@moonbus said
During the Reagan years, this was known as the 'trickle-down theory': if the rich are allowed to pursue profits unhindered by govt regulation and encouraged by tax cuts, then the rich will get richer and some of it will eventually 'trickle down' to the poor and the middle class. The only thing about trickle-down economics which is valid is the trick of getting the middle clas ...[text shortened]... the losers not only lost their life savings, they had to pay Bush's tax to cover the bank failures.
I actually have no problems with the rich pursuing wealth unhindered as long as they:
1) Don't harm, impose on, or place others at risk without consent, and,
2) Support the government that protects all our rights equally, proportionate to their wealth.
It's exactly the same standard I hold the Middle and Poorer Classes to.
A few more principles:
1) Taxes have to match spending. No exceptions. If you want a tax cut, reduce spending FIRST. (Trump's and Bush's tax cuts were WRONG - plain and simple because spending was not cut!)
2) The justice system has to be FAST! Alleged crime? Fine. Decide within 30 days - guilty or innocent. No delays. Guilty means pay the fine or do the time. After that you can appeal. If we have more than a 5%* successful appeal rate, that's a problem. Start firing judges and hiring new ones.
3) The public space has to be protected. Pollution is too easy. It needs to be hard.
4) Voting is to hard. It needs to be easy.
5) As for laws and regulations, they should be simple and clear. Businesses should know that if they screw over their customers or depositors, neither they nor the shareholders will walk away with a payday. Executives and fund managers should know that they will do time in jail and lose all their gains if they tolerate fraud on their watch.
6) Bailouts with public funds are wrong and violate the 14th amendment of equal protection. Tax breaks are also wrong and violate the 14th amendment.
The rich are just taking advantage because We The People aren't paying attention.
We have to start paying attention.
*1% is a tad ambitious. Let's say 5.