Populist Reform of the Democratic Party
In reply to the discussion: Soak the Rich? Or Get Our Wealth Back? [View all]truedelphi
(32,324 posts)They either waste it or use it to do things we should not be doing.
Did you know for instance, despite so many politicians' claims that these are times that indicate a need for "austerity" -- the USA is opening up a branch of the FDA over in India, so that the USA can suppress the people of India and force the impoverished farmers there to buy Monsanto genetically modified seeds?
Personally I would not care whether or not we started to tax the 1 percent at a rate of 65% or more. It would be fine by me. [h2][font color=red] But until we start regulating the derivatives stock market, and regulating the banks, we will all continue down a path started under Bill Clinton and the Senate of 1999-2000, when we began policies that now have come into maturity.
What does the maturity of those policies look like? The amount of money that goes from every single dollar of profit generated inside the USA and that ends up inside Big Banks and Financial Firms is now 49 cents. Forty nine cents out of every single dollar of profit ends up in the pockets of the one percent. Only regulation will bring this back to a sane level, such as we had in the 1980's, when that amount was eight cents out of every dollar.[/h2][/font color=red]
What does this amount of profit for the Big Financial firms and their lack of regulation mean? It means that the only way most small and just starting out businesses can generate a loan is to go on TV's "Shark Tank." It is far easier to amass some $ 100,000 in loans by being a student and getting student loans (for which you will owe Navient, formerly Sallie Mae, and whatever other agencies that are out there the rest of your own profits for ten to forty years!) than to be a small time business person trying to get a legit loan.
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