Most of you probably got this from MoveOn.org, but for those of you who did not, here you go.
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The American Dream is slipping further out of reach for most Americans—we all know that. But explaining why—quickly and clearly—isn't that easy.
So when former Labor Secretary Robert Reich told us he could do it in less than 2 minutes, 15 seconds—I'll admit, I was pretty skeptical. But he did it (with illustrations to boot). And it's great!
You've got to check it out. Then share it with any friends who you think could use a simple, clear rundown of the progressive take on the economy.
Watch the video (https://www.moveon.org/r?r=209212&id=28032-15433569-T7YzZUx&t=2)
Speak2Truth
07-26-2011, 05:57 AM
The fundamental deception at the root of this video is that the "super rich" are somehow hoarding wealth out of reach of everyone else. That's ridiculous. The wealth has not "gone" anywhere, at least not in the manner claimed by Reich.
In truth, what they "own" is companies and assets that are in use to generate more wealth. Does a super-rich guy own Microsoft? Yup. Is that wealth being used to enrich others, including janitors, repairmen, programmers, furniture builders, landscapers, graphic designers, computer manufacturers, flooring installers, food vendors, juggling supply companies, food growers... and so on? Yup.
It is the "rich" who use assets to produce wealth.
If you want to see wealth disappear, just let Government get their hands on it.
As for his claims about less tax revenues, he's full of crap.
https://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200
Government raked in $517 billion in 1980. In 2010, that number had reached $2.16 trillion. He claims the economy doubled in that time and tax rates on "the rich" (employers) were reduced. So, that's a quadrupling of tax revenues even as tax rates were reduced. Well, that is an observable and repeatable trend. That's how the Great Depression was turned into the "Roaring Twenties", after all. The other half of that formula for success was to reduce the size and cost of government as well. It works.
Nowadays, the top 1% of highest earning Americans pay 33% of all income tax but only earn 16% of all income in this nation. How is that "fair"? Oh... 50% of Americans pay no income tax at all. A lot of them must think that is "fair" to themselves, without regard for fairness to others.
https://www.taxfoundation.org/blog/show/341.html
A final consideration: It is those "Rich" people who create prosperity-producing jobs for our nation. They ensure costs are below value created and they have no power to take a penny from us against our will, therefore they do not indebt any of us.
Government, however, drains away prosperity by funding endless layers of bureaucracy, by sending our cash overseas without our permission even as Americans struggle to make ends meet, by intentionally creating an ever growing class of people who depend upon government largesse for their very survival and will therefore reliably vote for whomever is promising them more handouts. If you do not hand your cash to the government machine you will meet men with guns who will force you to.
Government does not need to run efficiently, keeping costs below value produced, since it can simply compel the American worker to hand over more and more cash to fund its operations. It seems whatever Government funds with our money turns into a huge money-losing boondoggle - and WE are stuck with the bill. It is Government that is being unfair to us and that is bankrupting and enslaving the American People. A free-market employer has no such power.
Reich is not an idiot - but he expects you to be.