Sunday, July 31, 2016

Social Security, Pensions and Fewer Workers to Pay Taxes.

The media and the politicians who are owned by the wealthy are all telling us that we can no longer afford social security, welfare, public colleges at low cost or any other public expenditures that benefit the middle class, the working class or the poor. Yet, at the same time we are told that everything is fine and that the nation is actually making more money than it used to. If we used to be able to afford these things when the country had less wealthy than why can't we still afford them?

Here is what is really going on. The truth is that we can afford these things; but, because automation is going to continually reduce the number of workers needed, taxes will have to fall more on the few who are wealthy. We all know that since 2008 all the gains that have been made economically have gone to the top half of the one percent. That income inequality will only increase as we have fewer and fewer jobs.

I have previously written that people need to understand this trend so that we can have a real discussion about these issues. If you are wondering why the wealthy donors who used to support the Republican presidential nominee are turning away from Trump for Clinton or the Libertarian party, it is because they believe that the Clintons and Libertarians will weaken these social programs. Remember, Bill Clinton made major reductions to welfare during his term in office.

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