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View Diary: The End of Economic Growth, Economic Inequality, and Class War (25 comments)

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  •  Great diary, and I agree that (5+ / 0-)

    "the political threat to their status and comfort would come from rising popular demand for policies of income redistribution."

    I think we need to build a strong movement to demand policies of income redistribution. As they said in the Sixties, Jobs or Income NOW.

    The president's much-needed but comparatively small potatoes American Jobs Act is great but we need so much more. As states destroy hundreds of thousands of good government jobs, we should be going in the other direction.

    I propose a new economic philosophy of Rise Up Economics: tax the 1% and give to the 99% to stimulate the economy, address economic inequality, and change work as we know it.

    Besides the basics of making it easier to join a union and a big jobs program, Rise Up Economics would include two new ideas for earned income security:

    1) Make the Earned Income Tax Credit a middle class program that rewards work.
    2) Allow workers to earn some basic income after working and paying taxes for 5 years. Working people would earn a small basic income of $500 a month after 5 years, and every 5 years that would go up until folks earned $1,000 a month after 20 years of working. Instead of all-or-nothing pensions where you don't get anything until you stop working, this would provide income security during your working years.

    The extra income from the expanded EITC and the basic income would allow folks to work less and live more, or invest the money and retire early. It blunts the rough edges of capitalism while keeping the good things, like freedom and free enterprise.

    "Imagine all the people, sharing all the world." --John Lennon Follow me on Twitter @riseupeconomics

    by RiseUpEconomics on Mon Oct 15, 2012 at 12:04:31 PM PDT

    •  Ahhh.... (2+ / 0-)
      Recommended by:
      FloridaSNMOM, semiot

      Even Nixon discussed a minimum national income.

      Your ideas are pure American:  lots of complicated rules with exceptions to be named later.

      Do it right the first time.

      -6.12 -4.87 Nobody votes for the lesser of evils. We vote AGAINST the GREATER of evils.

      by jestbill on Mon Oct 15, 2012 at 02:13:08 PM PDT

      [ Parent ]

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