I normally don't reply to idiocy but you begged.
That's OK. If I read more of your posts, I'm sure I'd regard you as the moron.
- When a small fraction of the populace owns the majority of the nation's wealth and brings in the majority of the income...
as it has always been. Or are you recommending Communism?
No. I am an advocate of a mixed economy with some elements of socialism and some elements of capitalism. I'm a libertarian in terms of issues involving personal freedom (legalization of drugs, prostitution, unrestricted abortion, freedom from religion, etc.).
I think people should receive proper compensation for their contributions to the act of wealth production. It defies reason and logic to say that a very small percentage of the population contributed the human effort responsible for the majority of the nation's wealth. I think business owners, executives, and successful investors often receive too much compensation and that work-a-day folks often receive too little.
What's amazing is that, contrary to what free market dogmatists might believe, many socialists would actually agree that people should be rewarded for their work. The big differences between capitalists and socialists in these regards are over what constitutes work and a contribution to production.
A capitalist might look at a wealthy banker and say that he deserves his hundreds of millions of dollars. In contrast, a socialist might look at him and say, "he sits on his ass all day and while whatever contributions he made to the efficiency of the market might be valuable, a great many people could have done it for far far less compensation and his contributions weren't that amazingly brilliant."
- ...and moronic Americans become free market dogmatists and believe in capitalism unquestionably as though it were a religion even though the policies they unwittingly advocate work to their detriment (Joe the Moronic Plumber who supposedly didn't even have a plumber's license)...
so it is Communism you would prefer?
Why are laissez-faire Capitalism and outright Communism the only options? How would you characterize the successful German economy? Is it possible for some aspects of the economy to be socialist (public schools, roads) and for others to be capitalist (widget production)?
You called me a moron, but you almost come off as being a moron yourself by failing to contemplate that possibility.
- ...and as a result of this free market mentality the government allows millions of jobs to be sent overseas, imports hundreds of thousands of foreign workers on H-1B and L-1 visas to displace college-educated Americans and drive down wages, and encourages tens of millions of impoverished immigrants to come to the U.S. to displace working poor Americans and drive down their wages...
so you think the government is forcing companies to ship jobs overseas but they are also importing immigrants to work jobs, all to drive down the average wage?
Not exactly. I think the U.S. government allowed companies to ship jobs overseas for the purpose of producing goods and services for domestic consumption and that businesses took advantage of global labor arbitrage. So, businesses did it on their own with the permission of the U.S. government.
The U.S. government allows over a million immigrants a year to enter legally and has also allowed tens of millions of illegal immigrants to enter and remain. It encourages them to come by offering free health care, in-state college tuition, and birthright citizenship (anchor babies).
I do think that our politicians know what they are doing, so, Yes, the purpose of these policies is to drive down wages and destroy the American middle class for the benefit of the Rich. Our politicians are, in essence, allowing businesses to effectuate a wealth transfer from the middle and lower classes to the wealthy. Foreign outsourcing and mass immigration (global labor arbitrage) drive down wages and will ultimately average out the U.S. standard of living with that of the third world, resulting in a small percentage of the people being very wealthy and with the rest earning third world wages.
- ...and when as a result the lower and middle classes experience decreasing wages and benefits (so that the wealthy people can make even more money) and greater unemployment and thus cannot provide as much tax revenue...
huh? Lower wages are creating unemployment?
You don't have very good reading comprehension, do you? (Or were you just half asleep?) The "greater unemployment" is part of what the lower classes experience resulting from the global labor arbitrage that was mentioned in the previous bullet point.
- ...and then have an increased need for government social welfare services (unemployment compensation, Medicaid, welfare, etc.).
there is no growing need for these services. There is a growing unwillingness for people to pay their own way. These people are going to have the tit yanked from them at some point, much like you can't keep nursing a kid into his teens...
Haven't you paid attention to the news reports about how there are 5 or 6 unemployed people for every job opening? Even if these people can find jobs they will likely be poverty-wage jobs in which case even though they are working (working poor) they are likely to still need governmetn assistance.
- ...it can be difficult to balance the state and federal budgets.
so you are saying the people on welfare are the whole problem. OK buddy...if you say so.
Uh, no. I'm saying that our Government's and the Wealthy's war against the American middle class and lower classes is the problem.