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Originally posted by horatiokim at 2011-11-12 10:21
Why is it that Uncle Sam's good old U.S is the one and only nation (among a group of Anglos such as Canada, U.K,
Australia and New Zealand), that does not have fair and ...
You're post doesn't make much sense. First, I'm sure the Anglo "minority" as you call it is much higher than 15%. Second, the other population groups that make up the majority of the population when combined with this Anglo "minority" are descendents of the Dutch, Scandinavians and Germans. These countries all have vast social welfare systems. The fact is that few Americans who are not recent immigrants relate much to the countries where their ancestors came from, and most came at a time when there were no social welfare systems to speak of in any country.
Furthermore, to say that the US doesn't have social welfare systems in place is wrong. There is free education through high school, state universities, welfare, food stamps, unemployment insurance, amongst other programs. the one thing the US doesn't have like all other developed nations is universal health care. There is, however, Medicare for the elderly, and Medicaid for those that can't afford private hospitals or don't have adequate insurance coverage. The number of people in the latter category has grown to an alarming amount.
The reason there are so many people in the US that have fallen below the poverty line is that there has been an assault on the working people and the labor movement over the last 35 odd years that has resulted in lower real wages, no job security, diminished health care insurance, elimination of company pension plans and an outsourcing of what were decent paying (unionized manufacturing and service) jobs to countries where labor is cheaper. The industrial and financial elite in the US have seen their personal wealth skyrocket as they are realizing huge profits on all fronts from a rising stock market to overseas operations. At the same time their tax rates have plummeted and loopholes to avoid or defer taxes have risen. These two facts, lower wages for workers and lower taxes paid by the wealthy, have eroded the US government's tax base at all four levels of government. This has resulted in increased US government debt.
To maintain the illusion of an increasing standard of living for the average citizen, borrowing became much easier as lending regulations and guidelines to risk management were thrown out by elected officials (the handmaids of the private elite). Consumption rose as did debt. When this house of cards collapsed in 2008, it resulted in the economic mess of today, where the people have no money to help themselves, and the government has no money to help the people.
The wealthy and the corporations are, however, sitting on trillions and trillions of dollars of cash, securities and fixed assets, both in the US and abroad.