Loading ...Decades ago there was no shortage of tax revenue. The USA had a MASSIVE high wage middle class, that paid all the taxes. TPTB were dumb as a stump to under report cost of living inflation, and allow wages and buying power to melt. That in turn allowed tax receipts from, twice as many tax PAYERS, to melt.
The whole domestic economy was not allowed to adjust properly and naturally after 1970. So the Gov’ts own “wages” also melted and now we have a $22 trillion deficit. With twice as many workers after the woman’s lib movement started. Remember? Only one high wage high tax bread winner was needed, to support the gov’t and the household.
Then it turned into two bread winners needed and STILL not enough income buying power and tax receipts to support Gov’t and retail. This is real simple crap. I don’t understand why I’m the only one, talking like this and its not on TV.
If they didn’t lie about the CPI, and mandated constant gradual yearly adjustment higher with the standard wage, it would be at least $30-$40/hr and they would not have these problems of today. Unfortunately they are STUCK and can’t raise the standard wage abruptly to that level. If they did millions of jobs would disappear. Many businesses were “born” around, affordable wages.
A guy I knew used to have a sales and service business of Fire Trucks. Nassau Fire Apparatus it was called. They sold fire trucks to towns and villages. He told me, selling ONE fire truck gleaned enough profit to buy a house at that time. Before 1970 key date. As time went on, they needed to sell TEN fire trucks for the same one house profit.
Some day the bozos will figure this all out but it won’t do any good. They will have to fix the roof after it starts raining. So what I’m trying to say is, rather than tax the so called rich, they need to create and tax a huge middle class.
It would be survival of the fittest most profitable millions of small businesses that could afford to pay what needs to be paid. The low profit small business owners would have to shut down and just get a good job instead. They’d probably be better off too. No more responsibility.