While in the short-term balancing the budget would require massive spending cuts that would result in increased job losses and a further decline in revenues (and then more cuts), ideally the government should easily be able to balance its budget (and preserve the social safety net) by increasing revenues by taxing the super-rich and closing corporate tax loopholes, as well as ending costly military adventurism overseas and cutting the defense budget … There are two standards in America. One for the rich and corporations, and one for the rest of society.
In the western world at the dawn of the 21st century, the forces of oligarchy, plutocracy, and aristocracy continue to plague and rule the lives of billions behind the cracking veneer of false democracy. Perhaps it is time for us, the people, to stop blindly hopping around like a mob of kangaroos and reclaim our authentic democracy from those who have stolen and distorted it. This blog is a small contribution to the global battle to democratize the processes of generating, disseminating, and controlling information.
This animation shows all important battles that took place over the last ten centuries. The sizes of the explosions and labels are proportional to the number of casualties.
George Mason Economist Tyler Cowen has an interesting name also, The Great Stagnation. Cowen asserts that “America is in disarray” and that we face a “long-run fiscal crisis.” He and countless other economists and observers from Marxian Rick Wolff to mainstream news outlets like CNN and the Financial Times point the finger for this malaise at one thing, median wage stagnation for the majority of Americans and massive income increases for the rich. In other words, for most Americans (90%) the past 30 years have seen almost no actual increase in wages, while the rich have seen a substantial rise; all leading to messy economic problems and a bleak outlook for recovery.