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11/29/2011

One thing I would like to see ...


In the years following WWII, the American economy absorbed all those G.I.s returning from abroad and expanded at a rate unseen in previous times.

During those years, Corporate Income Tax was 50%. During those years, the maximum personal Income Tax Rate was 70%. In the face of those, by current standards, extraordinary "job killing" tax rates, Americans were put to work and the economy thrived.

Kinda puts the lie to the Conservative thought process, does it not?

The reason the jobs were there and the economy ran rampant, was that the American Manufacturing Capability was as strong, if not stronger, than any country in the world. Bar none.

Today, the largest corporations in America are sitting on trillions of dollars of unspent funds - corporate bank accounts are BULGING - and Americans are losing their homes and starving for work.

Corporate America, put America to work. Start re-building the American Manufacturing base - build it leaner and more efficient than it was, but build it. RE-build it. Corporate America destroyed it by shipping those manufacturing jobs overseas - or giving up in the face of cheaper labor from overseas, rather than refining and restructuring processes so as to be able to compete with jobs held HERE.

Read the manifesto of the S. C. Johnson Company (the makers of many household products, like "Pledge", for example), called "This We Believe". Note how far down the list "Shareholders" are - and note also, that all they are promised in this corporate philosophy is "a reasonable return on investment". Certainly a far cry from the drive in most of "Corporate America" to maximize "Shareholder Value".

The money is there. The educated and skilled workforce is there. Spend the money, give people jobs, and make America the manufacturing giant it once was, again.

Ndinombethe.

3 comments:

Audubon Ron said...

Just a question. Why did all the jobs go overseas if this was such a great environment to do business?

PattiKen said...

The reason, excuse, answer, rationale (depending on whom you ask)? No matter how they couch it, it all boils down to greed.

Grandmother said...

It really seems remarkable that the choice can be made for short term profits for the 1% even knowing that making the economy better for the 99% makes it better for the top 1% too. As your WWII example proves.