Yes, The American Economy Is Rigged

bernie sanders
Bernie Sanders (Wikipedia)

go to site Presidential candidate Bernie Sanders’ claim that the economy is rigged, especially against the middle class, is one of the primary reasons for his success in the 2016 Democratic primary elections. Most Americans don’t know a lot about macroeconomics, but their gut instincts are telling them that something is very wrong, and Bernie is tapping into that. The voters see signs of the problem every day. American factories are shut down and moved to countries where companies are allowed to treat workers like virtual slaves. Education funding is cut, even though it keeps getting harder to land a good-paying job without modern skills. Wages are stagnant, even though the stock market is up about 500% and corporate CEO pay up over 900% since 1980, while at the same time worker productivity has dramatically increased. (The current Federal minimum wage of $7.25 per hour would have been $18.28 in 2013 if the minimum wage had kept pace with worker productivity.) Taxes are becoming a bigger problem for the lower and middle classes, because regressive sales and payroll taxes are being increased while the income taxes for corporations and the wealthy are getting reduced.

enter site Republican supply-side economic policies are the main culprit. The theory that cutting taxes for the wealthy and deregulating the economy will promote business investments and thus create wealth which will trickle down to the middle and lower classes has been repeatedly proven wrong. In fact, these policies, which were initiated during the Reagan administration, weren’t based on economic science, but a radical political ideology. There were dubbed “voodoo” economics by Reagan’s political opponents. They have shrunk the middle class, generated unemployment, increased income inequality and the national debt. Despite these catastrophic results, however, they are stilled promoted by most Republican politicians – including all of the 2016 Republican presidential candidates. But more and more Americans are finally wising up to their nonsense. In response to this growing voter awareness, the dark money conservative think-tanks have gone back to their drawing boards because they know the end is near for their supply-side economics con job. They are distributing new talking points to their obedient mouthpieces in the media that employ the time-tested propaganda technique of blaming the victims. Poor people in America shouldn’t complain, they say, because they have it a lot better than most of the poor people in the rest of the world. The only reason people can’t succeed, the say, is because they abuse alcohol or drugs. People who have babies out of wedlock, they imply, deserve to fail because they have poor morals. And the biggest reason people aren’t achieving their goals is because they lack personal initiative, and want something for nothing. In other words, people who believe the economy is rigged are just a godless, lazy complainers.

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