I posted yesterday about the tax revenue- in the many billions of dollars every single year- not being realized by our government due to the many tax loopholes available to the wealthy.<quoted text>
I honestly don't think that forced sterilization is a good answer, either. It's nice to vent, though.
So what IS a good answer? What can we do about this ongoing problem?
I know you will shill for the wealthy yet again, but really, save your breath.
Proportionately speaking, most tax paying Americans pay a far higher percentage in taxes than do the ultra rich in this country.
I think a more level playing field would go a long way, but I also realize that not only would that be a major undertaking, the ultra wealthy and the ultra powerful do not want a more level playing field.
Hence, the rich continue to get richer, while the poor continue to get poorer.
Do you know that there really is no actual middle class to speak of in the USA anymore?
"NEW YORK (CNNMoney)-- Are you better off than your parents?
Probably not if you're in the middle class.
Incomes for 90% of Americans have been stuck in neutral, and it's not just because of the Great Recession.
Middle-class incomes have been stagnant for at least a generation, while the wealthiest tier has surged ahead at lighting speed.
In 1988, the income of an average American taxpayer was $33,400, adjusted for inflation. Fast forward 20 years, and not much had changed: The average income was still just $33,000 in 2008, according to IRS data.
******Meanwhile, the richest 1% of Americans -- those making $380,000 or more -- have seen their incomes grow 33% over the last 20 years, leaving average Americans in the dust.******(How the rich became the über rich)
Experts point to some of the usual suspects -- like technology and globalization -- to explain the widening gap between the haves and have-nots.
"How desperate is the average American?
Behind the anguish are a barrage of studies and indicators that point to decades of struggle and backsliding, beginning as early as the 1970s.
Of course, everyone knows about the 12 million-plus Americans swelling the current unemployment ranks. But they represent only a small part of an increasingly systemic jobless problem. More than 8 million have settled for part-time jobs because they can't find full time positions, according to the Bureau of Labor Statistics. And millions more have become so disillusioned that they've dropped out of the workforce altogether.
The long-term trend is truly worrisome. For the American worker, each economic downturn since 1981 has been more bruising than the last, with the jobs market taking progressively longer to recover pre-recession levels. In 1981, it took 27 months for employment to recover. The relatively shallow 1991 recession cost 32 months; 2001 took four years.
Now, more than five and a half years after the Great Recession, unemployment languishes 3 percentage points below normal. With some 50,000 US factories closing since 2000, the prospect for a quick turnaround is grimmer than ever.
“The danger is that full recovery does not come at all,” warned the Economic Policy Institute in a recent report, which blames Washington, not workers.“Nations have thrown away decades of growth because policymakers failed to ensure complete recovery.”
To the American middle class, it increasingly seems that the invisible hand of the market no longer values its formerly vaunted talents and work ethic."