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Title: It's the Inequality, Stupid
Source:
Mother Jones
URL Source: http://motherjones.com/politics/201 ... quality-in-america-chart-graph
Published: Feb 25, 2011
Author: Dave Gilson, Carolyn Perot
Post Date: 2011-02-25 15:19:30 by go65
Keywords: None
Views: 1878
Comments: 5
Eleven charts that explain everything that's wrong with America. 
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#2. To: go65 (#0)
There has always been inequality in the world. For a couple of decades after WWII, the inequality was between countries, with a tiny number of very rich countries and a whole bunch of very poor ones. The fall of communism plus the communications and computer revolutions torn down the walls between countries. The people Latin America, Southeast Asia, China, India, and Eastern Europe and climbing the economic ladder. They are competing with us to do so. The inequality between countries has shifted to inequalities within countries, because we can no longer pay unskilled laborers $80 an hour in salary and benefits to screw lug nuts into tires. It just doesn't work. There are things that we can do to ensure that America has a fighting chance in the global economy. America has among the worst public schools in the developed world. Last year we were 25th out of 34th in math and science. We were in the middle on English skills. People across the political spectrum understand that we need fundamental reform in education. Every proposal by both Democrats and Republicans to fix the schools is met by a bitter opposition from the NEA and other government employee's unions. America has the very highest corporate income tax rate in the world. We also give unproductive tax breaks to companies with political connections. America is one of only 5 countries that tax foreign corporate earnings when they are repatriated. So a lot of the foreign profits of America companies are never brought back to America to invest and create jobs. Today, American companies have $1 trillion of foreign earnings sitting overseas. It’s not coming back here. How does that help us. According to a 2008 OCED study, America has the most progressive personal income tax system in the world. Yes, even more progressive than Sweden. Again, our convoluted tax system provides special interest tax breaks so that many of the very wealthiest people don't pay very much. No, this doesn't include people who make a lousy $250,000 to $1 million a year, who pay too much in taxes. But it does include people making $50 million and year or more. America also has one of the most convoluted and punitive regulatory regimes in the world. If the author was actually worried about American moving forward, rather than being worried about punishing successful people, then he'd join those of us who want to fix the schools, simplify the tax code, and streamline the regulatory system so that established businesses and entrepreneurs around the world will find America a very attractive place in which to invest and create jobs. I suspect that he's more interested in punishing successful people.
#3. To: jwpegler (#2)
I think it's also because we refuse to set up a tax structure that encourages domestic job creation. I think we're in agreement on that one.
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Replies to Comment # 2. The inequality between countries has shifted to inequalities within countries, because we can no longer pay unskilled laborers $80 an hour in salary and benefits to screw lug nuts into tires. It just doesn't work.
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