America is failing economically because of one word, greed. The trickle-down theory of economics known as Reaganomics has been proved to be dead wrong. Jeremy Hobbs, executive director of Oxfam International recently said, "We can no longer pretend that the creation of wealth for a few will inevitably benefit the many – too often the reverse is true.” The super wealthy are actually the world's most expensive welfare kings and queens. "From tax havens to weak employment laws, the richest benefit from a global economic system which is rigged in their favor.” Government policies around the world are slanted in favor of the wealthy, while punishing the poor.
It is a lie that taxing the wealthy will punish those who create jobs. Why? Because the ones who create the most jobs are actually middle class small business employers, not the wealthy sharks. Historically, this punishing kind of economic set up has led to national collapse. Why? It minimizes economic activity among the majority who actually create the economy.
There is also another principle which is being violated. Greed destroys the life of the greedy, ruining their own households, and ultimately causes their own poverty. America has praised greed for far too long. We have placed it on a pedestal and bowed down to the idol of greed. It's high time the we recognize our pagan worship and return to the generosity and equality of our forefathers.