Everything the Fed and the Administration and the Congress did to respond to the GFC was bound to act mostly on asset prices, and it’s wealthy people who own assets.
In fact, we do win it when the choices are clearly posed. If private investment accounts in SS were offered, there would be a mass exodus, and everyone knows it. The left lies to change the subject. That's the challenge.
On my optimistic days, I think that sooner or later someone with stature on the left will break ranks, and then the change may very well be rapid. The implicit tax imposed on lower income people by trapping them in SS is staggering. On the upside, nothing would do more to significantly change the distribution of wealth in this country than private investment accounts in SS, sustained for a couple of generations. If liberals really want to reduce wealth inequalities, this is an easy, and very powerful, place to start. The smarter ones know it, and they know that they are selling out the people they claim to champion in the interests of maintaining a politically useful lie. Sooner or later, someone will break free.
The same is true for school choice, but that's for another day.
Semantics. He spread your money around to a few friendlies who spread some back, like an equally immoral orgy with your children’s money, the otherwise intended recipients of your money.
He had to repay Soros and pals back some how.
Quinn’s First Law: Liberalism always generates the exact opposite of its stated intent.
Collectivism favors the elites at the expense of everybody else.
Obamacare has made it so companies will keep employees’ hours below the 29-hour threshold. So people have to work multiple low-paying part-time jobs [with no benes] in order to somewhat make up for the good full-time jobs they had.
Essentially, this means that people are switching from 40-hour workweeks with healthcare to more hours for less pay for fewer or no benes. Before Obamanation, the majority of newly created jobs were full-time. Now they are part-time.
The percentage of working age adults who have jobs [labor participation rate] is the lowest it’s been since America was recovering from Jimmy Carter. Compare the number of unemployed Americans to the that of economic refugees who are here illegally. They are welcomed into this country by political interests who see them as fraudulent votes that can be bought with taxpayer-funded benes and economic interests that are addicted to cheap, exploitable labor.
All of this has been great for the stock markets as employers are are getting more work for less pay. Those who still have jobs are expected to do the work of the workers who were laid off or never hired in the first place, for no extra pay — and be grateful.
This is not compassion. This is not ‘social justice.’ This is a cruel, arrogant elite lording over a citizenry that is deliberately kept ignorant, impoverished and disenfranchised.