Tuesday, January 31, 2023

A Bad Idea Called: Supply Side Economics

While I was in school, starting in the mid-sixties, factories were moving north to south trying to flee from unions...  When unions followed, the factories moved to Mexico (can you say, "maquiladora?")...  Then mainland, communist, China opened up to greedy capitalists and factories went there in droves.

All this to avoid the cost of employee wages and benefits, and to avoid the cost, taxes, to pay for the government to pick up the responsibility, and the tab.

It's called, "supply side economics," it means unregulated, highest profit margins, capitalism.  This proof that unregulated capitalism is feudalism  was pushed by Reagan republicans and neo-liberal (who are neither new or liberal) democrats.

Economies flourish when there are customers, reasonably compensated employees, who can afford to buy what businesses sell; 70% of the money spent into our economy.  The other 30% is spent into the economy by the government, often by issuing debt, when those who can afford to pay taxes lobby elected officials not to tax them.

United for ALICE is a place that studies working class folks who can't work enough hours, at multiple jobs, to afford to live indoors and eat (to say naught of the other of life's expenses).

It won't take till 2035 to fix this problem if we listen to, and allow them to do their jobs, professors (Senator) Warren and (Rep.) Porter.