frflyer

Cramer's Stop Trading! It's the Principle of the Thing (1/8/09)

Redistributing wealth
- You mean like has been going on for the past 25 years with supply side economics and regressive taxes?
You mean like the $700 billion for financial institutions?
Yeah I'm dubious too. Dubious of anyone who is so ideologically stuck in their thinking that they have come to see anything that hints of sharing or cooperation, or that aids anyone other than the very wealthiest, as communism or socialism or whichever label is handy. Wages for workers have declined 12% in buying power since 1978, while executive pay went up about 800%.
89% of the growth in wealth from 1983 to 2004 went to the richest 20%. The rest of us, the 80% got 11%, the top 1% got 33% of the growth. In 2005, the richest 1% had an increase in wealth larger than the entire wealth of the lower 20%. Reaganomics doesn't work period. It's had 25 years to prove itself and has been an utter failure for 80% of Americans.
Is that "redistributing wealth"? Labels are just labels, they make it easier to not think things through when doing so may go against your cherished beliefs.

If Dwight Eisenhower were alive today, some would be calling him a socialist, because he spoke out in 1952 for the interests of working people. and they would be calling him unpatriotic for suggesting that we keep our eyes on the military industrial complex. Yeah that Eisenhower, the former Republican President and Allied Commander in Chief of Europe.
You are proobably one of those history revisionists who claim the New Deal didn't work. There would be no middle class without the New Deal, it's what made it possible. What stalled the recovery under Roosevelt during the late 30 s was when he became more fiscally conservative, instead of trusting the programs he had initiated. The other reason it took WW2 to get us out of the depression was because of the depth of it, not because Roosevelt's policies weren't working. It's not an accident that he was elected three times.