Originally posted by: 5LiterMustang
How is the American middle class being looted? Facts? Figures? ANYTHING at all to backup your ludicrous claims?
I'm not a scholar, so I can't really point you to hard facts other than to say "read the newspapers, read between the lines, and pay attention". Also, try to find out what kinds of "new jobs" are being created in the monthy job statistics. As I understand it, few of the jobs are in import-export related fields and few of them are high-value-added college-education-requiring jobs.
Fact - free trade does not diminish capitalism
Fact - manufacturing goods in multiple countries including socialist countries does NOT decrease capitalism
Much of that depends on what you mean when you say "capitalism". I'll actually agree with you--you can still have a relatively capitalist economy (real capitalism would be pure laissez-faire, btw, which we definitely do not have).
Where I disagree with you is your implicit assumption that capitalism necessarily means that most individuals' rational economic selfish interests are protected and that it is necessarily good for moral, hard-working people.
I agree that mass immigration, foreign outsourcing, H-1B and L-1 visas, and the trade deficit can co-exist with capitalism--and also that as a result of that kind of global labor arbitrage the result is that market forces will destroy the nation's middle class. (Remember economics 101? What happens when the supply of labor increases relative to the demand? The price point--wages--must decrease.)
Fact - unemployment is at 5% and the middle class is making up the vast majority of jobs currently being hired for.
That depends on how you define "unemployment". Does it also take into account severe underemployment? Does it account for people who reitred early but who wanted to work and couldn't find decent jobs? Does it account for people who dropped out of the job market from frustration?
If you want to be a dogmatist and defend your position that the current state of affairs is good, then you'd just say that unemployment is whatever the government defines it to be. But if you question those numbers you'll find that the real rate of unemployment and significant underemployment is much, much higher.
Have you actually tried looking for a job since 2000? If the economy is so wonderful, how do you account for the testimony of millions of people who live responsibly and who have good work ethics and even college educations who claim to be unemployed or severely underemployed?
Fact - Median hrly wage just over 16/hr
Fact - Median Salary position just over 38k
Fact - Median household income 44k[/quote]
Mean or median? Mean is the average. Median is where the person exactly in the middle is (50% are above, 50% are below).
If those numbers, of which I am skeptical, are accurate, I expect that they'll decrease in the near future. Why pay Americans to do things when foreigners will gladly do the same work for far less?
Fact - The top 1% have 18% of the countries wealth
Fact - the top 1% had more than 30% of the countries wealth 30 years ago
404 looting not found
Keep your eyes open. The "looting" occurs when shareholders or at least CEOs and the wealthy shareholdes end up earning higher profits and higher percentages of the wealth created in the act of production as profit while middle class Americans find themselves laid off with their jobs going to foreigners. In the meantime, while labor costs have decreased, goods sell at nearly the same prices and profits rise. The middle class then pays those prices as it sees smaller and smaller incomes, taking on mortages and going into debt. It's a wealth transfer from the middle class to the wealthy--and why wouldn't it be? The logical result of a huge influx of relatively impoverished labor into the labor market is a decrease in wages.
I'm with you buddy--I know where you're coming from. I used to be a vocal advocate of laissez-faire capitalism and absolute individual rights. But then I graduated and experienced the reality of the employment market first hand, acquiring new data, and changed much of my political philsophy as a result. I tend to think that capitalism, locally, is a good thing but that it doesn't work well for international trade and some goods that are not really market items such as health care. (If you need an operation to save your life, you need it at any cost; you can't just walk away or find an alternative, thus it isn't really a market item.)
Of course, you know how evil and destructive socialism and communism are and you hate the idea of wealth being stolen from some people (who actually earned it) and given to lazy people who scream that they need it (the poor who didn't take care of themselves and had more babies than they could afford). And thus you tend to support capitalism dogmatically and emotionally.
I hear you buddy. I share much of that sentiment. "I swear by my life and love of it that I will never live for the sake of another man, nor ask another man to live for mine." (That's a quote from...believe it or not...one of my two favorite novels, the other one being about an individualist architect.) But do try to keep from accepting capitalism as a religious dogma. Don't be afraid to ask tough questions, such as whether merging a capitalist nation's economy with a socialist nation's economy is detrimental to the well being of the capitalist nation. (Heck, there are advocates of laissez-faire out there who would call for a complete boycott of China since China doesn't protect individual rights.)
Another large issue is the issue of whether or not economic well being is based entirely on a nation's economic system. After all, it's possible to have capitalism but to also have the populace act in a self destructive manner, damaging the economy. So, social issues and culture also play a role in well being. (What if everyone had more children than they could afford? What if everyone did drugs? What if we opened our borders wide open and 1 billion poor people flooded into the country within one year? What if population growth exploded and the costs of land and resources increased dramatically?)
My message--don't take capitalism as a dogma. Question when and where it is good and open yourself to the possibility that in some situations it would be bad. Keep in mind that the best conditions for freedom and capitalism are when the economy and the nation, overall, are healthy and good. Thus, as paradoxical as it might seem, certain types of regulation might actually be pro-capitalism, or at least pro-freedom (in a very broad sense). (Ie--What good is your freedom if you're poor and/or if the nation is so heavily populated that you can't move without getting into another person's space?)