The problem with this scheme is that it works by stifling innovation and competition. The wealthy stay wealthy by extracting value instead of creating it. The more value they extract, the more laws they write protecting the rights and privileges of the extractors. As companies like General Electric realized, it was better to sell off productive assets and become more like a bank. The system was created for people who have money to make money.
I could certainly use a portion of the money and would most certainly spend it frivolously. I would be more than happy to help re-grow our economy by spending a portion of the money borrowed from other countries instead of giving it all away to individuals and institutions which caused my drop in income in the first
We don't succeed when a few at the top do well while everyone else struggles to get by -- we're better off when everyone gets a fair shot, everyone does their fair share, and everyone plays by the same rules. When Bill Clinton was president, he believed that if America invested in the skills and ideas of its people, good jobs and businesses would follow. His economic plan asked the wealthiest Americans to pay a little more so we could reduce our deficit and still invest in job training and education, research and technology, better health care and a dignified retirement. And what happened? By the end of his second term, our economy created 23 million new jobs.
Economic Hit Man In the prologue of John Perkins,we understandhow US commercial interests have no limits no boundaries and no morality when it comes to their goals.John Perkins explains to his readers how the (EHM) are highly educated and paid professionals who deceive countries around the world to take out loans in order for them to invest in their infrastructure and development projects. These individuals make sure lucrative projects,and are contracted to US corporations so they eventually just benefit U.S corporations. These individuals give loans to countries knowingly they simply cannot handle the amount of debt because of the loans interest they would have to pay and the resources they have. This deprives citizens from those countries from various social services for many years,
The private zaibatsu (10-15 extremely powerful corporations) ,the heads of which had direct ties to the ruling Oligarchs, directed the economy towards pure profit at the expense of workers rights. This modernization policy helped the ruling class expand the economy rapidly while still realizing vast profits. Not only in the economy was the Oligarchs hunger for power apparent, the way the government worked was to the direct benefit of the select few men in power. The elite men in power very shrewdly gave the public a sense that the
The wealthy have the means for making new technology accessible to themselves, and because of this it gives them, great knowledge and knowledge is the foundation of power, which leads to more wealth. On the contrary, the plunging descent of those individuals who are financially crippled and therefore, do not have a passage to power or wealth or technology. This inequality put the wealthiest people in a position to dominate and in some cases control the decision-making process while leaving the less fortunate under the eight ball with their needs being ignored and they not being fulfilled. The other area of concern is the moral and ethical dilemma that has come about as a result of the growth of new media technology. The main area of concern is the privacy issue.
Wealth and Poverty, written by George Gilder, is a depiction on how to increase wealth and curtail poverty. Gilder argues thoroughly throughout the book that society has been misled by popular economic theory and by general culture attitudes into only having a small percentage of wealthy people and having the majority of people in society living in poverty. He documents the ways in which the blighting of incentive has crippled productivity in society and shows how the essence of capitalism is not greed but giving by investing money and energy. Gilder states that the “golden rule” of economics is the idea that the good fortune of others is also finally ones own. The scientific basis of the golden rule is in the mutuality of gains from trade, in the demand, generated by the engines of supply, in the expanded opportunity created by growth, in the usual and still growing economic futility of war (Gilder, 9).
Although the rich is being blamed for this tax reform, The Cato Institute’s Edwards say the main loopholes on the individual tax code are actually middle class benefits. Middle class lacks the knowledge of knowing when tax breaks are beneficial to them. The mortgage interest deduction and the exclusion for health care insurance are two benefits for the middle class, but the wealthy folk hire lawyers and accountants to get around, to benefit excessively from these tax code
After reading some of the tutorials in this article I wondered how many of these people gave it all they had. I think what made the middle class so great in its day was the fact that most of the folks in this income bracket made donations to the rest of society. Without a strong and healthy middle class we are just left with the rich and the poor. The rich try to convince the rest of us that if you work hard enough you too can be a CEO. And the poor know better.
Globalization is also the cause of inequality in the worlds economy, considering the fact that globalization has benefited the rich much more than the poor. While poverty rates have fallen as a result of our world becoming globalized, the workers are still getting an incredibly low income, which might cause social instability and conflict. Globalization has had a positive impact. One of the main advantages is that based on per capita GDP