Isn’t redistributing wealth what taxes are for?
Listen: Ron Reagan gives us an update from the campaign trail
From Ron Reagan:
The Dow dropped today more than 600 points, the wires are reporting “renewed fears that economies in the U.S. and elsewhere are headed into a deep recession,” and so, we're wondering, who's going to get us out of this mess?
We’re tackling one aspect of the picture with James Kvaal, a senior fellow at The Center for American Progress, which takes issue with some notions of "spreading the wealth."
The Center argues today that, “Sen. John McCain (R-AZ) has been criticizing Sen. Barack Obama (D-IL) for his belief "in redistributing wealth." "I'm not going to redistribute your wealth," claims McCain. However, McCain is absolutely going to redistribute wealth. He is just going to redistribute it to the already wealthy. By doubling down on the Bush tax cuts and proposing $175 billion in tax cuts for corporations, McCain's policies will exacerbate the already astounding income inequality in the United States.”
Kvaal will make his case tonight and we’ll take your calls on the topic.
866 – 303 – 2270 IS THE NUMBER TO CALL-IN FOR YOU LISTENERS OUT THERE.
- FILED UNDER: Host Posts, Economy
- October 22, 2008
Sarah Palin / The Economy????
Let me get this straight. I am among millions who lost my job, I live in a county with a very high rate of unemployment, my unemployment check is $156 per week, (there are no jobs to be found), I eat with food stamps and Sarah Palin get $150,000.00 to spend on clothes. I guess the economy and what middle class Americans are going through are NOT the first thing on her mind!!!! Marilyn from Florida
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By missartOctober 22, 2008 - 5:39pmHey, didn't you hear
If you are not rich, you are lazy and immoral . If you lost your job because it was shipped to another country, you are lazy and immoral . If living off 156 dollars a week is impossible, you are uneducated, and it is the fault of all those union teachers who do nothing but sit around all day. If the rate of unemployment in your county is high, its because of all those damned foreigners (like those who took your jobs overseas, but we'll blame Jose and Maria on the corner, who are also trying to survive). If you get sick without any insurance, it's your fault for being so stupid as to get sick when you were unemployed and not spending $500 a month for Cobra coverage, even though all you get in unemployment is $636 a month. That's probably taxed, too, even though the unemployment insurance came out of your taxes.
In the area where I live, the smallest, crappiest apartments run $900 a month. Minimum wage is slightly over $7 an hour.
Good luck surviving on $636 a month.
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By MichtouOctober 22, 2008 - 8:33pmJust having to chime in.
Any Gvt activity at all will change allocation, distribution, and overall efficiency.
It seems to me the goal is to achieve the best mix of efficiency and largest SWF (Social Welfare Function) over a sustained time.
Markets are good for productive efficiency and not bad for dynamic efficiency, but the "victory" takes all the spoils and philanthropy does not make up the gap - and the non secular NGOs are the WORST for actually providing services to the client base they claim to serve. (This is not to slam many well meaning and caring individuals, but the system they subscribe to does not work.) If we cannot take care of the least advantaged citizens in our society, then not only is government not doing it's job, but as a society we are creating a dangerous environment for our citizens.
"naked options" - every one of these traders should be doing jail time.
ARPs and NINJA loans were a bad idea, and we can put most of the blame on Greenspan and the neoliberal repiglicans.
Remember the CUCKOO ECONOMICS- Gavin R. Putland
http://www.lvrg.org.au/Text/1131513121651-5817/Cuckoo-economics
The Great Depression of 2006—?
It is time to modify our collective value structure. People first.
Otherwise it is almost certain that other important institutions of our society will fail.
If we forget that allocative efficiency is the hallmark representation of our collective values then any ideal that we have a gvt of the people, by the people, and for the people is lost.
David Mull
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By mulldrOctober 22, 2008 - 8:30pm