America’s Economic System is heading for Destruction.
America’s economic system is in crisis mode and no one’s talking. “Wealth Inequality” in America has never been wider than in the present. Ten-percent of Americans has over 50% of our nation’s wealth. While one-percent of Americans own 20%. Is America’s economic system failing most Americans?
As a matter of fact, most Americans struggle on wages less than 10 dollars per hour putting them below the poverty line. The salaries of top CEO’s are often in the billions of dollars. Income inequality is also a global issue. One-percent of the world’s population owns over 40% of its wealth. What does this all mean? What are the ramifications? How did this materialize?
America’s Economic System is in Decline and Wealth Inequality Rules the Day!
Not to mention, a new Trump tax code that raises healthcare cost, cuts social programs like Medicaid, Pell Grants, and Food Stamps and insures over the long-haul tax hikes for the working class. The evidence is pointing to the fact capitalism is in its late stages. We are at a point in which the capitalist system that has been the most influential for decades that once created a vibrant robust middle-class is in decline.
America’s economic system once responsible for lifting everybody up since becoming the global system, as a result, has become the exact opposite. This global transformation has produced preposterous worldwide inequality. To put it differently, America’s economic system has failed to live up to its promise.
And now, in the present, the global elites and their pocketed politicians backed by their corporate owned media echo chambers want to keep us distracted from this reality. The numbers don’t lie! Economic and political shenanigans are the order of the day. Anti-Immigration, Tariffs, blaming foreigners, anything to move our focus away from confronting a failed economic system that no longer is working for most of the people.
Trump’s new tax cuts are a perfect illustration of the explosive excess gone wild inside the beltway. Corporations have paid fewer taxes for over forty years. At the same time wages have remained stagnant. This behavior is a prime example why America’s economic system is deteriorating.
There is an irony to all this economic upheaval. Yes, capitalism played a major role in creating a large American middle class. However, people seemed to forget what brought this about was a major economic disaster known as ” The Great Depression.”
One of the foundational beliefs of the House of Public Discourse is that history does repeat itself in politics.
There is no denying the growth of wealth inequality is politically motivated and it has happened before. There was a time known as the “Robber Baron Era.” Many contribute the excesses of this time as the reason for the aforementioned “Great Depression.”
A Robber Baron based on historical factual behavior is a ruthlessly powerful U.S. capitalist or industrialist of the late 19th century considered to have become wealthy by exploiting natural resources, corrupting legislators, or other unethical means. Does this not sound familiar? [See Source] Measures put in place after 1929 Wall Street crash that helped its recovery are under attack!
In other words, you had victims of capitalism creating an insurrection directed at then-President Franklin D Roosevelt[FDR] giving him an ultimatum to change the way America’s economic system functioned. And you know what? He heard them.
The American people back then basically told FDR that either you fix this and corral these out of control Robber Barons or you will have a revolution on your hands
The country needs and, unless I mistake its temper, the country demands bold, persistent experimentation. It is common sense to take a method and try it: If it fails, admit it frankly and try another.
But above all, try something.
The millions who are in want will not stand by silently forever while the things to satisfy their needs are within easy reach.
We need enthusiasm, imagination and the ability to face facts, even unpleasant ones, bravely. Government needs to correct, by drastic means if necessary, the faults in our economic system from which we now suffer.
We need the courage of the young. Yours is not the task of making your way in the world, but the task of remaking the world which you will find before you. May every one of us be granted the courage, the faith, and the vision to give the best that is in us to that remaking!
From these demands sprang forth “Social Security,” “Workers Unemployment Compensation,” the minimum wage, and public employment. These social programs were direct push backs on at the time an out of control capitalist economic system. Social Insurance such as these helped bridge inequality. No matter the push backs many feel that FDR’s “New Deal” saved capitalism coupled with World War II.
America Has Been Here Before
The rich and corporations hated the “New Deal.” They did not want it or to pay for it. Just like the present day ” Robber Barons” do. Which was taxing corporations and the rich. Given these points, it was taxing corporations and the rich that created a vibrant equal America. Politicians and mainstream media pundits argue this a political impossibility today. Frist, it was a threat of revolution that spurred change. Second, Democratic Socialist FDR heard this public outcry. He[FDR] acted accordingly and was reelected three times. Which led to term limits for the office of the presidency should history repeat itself?
Equally important, the success of the New Deal and the growing middle-class had an underlying adversary; the rich and corporations. The reaction by the rich and corporations was one of outrage that they were funding this prosperity. This has led to an all-out aggression on unions, welfare programs, and the demonizing of socialism. First, they went after the Communist. Labeling them agents of a foreign power. Next, they asserted that Communism and Socialism were one and the same. Then they attacked the labor movement.
What Has The Response Been Since 2008 Crash?
What has changed, nothing! Who has gone to jail, nobody? No new regulations are in place. In fact, there has been legislation enacted or purposed to roll back and lessen controls on banking. Obama gave us nothing but broken promises of change. He changed nothing. Capitalism spinning out of control. Moreover, what we got was just the ” rich getting richer,” and the ” middle-class going broke.” President Obama had a chance of being the second coming of FDR. But, he failed and failed badly. Now, with President Agent Orange Trump in office, we have a clown in comparison to FDR. Bottomline, Obama, and Trump and the people who line their pockets are one and the same.
America’s economic system is in crisis mode. The election of Donald Trump or Hillary Clinton would not have made a difference. Both are Neoliberals. Both take money from the same paymasters. Let’s face it the oligarchs are winning. Our country is now the “United States of Oligarchy.” For this reason, America is in collapse. Furthermore, how long can this go without total anarchy from American citizens? Considering all this, is total anarchism the correct answer to the problem?
Chomsky sums up anarchism