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Forum Post: This May be Just the Beginning

Posted 12 years ago on Sept. 29, 2011, 1:55 p.m. EST by LAEconomist (0)
This content is user submitted and not an official statement

OCW may be just the beginning of many movements to come. Unemployment continues to remain at the high levels they were at when this recession began. Those graduating have little to no hope of fruitful employment. Corporations are making record profits and jobs are remaining scarce. It is important to note that the profits are not being made because more products are being sold, but the corporations have slashed costs by significantly decreasing overhead by either headcount reductions or moving the jobs overseas where labor is a fraction of the cost. The politicians are continuing to give incentives to the wealthy and wallstreet claiming that the money will trickle down to mainstreet. Trickle down economics has never worked. The wealthy will not put the money back into the economy they will keep it in savings and/or put it in foreign investments. Out of greed it seems that an economic fundamental is being ignored which is the multiplier effect. Basically for every dollar given to someone a percentage will go back into the economy and continue recycling to create more dollars in the economy; the lower the income the greater the percentage. As it stands with the incentives going to the top 1% fewer dollars are going back into the economy and less and less are available for the remaining 99%. This needs to change, we are moving closer and closer to a third world economy. The only hope is to stop the control wallstreet has on our country and give it back to mainstreet.

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[-] 2 points by gawdoftruth (3698) from Santa Barbara, CA 12 years ago

trickle down economics not only never worked it was always simply an evil lie.