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Archive for January 2nd, 2013

Why Do We Keep Sending These Kind of People to Washington?

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1. Payroll taxes are going up, from 4.2 to 6.2 percent. That should have a slight negative impact on the economy, about a $1000 a year per wage earner, but it also strengthens the Social Security Trust Fund, which has a $2.7 trillion surplus that collects $118 billion a year in interest. That’s something politicians of both parties don’t want you to know.

2. The underlying problems of the economy will not be fixed by the deal. Too many jobs have been shipped overseas and most of the incomes those jobs provided have been redistributed into the pockets of the 1 percent. That’s the real purpose of free trade deals. That means our tax base has been shipped overseas. And that means we’re not going to deal with the deficit any time soon, and it means that tax money that support schools and other things provided by local and state governments will be short, since that money has been redistributed into the pockets of the rich by such politicians as Wall Street Senator Ronald Wyden.

Below is a graph from the New York Times of how the deal is going to impact households. Click the following link to get to the graph. http://www.nytimes.com/interactive/2013/01/01/us/politics/impact-of-the-tax-deal.html?ref=economy

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Income and wealth became more concentrated over the last four years. Some figures suggest the 1 percent now receive 28 to 31 percent of the total national income, compared to 23.5 percent four years, and just 8 percent in 1980. Liberals continue to use the figures from four years ago, and ignore such facts that the 1 percent stole 93 percent of all US income growth in 2010. Perhaps that way they can champion Barack Obama as a champion of the people, which he most certainly is not.

This process of redistribution over the least thirty of so years means a weakened economy because the 99 percent have less money to demand the goods and services necessary to create jobs. The 1 percent mostly purchase politicians and derivatives, which is a market now estimated to be between $200 and $500 trillion. That market has grown astronomically since President Ronald Reagan began his war against the middle class. That’s a ton of money that could spark demand if it were in the hands of the 99 percent. As it stands, most of that money has been stolen from the 99 percent via federal legislation, such as free income redistribution trade treaties.

Click the link below for more on this issue.

http://billmoyers.com/groupthink/underreported-stories-of-2012/the-concentration-of-wealth-and-the-spread-of-poverty/

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