Yeah, this is a point that should be brought out even more. Governments do have the power to improve the economy if they want. It takes a great amount of effort, some integrity and a little luck, but governments can improve the lives of their citizens and consequently bring about more prosperous eras.BulletMagnet wrote: ↑Wed Jul 17, 2024 12:25 amIf memory serves in the aftermath of World War II Truman put hard-and-fast price caps on various goods to ensure that companies couldn't use postwar inflation as cover to raise prices even further, as they've been explicitly doing post-Covid. The top federal tax rate under Eisenhower was 90 percent, essentially a wealth cap. Stuff like this can and has been done, though decades of conservatives branding nearly any attempt by the government to improve the lives of its citizens (y'know, the reason government is supposed to exist) as the looming return of the USSR makes it considerably more difficult these days.You're suggesting policies that have never been implemented with success in human history.
Look at our current situation now. What are the biggest needs? I'll list a few here:
-Affordable Housing
-Living Wages
-Infrastructure reform/rebuild
-Drug Rehab/Homeless Reintegration
Now can government improve these? Of course they can. Government could assemble its own (additional) engineer/construction corps drawn from the general population (creating more jobs,) whose job it would be to construct low income housing, repair roads and rebuild infrastructure (rail lines, train tracks, roads) which have been allowed to fall into disrepair. Homelessness is not an easy problem, but it can also be tackled. if affordable housing and more jobs are made available, and there is a path for the homeless from the streets to a home with living wage, then that right there will do a lot to bring out of homelessness anyone who is currently homeless and not addicted to drugs. For the drug addicts, the path is much harder but progress could be made with increased effort to crack down on dealers/suppliers while expanding services for addicts.
But let's say that increased taxes on the super-rich and economic benefits from improved infrastructure wouldn't offset the costs of the government setting up new job corps and building low-income housing. Where else could they get money? Well, where the fuck do they get the billions and trillions of dollars when they bail out banks? If nothing else, governments could print large amounts of money in the short term specifically and only for paying the costs of creating jobs directly and rebuilding infrastructure. I do believe that this initial payout, while expensive, would eventually pay off in dividends. Each person you bring off the streets becomes a taxpayer. Improved infrastructure makes cities more attractive for large corporations to sink money into. More employed people develop skills which they can use in other, non-government jobs. The value proposition of the whole country is raised. In my opinion, of course.
These measures have been tried in the past and they have been successful in the past. There are ways to combat the problems facing us today. I just do not think there are any politicians currently in power with the interest in doing so.