the reset will surely make it harder for the current generation because any major political/economic transition is difficult. but the current generation is screwed either way. it should be great for the future generations because they will have 50-100 years to transfer wealth from one to another until the wealth discrepancy is at the current level.
The US HAS nationalized many parts of the economy these last years such as the banking sector for instance. Only difference is the benefits of it have been reaped by private bondholders and stockholders rather than the public and the taxpayers. They should have been wiped out. All of them.
there are exceptions to my generalization, naturally. but the general trend of the past ~40 years is clear: money flows from the poor to the rich. e.g. the first hit from google search: "The gap between rich and poor grows in the United States. By David Cay Johnston Published: Thursday, March 29, 2007 Income inequality grew significantly in 2005, with the top 1 percent of Americans - those with incomes that year of more than $348,000 - receiving their largest share of national income since 1928, analysis of newly released tax data shows."
The implication here is that social structure is gone. Using Bill Gates as an example of somebody who "made it" is a BAD idea. Bill Gates came from a wealthy family in Seattle. His mother sat on the national board of the United Way...the same board that the head of IBM was on...when IBM was looking for new software for their NEW PC! Sergei Brin came from the OLD Soviet Union....his education was paid for and there was a social structure that (once he was in the US) promoted wealth creation. Boys and girls "coming of age" in the new deflated/destroyed US economy will NOT have such a luxury as flowing within the economic classes - they will either be born rich or they are screwed. -g
Maybe the money flows, but at least the poor are getting something for their money. A house full worthless crap. <object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/aAnah0l0rqk&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/aAnah0l0rqk&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object>
no, i am proposing a peaceful equalization of assets. the system will start being capitalistic again (after everything is divided equally).
the bottom 50% pay almost no taxes. The top 50% pay almost all the taxes (growing rapidly as income rises). So the govt services, roads, justice systems, debt payments, defense, medicaid, education for the poor, food stamps for the poor, section 8 housing for the poor, welfare for the poor, energy subsidies and a lot of other services all come from the richer. In addition, most of the jobs that the poor have are likely also from the rich - who start, grow, take risks or fund most of the companies as well as the buildings in which they exist. That also includes the military/govt jobs that the rich also provide by supporting the govt The top also disproportionately purchases more of the luxury and retail purchases that employs an awful lot of the poor. If the rich left the country suddenly, the poor would be in a living hell. If everything was redistributed, the poor would be poor again within 10-20 years. Your generalization is entirely backwards and entirely wrong.
hahhh...you must be fucking kidding, right? i saw that one too...after USSR collapse...and there was another one..a bit earlier in Russia-1917..read the history.. sorry, but to me poor=stupid,lazy person. the gap you are talking about is widening, because the lazy became even lazier and in this quote below rich should be substituted by poor. they certainly have no incentive..because there so many support programs for poor provided by government and btw-poor are not paying any taxes anyway,while "rich" are giving 40-50% of their income. so you got your equalization already. Thank you Barry O and Co