That's more or less how Jeb Bush defended his tax plan to Fox News Sunday after he was slammed for giving lopsided tax breaks to the wealthy. He told Chris Wallace: “The simple fact is 1 percent of people pay 40 percent of all the taxes. So of course, tax cuts for everybody is going to generate more for people that are paying a lot more. I mean that’s just the way it is.”
What would less government mean for you? Will you earn higher wages, be more safe, live a healthier life, have more financial security and be more free? The Republican mantra is: Less Taxes + Less Regulation = Less Government and more Freedom
We've been told that lower taxes and more "growth" equates to higher wages and more jobs (known as "trickle-down economics"). But since the depth of the Great Recession, even though stock prices and corporate profits are much higher, a lot more people are "not in the labor force" (and just aren't being counted in the official unemployment rate) — and wages are still down (not to mention, more people are also working part-time and temp jobs).
The Federal Funds rate is still effectively zero. Surprise. Since 2008 the Fed has keep interest rates an unprecedented effective zero, giving a free ride to big debt and Wall Street. The phrase that pays from the Fed is a highly accommodative policy.
The latest jobs report shows that, once again, over a quarter of a million people have dropped out of the labor force. So should we celebrate Labor Day for just being lucky enough to have a job — any job at all?
The prominent economist and Nobel Prize winner Joseph Stiglitz (and a Fellow of the progressive Roosevelt Institute) says: “An economy that doesn’t deliver for most of its citizens is a failed economy.”
Are we witnessing the corruption of central banks? Are we observing the money-creating powers of central banks being used to drive up prices in the stock market for the benefit of the mega-rich?
According to Pew Research, this year the Millennial generation (ages 18 to 34 in 2015) is projected to surpass the Baby Boom generation (ages 51 to 69) as the nation’s largest living generation — with 75.3 million Millennials vs. 74.9 million Boomers. The Gen X population (ages 35 to 50 in 2015) is also projected to outnumber the Boomers by 2028. Where will Social Security be for them when they retire?
Do you remember when real reporters existed? Those were the days before the Clinton regime concentrated the media into a few hands and turned the media into a Ministry of Propaganda, a tool of Big Brother. The false reality in which Americans live extends into economic life.
For the past 40 years, our political leaders have not only allowed, but have deliberately effectuated economic polices that have crammed most of the profits generated by ordinary working people into the pockets of those at the very tippy-top of the income ladder — by conspiring against organized labor, giving preferential tax breaks to the very wealthy, and by allowing bad trade deals to offshore our best jobs.
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