Ever since the election of the “Great Liar,” President Ronald Reagan, tax cuts for the rich have been destroying the middle class. There is not a shred of evidence that tax cuts for the rich have ever created a single job. That’s because they destroy jobs. The evidence is all around us and in the video below.
The money the rich receive from their tax cuts are used to put greater pressure on CEOs and politicians of both major political parties to redistribute income from the 99 to the 1 percent. And why wouldn’t they do that?
In the long run (about a year or somewhat less) if the values of corporate assets, such as stocks and bonds, don’t go up, then they must go down. There is no middle ground. Rather than see their assets decline in value, the rich prefer to redistribute income from the 99 to the 1 percent so that the affluent can continue to purchase these assets and bid up their prices. It’s a never ending process until the point at which the economy must collapse when the parasite (the 1 percent) weakens the host (the 99 percent) too much.
This occurred during the 1920s and resulted in the Great Depression. It’s also happening now. The affluent have used politicians such as Wall Street Senator Ron Wyden to steal from the 99 percent using free trade treaties and deregulation legislation, or to pass weak Wall Street regulations. There are a variety of other legislative and governmental actions that can achieve the same results, but not as effectively as free income redistribution trade treaties and deregulation. That is why the Trans Pacific Free Income Redistribution Treaty is sought by the forces of the 1 percent.
Only the New Deal, the Great Society Programs and the federal deficit are holding the economy up. They keep putting money in the hands of the declining middle and lower classes, thereby increasing the demand for goods and services. Still, the economy is getting worse. Our situation will continue to deteriorate regardless of whom is elected president in November 2012.