JD Vance: Tariffs are an Overdue Escape from Globalist Pathway

[Zoe]

Midterms are next year. Congress will probably shift to democrat control. Many state governors are in the mix also.

 

[Mike Ault]

I can't give you an executive summary, but I guess I would say these things all happened around that time:
-End of Bretton Woods/Nixon Shock and going off the gold standard
-Birth control and women in the workforce = 2-income households
-Beginning of globalization, automation, and offshoring labor
-OPEC and inflation

Probably some other stuff too

 

[alebrewer]

I can't give you an executive summary, but I guess I would say these things all happened around that time:
-End of Bretton Woods/Nixon Shock and going off the gold standard
-Birth control and women in the workforce = 2-income households
-Beginning of globalization, automation, and offshoring labor
-OPEC and inflation

Probably some other stuff too

I believe it was the early '80's when the tax rate for the highest earners started dropping precipitously, right? From 70% down to (currently) ~ 37%?

 

[CGinMN]

I believe it was the early '80's when the tax rate for the highest earners started dropping precipitously, right? From 70% down to (currently) ~ 37%?

I don't know, maybe. It sounds right. I don't know how much this contributed.

 

[glenn walker]

There can be no doubt that the wealth gap in the US continues to broaden.

1. Trends in income and wealth inequality

Barely 10 years past the end of the Great Recession in 2009, the U.S. economy is doing well on several fronts. The labor market is on a job-creating

www.pewresearch.org

The rich get richer throughout the world and most Nations are now not capitalist or communist or socialist but Oligarchys with a President or Prime Minister and they have phoney elections just like we do.

We are reverting back but to a high tech operation of Kings and Caesars who like us today also had Senators and others who claimed to represent the citizens while in reality the plan was always just to give enough to the plantation workers to survive and procreate new cheap labor.

This cycle won't need or want procreation because less labor is needed. The collapse of differences between the white and blue collar will mosty disappear as the Cubicle Dweller with a BA degree in liberal arts are now no more and often less valuable to the oligarchy than a common day laboror. The gig worker became a new definition of the under employed often college educated.

 

[ucbruin]

Zero.

What about between 2017-2021....
Any fraud of any kind under that Trump administration....

 

[glenn walker]

I can't give you an executive summary, but I guess I would say these things all happened around that time:
-End of Bretton Woods/Nixon Shock and going off the gold standard
-Birth control and women in the workforce = 2-income households
-Beginning of globalization, automation, and offshoring labor
-OPEC and inflation

Probably some other stuff too

The baby boomers F it all up...lol

 

[alebrewer]

I don't know, maybe. It sounds right. I don't know how much this contributed.

Hugely... Its actually a very interesting comparison. The tax rates for the highest earners in the early 1900's was 70%+, then dropped precipitously in the 20's, culminating in a trough during the depression. Then they went back up to the 70's in '32. Then in the '80's we started seeing them drop again - as the wealth gap increased exponentially once again. Not saying that there's a 1-1 relationship, but there's most definitely causation.

 

[alebrewer]

What about between 2017-2021....
Any fraud of any kind under that Trump administration....

Not that I can recall.

 

[CGinMN]

What does comparing wealth and tax rates between classes have to do with it, though? The measure of my well-being has nothing to do with Elon's ability to accumulate wealth and the government's ability to take it away.

I think it is mostly the debasement of currency. One thing it does is that it gives people high time preference. They want to buy everything now because it will cost more later. But if your dollar doesn't depreciate, you are more likely to save it. Debasement also means you have to invest so you don't lose your wealth. Imagine a world with stable prices and how that would change your retirement plans. It's almost unimaginable. Instead, we are all constantly swimming against the current.