I agree with Greg B. and others who seem to be saying that more money isn't the answer.As many of you have read here, I regularly post statistics on taxes and taxation, mostly to counter wishful thinking with cold, hard facts. One theme is that there is large mismatch between federal spending and federal income tax revenues, a mismatch comparable to and often larger than these revenues. That means you won't solve the problem by raising taxes by 10 or 20% - taxes would have to double or more.
Bruce Ackerman and Anne Alstott http://www.latimes.com/news/opinion/commentary/la-oe-ackerman-wealth-tax-20110920,0,7752814.story" [Broken] that the solution to this dilemma is a wealth tax. They propose a 2% tax on households owning more than $7.2M in net assets, and claim it will generate $70B a year.
I think it's probable that the federal budget deficits and the national debt will continue to increase.
There are fewer jobs in manufacturing primarily because of increases in manufacturing efficiency. There are fewer jobs in general because the buying power of the population is steadily decreasing. I also expect this trend to continue.
Then there's the contribution of outsourcing and offshoring, which I expect to continue.
And the influx of hundreds of thousands of indigent unskilled immigrants each year, which will continue.
There are approximately 20 million unemployed people in the US who are capable of persisting in some sort of gainful employment but for whom there are no jobs. This will increase. Even vast government funded infrastructure projects will only affect a small percentage of the potential labor force.
No significant changes will be made wrt corporate welfare, medicare, medicaid, social security, welfare to the poor, or the defense budget.
You can talk all you want about what needs to be done. There might be some relatively straightforward fixes to various economic-related problems in the US. But the politicians aren't going to do any of those things because they don't have to.
There's no encompassing, compelling vision of what's best for America. There's no 'big picture'. There's no common goal. There's no plan that all Americans might cooperate on. There's lots of different, more or less competing, groups going in somewhat different directions.
Given current trends with few or no significant changes being introduced, then I would guess that most people's situations won't become dire for a rather long time, if ever. So the general political attitude is to be not overly concerned, and to maintain the status quo.
Just my current opinion.
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