tag:blogger.com,1999:blog-10032287.post5954490213968609550..comments2023-09-08T00:47:50.511-07:00Comments on Naked Reflections: Economic MusingsStevehttp://www.blogger.com/profile/02549770321948541384noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-10032287.post-54646202004252651162008-03-26T17:09:00.000-07:002008-03-26T17:09:00.000-07:00I think the argument during boom times [and not re...I think the argument during boom times [and not recessionary times] of lowering taxes for the rich is that they tend to invest, capitalize industries and, thus, create jobs. Low taxes for the rich means they are taking less of a risk in their job-creating activities, which means yet more jobs. Therefore, there is low unemployment and everyone is, generally, happy.<BR/><BR/>The above may be true, but globalization complicates things. From Republicans' perspective, we are now competing against the world. Other nations want jobs the rich can create. So, to keep jobs here, we need to keep taxes low such that they don't go overseas. Thus, it all becomes a global competition to pander to the rich for the jobs they can create anywhere.<BR/><BR/>The situation, from my perspective, is, foremost, that we must stop stealing from the future and tackle global warming; it is simply going to be necessary for us to hunker down and America must suffer a long spell of being less affluent.<BR/><BR/>But statistics tell us we are now living in another <A HREF="http://en.wikipedia.org/wiki/Guilded_age" REL="nofollow">Guilded Age</A> of extreme inequities. Something must happen to make life 'more fair,' and force the rich to live less obscenely. The Laissez-faire capitalism of our time is a great injustice. We have legislation that created minimum wages; we should also have maximum wages/salaries.Anonymoushttps://www.blogger.com/profile/13718601770472939313noreply@blogger.com