LINK Obama To Americans: You Don't Deserve To Be Free
Leetle 'o''s answer to individualism, of course.
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I really do not care to hear his opinion on anything anymore. Retired Presidents should be just that, retired. He had his 8 years, move on.
JobyOneKenobi
Level 7
June 24, 2019
1
Let's look at the economic booms of the 50s and 60s.
First of all, every industrial competitor in the world was bankrupt or bombed to rubble (sometimes both) in the immediate postwar period. If you wanted to rebuild your industrial economy, the US was likely your only supplier.
US companies were flush with war profits and there was a tremendous, pent up demand for consumer goods after rationing. So US companies had the capital and the market to expand while other countries were still trying to restore basic services.
These conditions lasted until the early 1960s.
There were also two major tax cuts that juiced the American economy in this era. Truman rolled back (but did not eliminate) wartime tax collection. JFK also rolled back income taxes, which sparked a market rally that lasted until 1970.
So all we have to do to recreate Obama's rosy vision is have another world war that destroys every other economy but our own. Sure, untold millions will die, but Obama will finally be right about the US economy... And wouldn't that be a worthy goal???
timon_phocas
Level 9
June 24, 2019
0
If your theory can’t explain facts, or uses bad ones, it is wrong.
Yes, there was a huge post WWII boom, as the US was the only intact large industrial economy. But taxes stayed quite high through it all until Reagan 1981, when the top income tax bracket was cut from 70% to 50%.
The modern era of wealth inequality, unparalleled since before the Great Depression, starts there, in the 80s.
Productivity after 1981 rose at a rate unchanged (there is no Reagan effect on that). But the extra wealth after the 80s was transferred to the top 10%, and for the first time the children of everybody else could not look on prospects of a better life. This frustration in part elected Trump.
Trump and supporters want the 70s back. We now have the oil to avoid 70s problems with that commodity (which I well remember, waiting in gas lines in 1973 in my old 1969 Ford Falcon). But the main destructive influence of Ronnie Reagan has not been fixed. We need New Deal, 50s, 60s, and 70s taxation back.
Seems he was criticizing market fundamentalism and not individualism.
WilyRickWiles
Level 8
June 24, 2019
1
I read the article. It seems to me that the sentence: "You don't deserve to be free" is not a quote. It is an interpretation of the philosophy of economics Obama presented in his speech and I think it is an accurate interpretation.
I copied that analytical interpretation from the article - see below:
"By raising that question, we uncover the fundamental: the meaning of capitalism and the meaning of government controls. Capitalism means freedom. Government means force.
Suddenly, the whole issue comes into focus: Obama is saying that freedom leads to poverty and force leads to wealth. He's saying: "Look, we tried leaving you free to live your own life, and that didn't work. You have to be forced, you have to have your earnings seized by the state, you have to work under our directions--under penalty of fines or imprisonment. You don't deserve to be free."
Looks to be spot on in my eyes.
@iThink Capitalism doesn't mean freedom though...
@WilyRickWiles just like the words "dignity" and "honor" it depends on the context in which the word is used. LOL
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