Middle class revolt
- Thread starter dddooo
- Start date
I agree. It all started from the world-wide collapse of communism and the development of globalization (i.e. world-wide spread of capitalism.) This has benefited upper class both in US and China enormously (to less extent, middle class in China) at the expense of US middle class and lower class in China.
Pope John Paul II helped to bring down the communism in 70âs and 80âs but in his last book he expressed his concern on globalization and said that (not exactly his own words) although the communism was evil but it did some good thing to the world. He was right. We are no longer under the threat of USSRâs nuclear weapons but our wage and salary are under the pressure from China and India.
With the coming crash of housing market, many middle class families will go bankruptcy.
We really seem to face a dilemma. Accept the wage arbitrage game that is off-shoring th emiddle class jobs that supported our country, or adopt protectionism and the inefficiency it fosters. The protectionist argument is seductive, as the gains are immediate and the costs appear down the road in the form of uncompetitive industries, high costs and reduced choice. Frankly, I'm amazed the country has accepted free trade to the extent it has. Probably we have not used our clout as the biggest market to the extent we should have. Instead we have accepted multilateral regimes like the WTO, that always seem to accept euro protectionism but not our own.
Add to this the tidal wave of illegal immigration, with the disruption and resentment it is bringing, and I see a country that is on the verge of becoming ripe for a populist or nationalist demagogue to take power. Of course, our supposed allies think that has already happened.
Add to this the tidal wave of illegal immigration, with the disruption and resentment it is bringing, and I see a country that is on the verge of becoming ripe for a populist or nationalist demagogue to take power. Of course, our supposed allies think that has already happened.
well, i live here, but nowhere near freaking Portland, can guarantee that! 
so as long as the asian engr. is cheaper, then the absolutely -horrific- tax-burden is fine, eh?
and apparently it hasn't occurred to you that income-tax isn't the only tax on people, or society.
everything that 'poor' mcdonald's worker eats passed through buildings with outrageous property-taxes.
every person touching every component of that food, all down the line, paid taxes for -outrageous- pensions and bennies for those 'hardworking' bureaucrats.
every vehicle in the state is paying ridiculously high 'fees' (another word for TAX, by the way) for registration etc..
times a THOUSAND more burdens.
and yeah, as a matter of fact, it DOES add up.
now, add fanatic ideology into the mix....the new religion of those who claim they're agnostic.
yup, the ones who -literally- destroyed oregon's primary industry overnight.
one court judgement and BOOM, it was over.
hundreds of thousands of high-paying jobs GONE....NEVER to return.
"oh, but tourism will make up for all that".
yeah, all that tourism that's going to happen on $5/gal gas....riiiight....
now, add on top of that, not just gov taxes, and gov waste, and gov bennies FAR in excess of the avg. citizen; but also gov INCOMPETENCE....
yeah, no surprise this society is crashing and burning.
and ya know what's the most amazing thing of all ?
the sheeple CONTINUE to scream for MORE OF THE SAME!
UFB.....but true!
they want MORE of the same "fixes" they've piled on top of themselves for 30-40 years now.
Totally irrational belief in a benign gov; and literally -insane- belief that piling even -more- out of control government on their own backs will magically 'fix' things.
but hey, it's for the kiddies, doncha know...
good luck sheeple....you are going to SO need it....real soon now, too....
so as long as the asian engr. is cheaper, then the absolutely -horrific- tax-burden is fine, eh?
and apparently it hasn't occurred to you that income-tax isn't the only tax on people, or society.
everything that 'poor' mcdonald's worker eats passed through buildings with outrageous property-taxes.
every person touching every component of that food, all down the line, paid taxes for -outrageous- pensions and bennies for those 'hardworking' bureaucrats.
every vehicle in the state is paying ridiculously high 'fees' (another word for TAX, by the way) for registration etc..
times a THOUSAND more burdens.
and yeah, as a matter of fact, it DOES add up.
now, add fanatic ideology into the mix....the new religion of those who claim they're agnostic.
yup, the ones who -literally- destroyed oregon's primary industry overnight.
one court judgement and BOOM, it was over.
hundreds of thousands of high-paying jobs GONE....NEVER to return.
"oh, but tourism will make up for all that".
yeah, all that tourism that's going to happen on $5/gal gas....riiiight....now, add on top of that, not just gov taxes, and gov waste, and gov bennies FAR in excess of the avg. citizen; but also gov INCOMPETENCE....
yeah, no surprise this society is crashing and burning.
and ya know what's the most amazing thing of all ?
the sheeple CONTINUE to scream for MORE OF THE SAME!
UFB.....but true!
they want MORE of the same "fixes" they've piled on top of themselves for 30-40 years now.
Totally irrational belief in a benign gov; and literally -insane- belief that piling even -more- out of control government on their own backs will magically 'fix' things.
but hey, it's for the kiddies, doncha know...
good luck sheeple....you are going to SO need it....real soon now, too....
The article gives hope that the middle class is beginning to connect the dots: globalization cannot explain stagnant wages and rising profits.
Wage earners are told salaries must be kept low in order for U.S. companies to compete in the marketplace. This is the conventional wisdom on globalization and free trade -- but facts prove otherwise. For the last three years, corporate profits have soared while wages are flat to down. Logically, if free trade was the cause of low wages, then profits would be flat to down as well, as companies struggle to maintain thin profit margins against leaner foreign competitors. U.S. companies are making record profits because they have become smarter in how they compete. So, the middle class has to wonder: if profits are soaring, where's my piece of the action? Where's my raise, my bonus? And why are you cutting my health and pension while profits continue to rise?
There is also growing discontent in Bushonomics -- the failure of supply-side trickle-down tax cuts to deliver on its promise. The middle class doesn't care if the rich get disproportionate tax cuts as long as the rich invest the windfall in ventures that spur job growth and wages. That hasn't happened. The tax cuts have been 'sticky' -- untaxed income at the upper brackets is staying put and is not trickling down.
The middle class is finally realizing that stagnant wages and limited job opportunities have less to do with global free trade and more to do with the Bush administration, which has tilted the playing field in the favor of the elite to such an extent that it hurts the middle class. It's even gotten to the point of hurting shareholders -- as the middle class can no longer spend like they used to, the retail sector is feeling the pain as well.
The old union phrase, "America Needs A Raise," is particularly apt right now.
Wage earners are told salaries must be kept low in order for U.S. companies to compete in the marketplace. This is the conventional wisdom on globalization and free trade -- but facts prove otherwise. For the last three years, corporate profits have soared while wages are flat to down. Logically, if free trade was the cause of low wages, then profits would be flat to down as well, as companies struggle to maintain thin profit margins against leaner foreign competitors. U.S. companies are making record profits because they have become smarter in how they compete. So, the middle class has to wonder: if profits are soaring, where's my piece of the action? Where's my raise, my bonus? And why are you cutting my health and pension while profits continue to rise?
There is also growing discontent in Bushonomics -- the failure of supply-side trickle-down tax cuts to deliver on its promise. The middle class doesn't care if the rich get disproportionate tax cuts as long as the rich invest the windfall in ventures that spur job growth and wages. That hasn't happened. The tax cuts have been 'sticky' -- untaxed income at the upper brackets is staying put and is not trickling down.
The middle class is finally realizing that stagnant wages and limited job opportunities have less to do with global free trade and more to do with the Bush administration, which has tilted the playing field in the favor of the elite to such an extent that it hurts the middle class. It's even gotten to the point of hurting shareholders -- as the middle class can no longer spend like they used to, the retail sector is feeling the pain as well.
The old union phrase, "America Needs A Raise," is particularly apt right now.
Along with record Gov debt, consumer debt & corporate debt. Reaganomics started it all, but note the M3 money supply explosion.
The Fed's tactic of lowering interest rates and easing money supply did not do the trick this time. In the past it stimulated capital expenditure, wage growth & job creation. This time it only created asset inflation, i.e. real estate bubble. No jobs & high inflation is a catastrophe waiting to happen.
yes, pack their hammer and nails in the prius and drive to N.O.'s for their government contract re-building job --- should be a good gig for a year or two.
When I was in college I worked - briefly - for a collection agency on their IS systems. The number one (and overwhelming) reason people were in BK was due to major medical / healthcare costs. Most of the people wanted to pay this back but realized they never would be able to - with interest accumulating.
Yes, there are credit card thieves and deadbeats- always have been - but if the new BK laws dont solve the real reason people declare BK then they are gloing to create a huge problem.....