E
epan
Guest
I was speaking of the historic record, not the current situation. Today, the corruption on all sides is appalling, and we are due for some serious reform similar to the changes around 1900 in spirit, at least. And, of course, LBJ’s stands out as an example of a corrupt administration, which was also a driver of social justice. None of this is “black and white”.Yes, we agree on Hoover. I disagree on the corruption though…I believe this perception is due to the incredible media bias which has allowed the Democratic party to be able to get away with ANYTHING. This has turned a once proud and honorable party into what it is today.
I disagree with this hurting the middle class. That 90% top tax rate simply pushed the wealthy into various tax shelters. The Laffer curve is real despite socialist propaganda. Furthermore, if you simply look at how the middle class lived in 1981, and how they lived in 1989, you will see a huge improvement in general American lifestyle.
I believe that new technologies concentrate wealth in new ways, and that increases in corruption and greed are the result, as a small group cashes in on the opportunity. Consider that the Walton family alone holds as much personal wealth as the bottom 40% of the US population. We have not seen this sort of imbalance for about 90 years. It is apparent that new laws, regulations, tax structures,… perhaps a radically new economic model is required, if we are to avoid social disaster and economic collapse. A society with no middle class cannot support this vast wealth at the top, in a consumer based model. I don’t see feudalism as a viable alternative.
Consider that the cheap factory workers in china and India will also be displaced, at first by cheaper labor in Africa, and eventually by robotic technology. We are approaching an economy which requires very little labor. Unemployment rates will continue to increase worldwide, unless we find an alternative.
This brings us to the question of what to do with an unemployed, and unemployable population, in which more than 90% of a country’s wealth is held by less than 5-10% of the population.
I am no economist, and I wish I could say that I have a solution in mind for this looming problem. My expertise is in a very different area. My sense of history and of current events leads me to think that our society and economy are changing as profoundly with the growth of the current technologies as they did as a result of the industrial revolution.
I pray for Pope Francis to lead the Church COURAGEOUSLY!