How, by recognizing that banks exploited their customers, because they sold products without keeping any skin in the game themselves, and betting against what they sold? By pointing out that the ratio of CEO pay to other employee pay has skyrocketed from 25:1 in the 1970s to over 200:1 now? How CEO's get huge compensation packages that are disconnected from performance? How CEO's who depart or are fired get massive golden parachutes? How mass layoffs tend to be associated with a boost in stock price? By pointing out how wages have been falling for everyone except the top 1% of earners? By being aware that top earners influence lawmakers to riddle the tax code with loopholes for their advantage, and use them to reduce their effective tax rates? By noticing that a significant portion of the super-wealthy are not "job creators," but rather people in the financial sector who generate their income (which is often taxed at low rates, since it's classified as "carried interest") by engaging in high-speed trading and arbitrage -- i.e. placing bets on obscure economic factors? By noticing that private health insurance in the US has become an abject failure, with insurance premiums and medical costs massively outpacing inflation for well over a decade?and how in a private sector economy they attack wealth creation
Of course, you're probably going to read that and assume that I'm a commie pinko. But actually, I'm not. I don't hate corporations or CEO's or even hedge fund managers. I don't reject capitalism. I don't want government to nationalize any corporations.
I'm just aware that the super-wealthy have stacked certain systems in their favor, and in their own self-interest, and as a result everyone suffers. CEO's focus on short-term profits and stock prices; hedge funds don't care about potential contagious effects of their work; banks and mortgage brokers are happy to sell off all their interest in MBS's and derivatives; investors don't care about fundamentals or long-term viability. And if the average person's wages keep eroding, then the entire economy ends up suffering. I also don't want to create or perpetuate safety nets that then turn into welfare traps.
I.e. the incentives and the tax system have gotten off track. Acting like nothing is wrong, and that CEO's and hedge funders are the Golden Boys of Capitalism, or that the government should eliminate all oversight, is a huge mistake and will end up damaging the economy.
Now, I will admit there are some on the left who are anti-corporate. But there are plenty of people on the right now who feel the same way, as typified by their rejection of the auto and bank bailouts, and now a desire to shut down the Ex-Im Bank (and they're just getting started).
Or, we can recognize that some programs actually do keep people from abject poverty; that not every aspect of a safety net is a welfare trap; and that millions of people who are collecting benefits are in fact being treated compassionately, because they are too old to work.nothing about the trillions being wasted by the Federal Govt. all in the name of compassion but never generating compassionate results.
What liberals want to point out is that Bush lost 750,000 jobs a few months but ignore the reality that Obama had over a million discouraged workers who aren't counted as unemployed thus making the unemployment number look better than it actually is. Last time I checked a million discouraged workers is higher than 750,000 unemployed. Adding unemployed and discouraged workers still has Obama with a worse economic record.
I don't give a damn about the super wealthy, why do you? What did they do to prevent you from becoming wealthy? You care more about what someone else makes or pays in taxes than the waste, fraud, and abuse in a 3.8 TRILLION Dollar Federal Govt. Why is that?