A LDS 1st Presidency Proclamation on the Economy "The experience
of mankind has shown that the people of communities and nations among whom
wealth is the most equally distributed, enjoy the largest degree of liberty, are
the least exposed to tyranny and oppression…""One of
the great evils with which our own nation is menaced at the present time is the
wonderful growth of wealth in the hands of a comparatively few individuals. The
very liberties for which our fathers contended so steadfastly and
courageously…are endangered by the monstrous power which this accumulation
of wealth gives to a few individuals and a few powerful corporations. If this evil should not be checked, and measures not be taken to prevent the
continued enormous growth of riches among the class already rich, and the
painful increase of destitution and want among the poor, the nation is liable to
be overtaken by disaster; for, according to history, such a tendency among
nations once powerful was the sure precursor of ruin."
In the latest arguments about raising the minimum wage in the U.S. business and
the Chamber of Commerce have come out swinging against any raise. They assert
that a rise to $9 an hour would cripple business and stop hiring. Why
don't we hear such outcry over the ever raising compensation of the
CEO's and the 1percent? Now this article says income inequality is severe
in the U.S. We should be as vocal to the Chamber of Commerce and U.S. business
as they are towards any meager wage increase for those at the bottom. The rich
truly are getting richer and the poor, middle class are drowning in this unequal
I think UNICEF should set all the wage/salary scales in the United States. They
would have to sign off on every burger-flipper and CEO.Well, not
really.We need to keep the UN far away from our economic system.
to LDS LiberalThat is a great quote, I'm unfamiliar with it.
What is the attribution?
The LDS 1st Presidency and Quorum of the 12 ApostlesOfficial
Proclamation on the Economy Your Brethren, Brigham Young,
George A. Smith, Daniel H. Wells, John Taylor, Wilford Woodruff, Orson Hyde,
Orson Pratt, Charles C. Rich, Lorenzo Snow, Erastus Snow, Franklin D. Richards,
George Q. Cannon, Brigham Young Jr., Albert Carrington.Salt Lake
City, Utah Territory, July 10th, 1875.
Well,barack is well on his way to making us all poor. Soon his goal
of equality will be achieved.praise barack
Dear Chris BIf you will bother to do a little research you will find
that the current slide in middle class income and wealth goes back to 1980 when
Reagan started cutting marginal income tax rates and was exacerbated in 2001
with the Bush tax cuts. Currently the top 20% own 93% of the nations wealth. I
presume you would like that to go higher. Median income has not increased since
1980. "I can explain it to you but I can't comprehend it for you"
viejogeezer,if you would bother to do a little research you would find the
gap has accelerated under BO.you would also learn the bush tax cuts
reduced the effective tax rates for the low and middle income earners MORE than
for high income earners.Family of 4 earning $50k saw a 700 basis
point reduction in effective tax rates (500 bp rate cut and doubling of the
child tax credit) while a high income family of four saw their rates cut 460 bp.
(don't qualify for child tax credits) But if you want to say 460bp is MORE
than 700 bp, go ahead.Im glad to see LDS?lib still thinks the 2013
economy is the same as the 1875 economy. He fails to aknowledge the work done
by T. Roosevelt (R) in breaking up Standard Oil and the JP Morgan, Rockefeller,
and Carnegie monopolies. it again establishes his lack of credibility. But
that's what we have come to expect from him.
Dear Lost,I appreciate your thoughtful comment, its not just
kneejerk namecalling. But I wonder which new policies of the Obama
administration may have contributed to your acceleration? Might it have been the
recession which affected lower income people more markedly. I wonder if a 5%
reduce in tax rates for a million dollar taxable income (50,000 for 30 years or
$1.5 million in total savings added to accumulated wealth) as opposed to $1000
in child credit which goes to groceries or medical insurance. Or might it be an
acceleration in the effects of the reduction in marginal rates?
Viejogeezer,I would suspect it is BO's anti-private employment
policies. stopping pipelines, revoking federal mineral leases, additional
regulation of CO2, restrictions on business credit through dudd-frank,
additional costs to hire people through Obamacare, uncertainty concerning the
economy from escalating debt that have exascerbated the wealth gap.Some of it is cultural, too. We have become more dependent on the government,
which robs initiative from too many. Those who are wealthy have initiative to
avoid dependency. Some of the wealthy have used their influence with the
controlling party in DC to take home public money for thier own use - failed
"loans" to Solyndra and the ilk come to mind.Symptomatic of
that culture of dependence is the idea forced on Fannie and Freddie by barney
frank that everyone should be able to buy a house whether they could afford it
or not - just accomodate them with junk loans. In that atmosphere, the housing
bubble developed, which when it burst, brought our economy down.As
for it hurting the wealthy less - the market for starter homes was not hurt
nearly as bad as for high-end or even move-up homes.
To "LDS Liberal" if you bothered to read all of that proclamation, you
would see that it is actually speaking out against socialism and
collectivism.You see, under your favored socialism, the power and
wealth are concentrated into the hands of a few people. The proclamation states
clearly that "The very liberties for which our fathers contended so
steadfastly and courageously, and which they bequeathed to us as a priceless
legacy, are endangered by the monstrous power which this accumulation of wealth
gives to a few individuals and a few powerful corporations. By its seductive
influence results are accomplished which, were it more equally distributed,
would be impossible under our form of government." If the nation was
founded and established under the principals of self sufficiency, and we are now
moving towards socialism and government dependance, doesn't that mean that
the evils that we were warned about come from the government?
Lost, I guess I just don't see it unless rescuing the US auto
industry or creating 6 million private sector jobs is anti private employment.
Remember it was the Governor of Nebraska that asked for the pipeline slowdown
because of concern over the aquifer, I would be too. As to CO2 and Solyndra,
maybe you think it is ok to destroy the planet but I would like some reasonable
controls and development of industry that doesn't kill us. As to a culture
of dependency, how about some non-anectdotal evidence I'm one of the 47%
and proud of it. I get social security and medicare. I worked for 60 years,
paid in and think I earned it. If Dodd-Frank does something to rein in
overspeculative investments(derivatives and credit default swaps) by banks
I'm all for it. The bubble wasn't caused by Barney Frank, it was
greedy lenders who didn't use normal prudent lending policies.