Skip to comments.GHEI: The Poorer Middle Class. Obsession with Income Redistribution is Destroying U.S. Productivity
Posted on 06/15/2012 6:12:55 AM PDT by lbryce
Obsession with income redistribution is destroying U.S. productivity
President Obamas re-election prospects dim by the day. When it comes to all-important pocketbook issues, Americans quite simply are worse off now than they were when this administration moved into the White House. The Federal Reserve released its latest Survey of Consumer Finance on Tuesday, which confirmed widely held sentiment with hard data: Americans are poorer today than they were in 2007, when the Great Recession hit.
The difference between now and then is massive. The median household saw almost 39 percent of its wealth evaporate, and real income (that is, the amount adjusted for inflation) fell 7.7 percent. Only the old and the bottom 20 percent on the income ladder escaped the wealth destruction and income loss.
Much of the decrease in net worth can be ascribed to the housing bubble that burst before Mr. Obama took office. This was akin to a correction in the marketplace. However, misguided policies are preventing the economic growth needed to pull out of this slump. With Taxmageddon set to hit Jan. 1 as the George W. Bush tax cuts expire and businesses struggling under the weight of ever-expanding regulation from Washington, theres little hope for meaningful recovery any time soon.
(Excerpt) Read more at washingtontimes.com ...
Obamaism, is the method in which a highly industrialized,technologically advanced country with the highest industrial productivity in the world is brought to an economic standstill,where the Middle Class is eviscerated through policies that de-emphasize high-tech jobs, manufacturing etc of which is de facto income redistribution, whereby everyone is brought down to poverty level, and with no high-tech quality manufacturing jobs to speak of, productivity doesn't even apply anymore. This is it. This was Obmaism as it was ready to be unleashed on Jan 20, 2009, ready, willing, able to reverse the process of American might. economic supremacy and industrial wherewithal, of the dismantling the greatest economic, industrial power in history. He wasn't simply a know-nothing, not merely not having the slightest most infinitesimal idea of how to run a laundromat, but sure as hell well adept at doing what J Robert Oppenheimer said when detonating The first atomic bomb on July 16, 1945 in the Trinity test in New Mexico; Oppenheimer remarked later that it brought to mind words from the Bhagavad Gita: "Now, I am become Death, the destroyer of worlds."
Trickle down economics increases the wealth of everyone.
Trickle up economics destroys the wealth of everyone except the very top.
As more and more people get on the govt dole, the money they are spending goes to the top, the people providing the goods and services.
It also causes a price increase in the goods and services so the people that are paying for the goods and services out of their pockets and not the govt pocket, are loosing their wealth through inflation.
Raise taxes on the rich, they raise their prices.
The price increase doesn't affect people that are getting everything for free from the govt. It affects the people that pay for it themselves.
The dems have been on the fast track to destroy the middle class since LBJ's Great Society.
Most great countries became great because they possessed a strong productive “middle class.” In ancient Rome, it was the independent farmer who owned and worked his own land, and put on the sword and shield when his country called.
As nations age or move toward an authoritarian society, the middle class is destroyed by the “elites” who take their land and liberty, and reduce the population to dependency.
The USSR moved very quickly in this direction with Stalin’s collectivization and destruction of the “kulaks.” (A Kulak being defined as anyone who has one more cow than you.) The “productivity” of the USSR was a facade. In addition to the inherent problems of a command economy, one salient economic problem was that they never stopped fighting WW2. They kept the country on a permanent military production footing. You can do that for five years to defend your country, you can’t do it for 50.
Socialism, or its American form, 0bamunism, is simply another form of economic authoritarianism. There can be no independent middle class. Only a mass of dependents. It’s interesting that he is using the exact same tactics as Stalin by creating class envy to shackle everyone to the yoke of government. I’d say that based on this article, 0bamunism is working exactly as it is intended.
Lets quit calling it income redistribution but use the real title.....stealing from the citizens that work and giving it to the bums and or their friends....taken at the point of a gun...
The poorer middle class doesn’t want wealth distribution, it’s the wealthy elites who propagate the lie so that the poor and the politicians make it happen, yet the poor will remain poor and the wealthy will get richer while the middle class becomes a figment of their collective imaginations!
Their gold plated health care
Their tax paid bloated wages and perks etc...
So everyone else just STFU OK?
Presidential candidate Reagan asked, “Are you better off than you were four years ago?”
Romney should say, “You ARE 39% worse off than you were four years ago”.
Karl Marx came up with the idea of wealth redistribution.
Karl Marx also hated the middle class. His ideas were ways to get rid of the middle class.
Using Marx’s ideas to help the middle class is like using Hitler’s ideas to help the Jews.
If the MSM had been in Hitler’s pocket like they are in 0bama’s, the headlines would have read: “Führer to end crowding at synagogues”.
Most people of the middle class are either paid by government or dependent on government employees for service business. They are the constituents behind the politicians. What are they producing?