Ever since the laissez-faire capitalist all but completely took over our economy, we’ve been told that we have absolutely no right to regulate business. If the Enrons of the world want to keep their houses of cards propped-up by breaking the back of Californians, we’re supposed to be perfectly fine with that – after all, it’s a free country and they should be allowed to do whatever they want. Likewise, if Walmart wants to employ practices that force their suppliers to move their factories overseas in order to stay in business, who are we to complain? After all, what’s the lifeblood of American towns and cites compared to the Walton’s or the Koch clan’s right to do whatever they like?
This video contains some facts for you to add to your arsenal the next time you need to convince someone who thinks we’re in great financial shape. Warning: don’t watch this if you’re having a bad day or are depressed.
To hear the conservatives tell it, our economy will nosedive if the rich are required to pay an iota in taxes more than they do now. Indeed, we are led to understand the rich already pay more than their fair share, that their taxes need to be lowered so the middle class and the poor can shoulder more of the burden.
It’s understandable why folks under 30 might believe this argument. If the tax rate on the rich, defined by the Obama administration as those earning more than $250,000, is rolled back to nearly 40%, the rich just might not have the money to invest in businesses and create the jobs our country so badly needs. Never mind the fact that the rich aren’t investing in businesses and creating jobs anyway, even though the tax rate for high rollers is historically low.