Monday, January 6, 2014
Regressive hypocrisy on redistribution
Just like they rail against welfare but are by far its major recipients, they always rail against government redistribution policies, again exposing their rampant hypocrisy. Robert Reich reports on government tax policy that funnels the people's money into their coffers. How did the stock market earn record profits in 2013? By employers reducing costs, particularly the work force, by either firing people, moving jobs overseas, lowering wages and/or reducing/eliminating benefits. The proof? Corporate profits are at their highest share of GDP while wages are at their lowest. And all because the 'owners' have paid off the legislators to create laws to implement exactly the above, i.e., redistributing wealth from the workers to the owners reflecting the highest income inequality since the Great Depression. This is not trickle-down economics but gobble-up.