Deregulation and less taxes. Now, where have we heard that before? Oh yeah, it is the same storyline that brought us to our current fiscal reality. Where the American middle class disappeared, wages declined and our purchasing power was decimated. Since the days of President Ronald Reagan, every residing President in office has advanced the power and control of global corporate hegemony.
For over sixty years this nation saw growth under the Glass-Steagall Act. President Bill Clinton was responsible for gutting its key components. President George W. Bush came along and further pushed deregulation. The result was investment banks buying up commercial banks and the gaming of revenue globally, which led to the fiscal melt down under W. This deregulation allowed a few key players around the globe to monopolize media outlets, telecommunication, insurance, Big Pharm, etc. The result of deregulation has been the demise of Main Street in favor of a U.S. economy based upon stock investments instead of manufacturing. Causing the entrepreneurial spirit of civic responsibility and investing in people to have nearly died.
The really sad part is how today's public relations have conned the right wingers into supporting their crusade, a power and economic play of global proportions. It is sad that republicans forget Abraham Lincoln's warnings against monopoly interest, that Theodore Roosevelt lead the nation in passing Anti-Trust laws to curb the powers of the robber barons. They also forget that Dwight D. Eisenhower, under whose leadership we built the best highway system in the world and whose tax rates were substantially higher than today, issued warnings against the military-industrial-complex and their economic powers. They bought into an economic free market model, (Chicago School of Economics) that feeds the rich at the top by eating away the bottom. The haves, have mores, the elite structure and good luck to the rest model of economics.
Their underlying mantra is less tax for corporations. Why? The underlying premise, have more money to monopolize and concentrate power. I hope someday congress will grow up and come back to work for the America people. I think many wouldn't care if corporate taxes were brought in line with other nations of the world, provided all the offshore accountings, subsidies and tax loopholes were brought into line with the interest of our nation as a whole.
Mr. Romeny, Sir, how can you give tax breaks to corporations that made billions every quarter, paid no federal taxes and manage to obtain a return, along with billions extra in subsidies: because their poor profit margin isn't large enough for them to take the risk? Entrepreneurs, in the meantime who've taken risk, with the investment in their communities and the people they employee and live with, the ones disappearing from America. Don't step up, Ronald Reagan's societal mantra, it made people reach, ignore that. Come back home to America, hands, helping hands across the nation.
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