The wealth built up by the middle class was transferred to China while the Waltons took a cut. The problem is, the middle class let it happen by listening to Econ professor hucksters and voting for “free” trade. You get what you get.
Globalization certainly played its role in the dispariyt. But would we (you) be richer?
I don't think so. The bottom 50% of Americans are significantly richer than the bottom 50% of any other country or region, and our middle
class is absurdly rich compared to any other middle class.
The "problem" is that the same is true of the rich. If we increased taxes on their assets, is that going to make all of us richer? I doubt it, not as much as taxing
everyone less, government wasting less would. That's tried and true.
Only our bottom 10% are worse off.
I addressed it in a follow up, but these assets didn’t appear from a cloud of smoke, but rather through calculated means that stripped them from middle class.
I get called a socialist on here for good reason, in part to my inability to fully explain my beef with the wealthy. My big problem is that wealth was stolen from the middle class and I’d love to see it returned back.
Wealth creation and theft are two entirely different things. Only for the socialist are they the same.
Your socialist states have always generated less wealth as a natural consequence of such a worldeiw. It's no coincidence.
Since it was stolen from
them you, it's your "right" for you to steal it back. No, it's not ok for you to play Robin Hood stealing from the rich. Robin Hood didn't even steal from the rich, ya know? He stole from the tax collectors, people who wasted it... sound familiar? that's DOGE.
No, I'm all for figuring out a way to generate more tax revenue. But these tired old socialist "ideas" that can't work, never have worked, aren't the way. We are the richest people to have ever existed because we don't let people just steal in the name of "reappropriating where it belongs." You aren't creating your welfare state without hurting productive Americans.