Do you think it will take bloodshed? The middle class has protected the upper class from the lower class, now the middle class is about to fall further down the whole.
Do you see this and how far away do you think it is?
Also how far away is a crash in the American economy?
2006-12-12 14:40:35 · 13 answers · asked by Anonymous in Politics & Government ➔ Politics
gees you guys are mean....just answer the question......i am curious,,,,,
2006-12-12 14:48:11 · update #1
Lets start with the economy. My favorite analogy of the US economy is the Coyote in the Roadrunner cartoons who's run off the cliff but just doesn't realize it yet.
To show exactly how bad the economy is, on FOURTH of our jobs are in the housing market. ONE FOURTH! That is not a sustainable economic model. The money to build and buy those houses has to come from somewhere. Are we going to grow money in the near future?
Taxes, child support, inflation and over priced rent/mortgage values have made it nearly impossible for single income families to survive. Professionals today, people like EMTs, military personal, technicians, and other skilled trades live BELOW the poverty level. A good job doesn't equate to a decent standard of living any more. If a spouse doesn't also have a decent job in many areas it is very difficult to get by on just one income. We are not talking about people who are working fringe jobs or part time. Full time skilled professionals are being eaten alive economically.
Debt is a big part of this. Many start in debt from trade school or college. Credit cards are easy to get and help make ends meet. For most it is not irresponsible spending that gets them in trouble. It's buying groceries, necessary work related items, gas to get to work. Essentials just to get by. The problem is that if you cannot afford to buy those with cash how are you supposed to not only pay back those purchases but pay them back with interest? You can't. That's the whole point. So credit cards soon become giant leaches on the budget. Even if you pay on time you get hit with late fees with some credit cards. Over limit fees and an assortment of other fees. Hook you with a big balance than slam you with a really high interest rate. The debt just mounts. The latest bankruptcy laws means you cannot even get out of it. Not that dumping one load of debt doesn't mean you are not forced to assume the same load again. Most Americans live check to check. They might have enough left over to go out and do something nice every once in a while. Then the car breaks down or the plumbing backs up or a medical emergency wrecks the budget. So out come the cards. Once in debt it's very hard to get out.
Debt spending is what is fueling much of the purchases made today. Also the assumption that the job they have will be around long term fuels purchases of homes that become too expensive if they have to take a major salary cut or one spouse or the other leaves or is unable to work for any length of time. That is why record levels of bankruptcies and forclosures are happening. All it takes is one small bump and the fragile financial juggling act comes crashing down.
What happens is that a critical mass is reached. When enough people default it starts cutting into profits. To keep profits high those not in default have to be squeezed a little tighter. This causes more to default causing the credit agencies to squeeze even tighter. Once the critical mass is reached where those still able to pay do not constitute a profitable business then the entire debt spending structure is at risk. Were Americans to cease using debt spending for just a single month it would crush our retailers. One month of people buying only that which they could afford. It would cause massive lay offs, store closings and economic disaster.
Most of the big credit cards are issued or backed by major banks. If the credit industry fails then too do many banks. The last run on the banks happened many years ago. Picture this. You go to your ATM and yes you have money but the bank doesn't have YOUR money. It doesn't have the actual cash to give you the money you deposited into it. The cash was used to make loans and to secure credit debt. If the credit debt crashed, so too would many banks which have found credit cards to be a primary source of income. If enough loans are defaulted on, then the bank no longer has the money to make good on every dollar deposited. There is a Federal reserve that is meant to act as a guard against such events. I suspect it would be overwhelmed instantly were such a catastrophe to happen today.
The simple fact is that we have driven our business overseas. Greed, taxation, sometimes insane regulations are the primary factors. The globalization concept and the loss of nationalism are big factors. If a CEO feels no special loyalty to region or nation then why should they make a few cents less by staying in America? OSHA was set up in a noble intent and it's purpose is a good one. The way it is inflicted however is a form of taxation. I've watched OSHA inspectors walk right past real danger to fine people for cosmetic violations. Companies intentionally leave OSHA violations so that they get fined for the little stuff instead of an OSHA inspector having to fabricate a potentially expensive problem. Some companies cover up very dangerous situations to avoid OSHA fines and figure running the risk of a lawsuit is cheaper. How anybody can play with human lives like that, I don't comprehend it. However the amoral greed up at the top of corporations is legendary. Scruples and American business is almost incompatable today.
So we have no industry. A nation with no industry is either a third world nation or one on it's way to being one. We cannot continue to spend money we do not have. Not talking about the budget, I'm talking about our entire economy. The monopolies have to be rooted out. Corporations have to be held accountable for economic damage and incentives need to exist for things to be made in America or we face an economic collapse that will make the great depression seem mild.
Now lets consider the super rich vrs the poor as you put it.
I disagree with your assumption there is a middle class in America any more. To live a middle class lifestyle you have to make almost twice the medium income. By most definitions the rich are the upper %25 of the income brackets. Middle class expenses in most areas mean you have to make a combined income of at least $50k, in some parts of the country it is more like $70k. That would make you rich technically. It also puts you in "wealthy" tax brackets. As early as $50k I believe it is some tax exemptions start to melt away. $100k many more. Yet $100k is firmly middle class in some parts of the country. What is about %5 of the nation makes $100k or more?
Doesn't matter, the tax codes are not amended or adjusted for inflation. Each rise in wages increases the tax burden. That is one reason why some political groups want a min wage increase. Increase the min wage and it produces more tax revenue. People make more money, pay more taxes but take home less and that which they take home buys less.
A second assumption that is really incorrect about America is that the poor truly hate the rich. Part of the American dream, something that sets us aside from the rest of the world is that America is supposed to be a land where anyone with a great idea, the determination or just plain luck can become wealthy. In practice monopolies, unfair lending practices, elitism among wealthy cliques and other issues have slowly strangled the American dream. Still the concept lingers on, even if it is becoming more and more an illusion.
Much of America's wealth is not American any more. Transplants from other nations have brought large sums of money here to make even larger sums of money. Much of the "old" American wealth is either gone or has moved abroad. Big corporations are where the real wealth is and that is purely an illusion that is a contrivance which serves the corporations best interests today. Tomorrow they might move without notice leaving millions without jobs. Former HP CEO said it the best when she said that India and China were the economic future. Most American companies have that same view and do not plan to stay in the US long term. If it becomes economically better to leave the US they will and not even a kiss goodbye. With them leaves the bulk of America's wealth which is tied up in these mega corporations.
So rising up against the "rich" serves no purpose. You could kill every American on the Forbes top 100 and take everything they owned and it would not mean much. Would not dent the economy, nor would it be any kind of equalization. The bulk of America's wealth is already outside it's borders and every day more of it flees our nation. It lives in overseas bank accounts and investments. American wealth is mostly fictional. It is a measurement of debt and artificial values on items like stocks. Which can crash leaving the owner virtually broke. If the stock market utterly collapsed many of America's "wealthiest" would be broken instantly. No longer wealthy and deep in debt.
How many major companies are privately owned today? Not many. Very very few are actually owned by anybody. They are owned by stockholders. The value of the company except for physical assets fixed by stock market values. These are values the fluctuate greatly. The recent stock market drop which left many retirement plans and day traders wiped out was a tiny bump compared to a crash.
Second international interests own huge portions or the entire company when it comes to most big American corporations. So it's not American rich people getting richer. It's people all over the world siphoning out the wealth of the US.
I do see violence and war coming to the US and soon. It won't be rich against poor. The half a percent of truly wealthy in the US would just leave. They might lose a house, a collection of antiques or something like that but the bulk of their money is overseas already. The big corps would hardly miss a beat. Alternate company HQs already exist for many. In hours they could be back up like nothing ever happened. What would be left? Not much. Then what? We first lost the manufacturing. Then we lost IT to outsourcing. Now we've outsource R&D. We export raw materials agricultural products and rich people. Not much else. Until we begin to make stuff here, produce stuff here and invent stuff here again no economic system will work.
As for the blame. That goes around all over the place. The government is supposed to prevent monopolies and unfair trade practices. Both political parties are more bought than a cheap hooker. Our colleges teach anti-nationalism as a fundemental tenant and the economics is one of bleed it dry to make the stock holders happy for a day while killing the company long term. People go to college and lead companies who've never done the work on the floor. People with no loyalty to region, nation or company run our industry. The whole concept of employer and employee being enemies is a huge problem. Monopolies and the insider system going on are a huge part of the problem.
Of that much of that isn't even the fault of the rich. Change the names the problems remain. The problems have to be addressed. The welfare and health of America has to be foremost in the minds of our politicians and business leaders or we are doomed.
The war though will start with polarization between the extreme left and right. The spark will be something like an illegal immigrant protest or a riot. The fracture lines in the US are deep and the divides between Americans huge and fast growing. The anti-smokers hate the smokers. The Vegans hate anybody who eats meat. In fact the Vegan movement is a great illustration. I've heard several cheer on mad cow disease. To put that in context, they hate meat eaters so much that they celibrate a slow death for other human beings. Racial divides are the worst since the 70s and growing deeper. Blacks and Hispanics are convinced that police brutality is a racial issue despite large number of cops being Black or Hispanic and often being involved in the "brutality" cases. Police brutality is a serious issue and it has more to do with police training and the police state that many are attempting to institute. It is rarely racial. It is against the poor. Poor Whites and Asians and Indians and Natives and everybody else experiences it. Jessie Jackson and Al Sharpton don't make money exposing police brutality against anybody who isn't Black. However they make a bundle off of any publicity they can garner on incidents involving Blacks. This further alienates people, creates racial tension, discord and distrust. Those are the seeds of racism. 30 years of hard work and sacrifice by so many people of all races and creeds are being undone by politicians out to make a buck and get publicity.
We have political divisions. The Left and the Right hate each other with a passion. Enough that violence is lurking very near the surface. Islamic terrorism has created religious divides in the US. Many Americans do not trust any Muslim. The lack of outrage from the American Islamic community and the complete failure for the American Muslim community to oppose militant Islamics leaves most American's feeling that American Muslims support terrorism.
We are divided by region, by class, by race, by economics, by music tastes by smoking/non-smoking, by eating preferences, by so many factors. Each of those a potential spark to divide brother against brother and spark warfare. The abortion issue alone has already claimed several lives. So too has environmentalist issues. Even smoking, fights between smokers and non-smokers have claimed at least one life, probably several others. Every time we allow the politicians to turn Americans against Americans we open up the door to civil war. We trot out the potential for goblins like genocide to visit us. The example I used of Vegans being glad about Mad Cow disease shows the extent of the indoctrination. It is this dehumanizing of the "enemy" which creates the ability to hate and to kill. Once through the door, it is hard to prevent mass murder. We are Americans. We never do anything on a small scale. We have to be the grandest, biggest most spectactuler. I hate to think of what American style genocide will be like. Not that extremists are not already accusing America of that. Which goes to show you just how far gone so many people are. How far into the hate they live and how far reason has fled, leaving only a breeding ground for contempt.
2006-12-12 16:06:22 · answer #1 · answered by draciron 7 · 1⤊ 0⤋
The reason why the French Revolution happened is because the Aristocracy kept the peasant class from getting ahead. Like many Monarchies of the day, there were structures that kept one from rising above their class and attaining prosperity. And like a critical motivation of the American Revolution, there was taxation without representation. That's not the case in the US. Anyone can attain their idea of the American Dream. Progressive Liberals dangle class warfare ideas to the most vulnerable of their constituents to imply a notion of, "If you vote for me, I'll give you that rich guy's money and your lifestyle will be raised up." That never happens. The reason why the Republicans blocked the bill is because they are putting their money where their mouth is. Before any extension is done, there has to be some corresponding cuts elsewhere. The Republicans aren't CUTTING any taxes for "billionaires". The high-end Bush tax cuts have been in place (along with the other cuts) for 7+ years. Since then, they have become part of the economic landscape. None extending them now is the same as creating a huge tax increase. How does raising taxes help the economy, especially one with no job creation? Republicans understand this, as well as a number of Democrats, so many in fact that Pelosi adjourned the House as to avoid a vote on the tax extensions because there were enough votes by Democrats to extend all the cuts. The high-end Bush tax cuts don't just effect billionaires. They effect anyone earning $250,000 or more. Most importantly, this effects includes most small and large business and their owners. The more money they save of THEIR money, they reinvest into theirs and others business. Investment is key in expansion and expansion creates real, sustainable jobs, not government jobs that the taxpayers have to pay for. Your mistaken idea that billionaires are getting some sort of a tax cut points out the accuracy of what the pundits you listen too are spoon-feeding you. They might just be parroting what they hear or worse, more interested in the attitude this idea generates than providing you with the truth. If you want a revolution, make sure it's for the right reasons. There are some (like George Soros and Van Jones) that want it for the wrong reasons. Make sure you aren't a tool of that.
2016-05-23 16:44:36 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Are you a communist??? I think you must be. Or at least you hate America...either way...you're not too bright.
You're not curious!!! You have a preconceived notion of the world, and you are looking for some other idiot to agree with you. We might not all be rich, but the fact is, there is nothing wrong with becoming wealthy. If you had the brains to become wealthy, you'd be all over it. However, you are content with being in the financial state you are in, just so you can have something to complain about. You will point the finger at people who succeed so you can justify your own failures in life.
2006-12-12 14:43:42 · answer #3 · answered by FRANKFUSS 6 · 4⤊ 0⤋
No, because the majority of super wealthy worked like slaves for millions of dollars. The most successful business opened up their own business. Realize would not be able to this 20 years ago because computers cost a lot more money, and Internet is expense. Wanna help the low income do charity work on their behalf their plenty of non-profits helping the needy out. Your question is poorly thought out good bye. Class warfare gets nothing done instead of comparing people pay, why dont you look at if the people have basic healthcare, food, shelter. Instead, of comparing a CEOs salary of that of a Janitor. Both are likely to own cars, computer, house, HDTV its bad question.
2006-12-12 14:50:10 · answer #4 · answered by ram456456 5 · 2⤊ 2⤋
I see the upper class as providing jobs and opportunities for the middle and lower class.
A rising tide floats all boats!
2006-12-12 14:50:49 · answer #5 · answered by WJ 7 · 3⤊ 1⤋
no, because unlike Russia, France, and all the countries that had monarchys and class systems, America is an equal oppurtunity employer. you work hard, you can move up and make money. you whine about things, like how McDonalds is making you fat, you sue and you still make money. you sit on your lazy fat butt and do absolutly nothing, you get Medicaid and welfare and section 8 and food stamps and you still get money and things you need. (not that i'm knocking these things. i think they are great, i just can't stand those who take advantage) you came into America Illegally, the ACLU will make sure you get money and everything you need. so don't worry about it. Revolutions cost too much.
2006-12-12 14:49:49 · answer #6 · answered by Anonymous · 2⤊ 1⤋
Oh, this is just great. I suppose you also think the Patriot Act and the MCA took away your right to habeas corpus (never mind if you don't understand).
This kind of mentality will get you so far in life. NOT.
EDIT: For the developmentally delayed, the question was answered. Get a job. Pay some taxes. Get a piece of the rock. Grow up.
2006-12-12 14:45:41 · answer #7 · answered by ? 7 · 2⤊ 3⤋
The gap between rich and poor is at historic levels and that is the best sociologic gauge we have for revolution. But, the decption is so deep and has been going on so long I have no idea how long it will take for the people of the world realize they are held captive to the top 1/2%.
No one is as hopelessly enslaved as he who falsly believes he is free.
2006-12-12 14:47:31 · answer #8 · answered by Jared H 3 · 2⤊ 4⤋
There we go!
Punish people for hard work and reward the lazy!!!!!!!!
The only victims in this country are those who allow themselves to be.
If you want to be successful, you have to work for it...it's called personal responsibility.
2006-12-12 14:46:07 · answer #9 · answered by El Bubba 3 · 2⤊ 1⤋
N Korea is looking for a few good commies, maybe you should move there
2006-12-12 14:50:57 · answer #10 · answered by goodtimesgladly 5 · 3⤊ 1⤋
this is america, we dont punish people for succeeding, why do libs want to reward people for not working?
get lost mao
2006-12-12 14:43:19 · answer #11 · answered by Anonymous · 3⤊ 3⤋