The English Lit degree was one of the persons. Keep in mind...speaking of "35 years ago" like the person I was talking to...you could find a job with and English Lit Degree. Not everybody can be MBA's, Engineers or Scientist. I have no idea your age range but I'm sure if that was the case when you graduated there would be a lot of people in dire straits!While I feel bad for the situation you and the folks you write about are in, what did anyone think they could do with a English lit degree?
The whole corrption thing fits into that. As of right now, with no protesting, who do you vote for protecting American workers? The only thing our Congress can do with true bi-partisanship right now is shove through Free trade agreements. That' corporate money, not voters. Shipping job overseas is the one thing that pretty much unites both parties but apparently contributions trump voter concerns.This economy stinks, but it has been bottoming out for the last 30 years, propped up by personal and government debt until that could not rise any more. Why aren't people protesting about free trade. Obama promised us fair trade where is it. Without fair trade we send our manufacturing jobs overseas and instead wind up with service sector jobs like the kind you find yourself in.
The Democratic party is not anti-Wall Street. I disagree with this.When will the public stop being led like sheep by one party or the other. This new rally is just the Democratic response of the tea party.
We are in a situation where, for the first time, the next generation, and perhaps the next generation after that, will do less well than the preceding generation. And it has nothing to do with estate taxes. It has to do with putting personal greed above the public welfare.
"The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."
-- Adam Smith
Lets start with the misstatement that 47% of income earners pay no taxes. Its not income earners, but households. Income earners are a subset of households. Households include the unemployed, retired persons, the disabled and even entrepreneurs (those that are starting small businesses that have no income... of which, BTW, I am one)
Let's go to step two, which requires some understanding of income taxes, which unfortunately very few people understand (including most people currently in this debate). In the 30+ years that I have been somewhat knowledgeable about income taxation (since earning my CPA), income taxes have been focused on discretionary income, not wage income. This is why we have exemptions, standard deductions and credits... so that individuals and families have the income needed for their basic necessities exempt from taxation. The fact that 47% of households have no income liability means that 47% of American households have no discretionary income.
Sorry, but the lower income group has been disproportionately hit by this recession. You want them to pay more taxes, then fix the economy... not just the recession, but the economy that has increasingly favored the very wealthy over the working class in the distribution of the nation's wealth. This Mexicifaction of America trend, if not corrected, will lead to the collapse of our system.
I'm not certain of your point in all this. Do you think this group of people actually is actually stockpiling money? Do you think raising their taxes will move that money from their large bank accounts to fix our deficit issue? Have you ever tried raising a family on $50,000 per year (today's money)? Don't you realize they already pay a much, much higher percentage of their income in sales, payroll tax and use tax then those that have actually done well in this economy? Sorry, but your "let's get blood from a stone" rant is somewhere between ignorant to immoral.Wealth disparity in US.jpg
Last edited by upsideguy; 10-06-11 at 10:06 PM.