fairest way to grow our economy.
Today, we have the most unequal distribution of wealth and income of any major country on earth.  It’s worse than at any time since 1928 before the Great Depression. 


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