Please listen to the audio or read the transcript of "Implications of America's New Gilded Age," broadcast by NPR on the Diane Rehm Show on September 12, 2013. What are the participants talking about? What are your thoughts about and reactions to the subject?
Use the comments section below to respond. While I want you to use correct grammar and mechanics, I will be reading for content; please focus on what you understand, think and why.
I agree with Mary Claire, in her comment that we need electoral reform. We're not a democracy, but a republic, with elected officials actually voting for legislation. Because of that, those legislators can be influenced by a disproportionately small part of their constituency: the very wealthy parts of it. Politics has become about the rich paying the politicians to stay rich, and the reason it's allowed to go on is the idea that people have (I see this particularly in the conservative side of politics) that raising taxes on the rich will hurt the middle class. The reality though is that socializing more programs and things like healthcare will not only help the poor, but the middle class as well, and things like raising the minimum wage would help boost the economy which would have the long term effect of making the lower and middle classes more wealthy. There are all these tax breaks that are helping people with vast amounts of money living luxurious lives and it doesn't make sense that they need that governmental assistance (in the form of tax breaks) while the rest of the country can do just fine without help. It's completely backwards.
ReplyDeletei understand your stand but at the end of the day it is a fantasy of reality.
DeleteI agree with Andrew. It is, in my opinion, unfair that the extremely wealthy receive these tax breaks which allows them to remain extremely wealthy...there seems to be no consideration at all for the middle class or lower.
DeleteI agree with Andrew and that's is what I want to say. I am also think itunfair that only wealthy receives the tax.
DeleteI have multiple feed backs towards this topic and the individuals that addressed them
ReplyDeleteOVERALL: overall the middle class though individually there may be some growth, it itself is weakening and if economic structure is to be strong it falls to having a strong middle class. for a strong middle class is what can make or break our fall in the end.
Yes, the economy is emerging from its recession. Almost everything is recovering, from home sales going up, to banks showing better balance sheets, n good credit. Not everyone is enjoying the same luxuries as everyone. the one percent'ers wages are real close to their full wages, while the rest of the 99 are just bearly starting to recover. the one percent'ers income earn pay supposedly 40% off their tax and the bottom 50% income pay is 2.7% which i think is not so bad the one percent'ers still get to pay more taxes then the middle class. So lets say person "A" has 1,000,000 and his tax is 40%, the government takes $400,000 of tax and he is left with $600,000. Person "B" makes 30,000 so the government take 2.7% so government takes $900 so person "B" is left with $29,100, so taxes on middles class i believe is not that bad.
ReplyDeleteOne thing about the wealthy is that some of their wealth comes from things like stocks, which are taxed differently. Currently they're taxed at 20%, which is half the 40% rate for normal income.
Deletetaxes arent that bad but the cap of $400,000 is as ALL of the lower end incomes are subject to tax that over the amount isnt.
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ReplyDeleteResponse to COONTZ:
ReplyDeletePeople are selfish creatures at the end of the day they base confidence on self worth, they base self worth on how well they preform(even when others are involved). It is that same selfishness that shall keep us divided in relation to wealth. If an American is advancing, who cares if the others aren't, "I am." As with raising taxes, why? when it will go to help someone who isn't me. "NO!" Society must help me and I must help me help myself in turn keeping my taxes low keeps my profits high. There is an exception for those who wish to "give back" they are governed by a "system." In the end, the less fortunate are divide like a lot in society by race, those that deserve it (whites) and those that don't (black and hispanics) Coontz, went on to discuss gays/lesbians, what does one's sexual orientation have to do with their ability to be successful financially. When all is said and done its is the same 10% that feed into the government to structure a system that benefits them and without accomadating the other 90%, you know the MAJORITY.
I agree with Samiria in that the top 10% feed into the government, and as a result, the politicians help the rich stay rich. They seem to forget the fact that the middle class, which is the majority of the population, is the reason that those at the top are where they are. They would not have businesses if it weren't for the consumers that spend money on their products/services. The middle class needs the help because if they get to such a low point beyond repair, then every other level of the economy will suffer as well. Unless the government and those in the top bracket try help fix this income inequality, then they will become the cause of their own downfall.
DeleteMoney is the true motivator for government officials. The current economic system controls the true decisions of high power officials. Since there exists a coalition with both economy and politics there is no stable control between the two. It is true (and sad) that the preference for the elite is getting clearer and clearer. An example is education, it is getting more expensive exponentially and the people who cannot afford such education cannot obtain job stability. Wealth is slowly being accumulated by the rich and the classes that suffer are the middle and low. People are entitled by law for political transparency and still there is none, if Big Oil benefits from a tax increase it will plead the government or even extort it to have such increase. The world (at least the capitalist) is not represented by governments but by multinational corporations. By having general discontent slowly increase (tax increases as well as prices), the "little-man" will eventually be so unhappy of such conditions that they will protest and look for a new standard of life. Unless companies stop pushing for such conditions they are headed to a very problematic situation. The working force of all companies are "little guys" and are as expendable as a plastic cup in their perspective. People have to realize the abuse that is going on and how money is creating a situation that in a couple of decades might make our world a living hell where every person without a steady income will perish. The elite can afford to give back a little something especially when they have a stable revenue, greed will be the end of the world.
ReplyDeleteYou have a very good understanding of the way the world works. And I agree with everything you said. Greed will, indeed, be the end of the world.
DeleteI agree with Mary ,because She insisted that we need electoral reform.It is unfair that only the top 1% of wealthy receives tax. For instance,raising the minimum wage would help boost the economy.
ReplyDeleteThis whole discussion, in my opinion, can be summarized rather briefly:
ReplyDelete1. Greed will be the end of the world.
2. Lack of respect and sympathy for our fellow man does not help.
3. Lack of a strong middle class makes the situation worse....
4. Which ties in to the lack of acceptable occupations for the "other 1%"
5. And this will ensure that every person not considered "very wealthy" will continue to struggle...and possibly perish.
...to summarize.
Greed will be the end of human civilization.
DeleteThat's why you guys should've voted Ron Paul. :p
ReplyDeleteLook for discussions of Libertarianism in relation to wealth inequity. Not party platforms, but studies and articles.
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ReplyDelete1 Timothy 6:10 For the love of money is the root of all evil.
ReplyDeleteWhen the subject of politics comes into play, I do not claim to be knowledgeable on the subject. But I do know that the wealth are growing wealthier and those that are in poverty are struggling every day. The rich are securing their fortunes and the poor are merely trying to live. How is this fair?
ReplyDelete"The top 1 percent of American wages are close to full recovery while the bottom 99 percent have barely begun to recover. In fact, the top 10 percent of U.S. earners took in more than half the country’s total income last year, the first time that has happened in a century."
This fact alone was astounding in my opinion. Only 10% of our population was making up for the majority of our country's income? The 90% is too large a percentage to even grasp. My mind raises a couple questions, such as what conditions were U.S. citizens in during this recession and how many are still struggling to equate to normalcy once again? What their lives once were before a decrease in income, lay offs or the every day expenses that now are too great to bear? And what can they do to go back to what once was?