AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.
That's because there was no government involvement. No one is advocating no government involvement. Obviously, there need to be regulations in place to protect workers and businesses, but not so much regulation that it oppresses those same businesses.You may look into the history of unions and why workers have had to organize in the first place. It wasn't because of government involvement.
The average family income for the bottom 90% (adjusted for inflation) is almost identical to what it was in 1980. For the top .01%, it has risen more than 5 times.
Work is no longer valued in this nation. That is why we tax income earned through work at a rate higher than we tax income gained by shuffling things around.
Articles like this expose the laughability of the claim that rich people shouldn't pay more in taxes because they would then be contributing an amount disproportional to the services they get. The entire system as it currently exists seems to benefit solely the rich.
(avatar by Thomas Nast)