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View Diary: Over the cliff I go. Not laughing. (159 comments)

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  •  There are not enough rich people to have created (1+ / 0-)
    Recommended by:
    Roadbed Guy

    this mess. If you took all the wealth from the top one percent do you think it would even come close to paying off our debt.

    "If the past sits in judgment on the present, the future will be lost." Winston Churchill

    by Kvetchnrelease on Fri Dec 21, 2012 at 07:46:28 AM PST

    [ Parent ]

    •  I don't understand the connection (4+ / 0-)
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      AoT, jabney, Noor B, Brooke In Seattle

      Policies that favored the wealthy have over the last 30 years caused us tremendous deficits.  It has led to our current level of debt.  That there isn't enough current wealth to cover the debt today doesn't indicate a lack of responsibility.  You only need what? 300 people to have total control over spending in the US?  That's affordable if you have deep pockets.

    •  There sure are enough rich people (2+ / 0-)
      Recommended by:
      Noor B, Brooke In Seattle

      to have created this mess.  And in fact they did create this mess through numerous methods.

      The revolution will not be televised. But it will be blogged, a lot. Probably more so than is necessary.

      by AoT on Fri Dec 21, 2012 at 10:07:31 AM PST

      [ Parent ]

    •  Actually, it would. (7+ / 0-)

      The total household wealth in the US is somewhere between 50 and 60 trillion dollars. The top 1% own 35%-40% of it. so over 20 trillion dollars. That would actually pay off the entire national debt.

      Not that I'm advocating doing so. but I'm not not advocating it :)

      The top 20% own 80% of the household wealth. So yeah, there is a problem. It is actually the core problem of the economy, and probably the political system. Progressive Taxation can fix it. It is a money pump that keeps the economy flowing, as it did for the greatest period of American power.

    •  Wow, you are a real plutocrat ass kisser (1+ / 0-)
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      You little lapdog fuck.

    •  BWAAAH-hahahahahahaaaa! (0+ / 0-)

      You're so funny!  Not.


      Pull the other one, it's got bells on.

      "Fighting Fascism is Always Cool." -- Amsterdam Weekly, v3, n18 (-8.50, -7.23)

      by Noor B on Fri Dec 21, 2012 at 12:45:43 PM PST

      [ Parent ]

    •  are you nuts or just a low information zombie? (7+ / 0-)

      It is not only a question of taxing the rich, but how the CEO elite of the United States has been on a capital strike for more than thirty-five years and has in a very real sense abandoned the nation for sake of short-term rates of return.

      Since the late 1970s the largest 600 corporation have followed a combo plan of off shoring capital and jobs to nations where workers’ right are a joke and/or to better serve the local markets they seek to profit from by switching  99% of their focus to foreign markets,  because the return is higher for little effort on their part; either way the larger economy of the U.S.A has been on a downward spiral since the days of Jimmy Carter.

      The brief uptick during the Clinton years was mere happenstance a pure accidental fever driven by internet wishful thinking and Greenspan shoving shit loads of billions of credit card debt into consumers hands while at the same a time twenty year pump up the housing market to delude everyone we could speculate and live off housing as a substitute for making things.

      When you walk through the local Home Depot just remember that only thirty-five years ago almost everything you see was made here and sold via a locally owned small hardware stores.

      That old retail space is gone thanks to Wal-Mart, and that now gone manufacturing base has been replace by global con game where elite corporate parasites really do think the twenty million or so under –employed and the 12 million long term un-employed can just die off while the rest of us pile up credit card debt to keep buying to support the fantasy dysfunction economy based on nothing more than whims and the delusions of narcissistic overpaid elite corporate thugs.

      The said truth is 90% of board room America could not invent a new product or service if their lives depended on it.

      This massive corporate entities prosper on the invention and capital that on the whole can be traced back to the period 1940 through 1975 which they took for granted and then set about shipping overseas because real innovation and service to the customer took a back seat to destroying the New Deal and the unions that made our industry might a living breathing reality that actually raised all boats in the economic harbor.

      The net result the last forty years is the tax base of this nation has been hollowed out and replace with millions living on the edge – barely making the bills each month, and after each new layoff wave millions more pushed into the very real world of fuck off and die.

      Yes taxing the rich is only just a start, but sadly the real debate should be about new industry and bringing manufacturing back to the US.

      Only trouble is the CEO elite will never do this unless they are given a Union free environment and complete control of all politicians and only have to pay about 3% or 6% of their real income in the form of personal or corporate taxes and Social Security and Media Care are destroyed so they can live in a world where they do not have to comprise on anything.

      In short a very feudal arrangement, because, after all, for more than thirty years millions of American jobs have been sent to Mexico or China and a few dozen other worker paradises where the return on investment is high enough to make it possible to ship said products back to a nation where more than 60% of population now can only look on and make choices like our family does:

      NO Flat Screen TV, no cable bill, no Tivo. My cell phone is 7 years old. No I-phones- no I-pads nothing that is not directly related to the mortgage, insurance and clothing on our backs or food in the fridge.

      My first pay-cut was back in 1997 and many of us older workers were quietly given the hint back in 2000, long before the economy tanked  never expect a pay raise for the rest of your working life, no mater how skilled you are.

      When the company I work for laid off 8 workers last year, (10% of our work force and second round of layoffs since 2008 meltdown), I learned two months ago that two of my ex-co-workers are now homeless.

      Yes, indeed, the United States has become an economic dictatorship of the businesses elites and the degenerate super rich, taxing them to pay for American civilization should be the least of their collective worries.

      From my view most of the businesses elite in this nation are spoiled narcissistic brats who long ago abandoned any pretense of due diligence beyond what pads their personal pockets.

      Which leads me to this conclusion: they should worry more about that millions of us who would rather watch them burn and fuck die and being over taxed should be the last thing on their little selfish fuck brains.

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