The American Dream vs. The Gospel of Wealth: The Fight for a Productive Middle-Class EconomyNorton Garfinkle paints a disquieting picture of America today: a nation increasingly divided between economic winners and losers, a nation in which the middle-class American Dream seems more and more elusive. Recent government policies reflect a commitment to a new supply-side winner-take-all Gospel of Wealth. Garfinkle warns that this supply-side economic vision favors the privileged few over the majority of American citizens striving to better their economic condition.Garfinkle employs historical insight and data-based economic analysis to demonstrate compellingly the sharp departure of the supply-side Gospel of Wealth from an American ideal that dates back to Abraham Lincoln—the vision of America as a society in which ordinary, hard-working individuals can get ahead and attain a middle-class living, and in which government plays an active role in expanding opportunities and ensuring against economic exploitation. Supply-side economic policies increase economic disparities and, Garfinkle insists, they fail on technical, factual, moral, and political grounds. He outlines a fresh economic vision, consonant with the great American tradition of ensuring strong economic growth, while preserving the middle-class American Dream. |
From inside the book
Results 1-5 of 42
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... major contribution to the success of this volume. And finally I want to express my gratitude to Jonathan Brent, Sarah Miller, and their excellent editorial and production team at Yale University Press for a superb job in bringing this ...
... major contribution to the success of this volume. And finally I want to express my gratitude to Jonathan Brent, Sarah Miller, and their excellent editorial and production team at Yale University Press for a superb job in bringing this ...
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... major cuts in the in- come tax , the estate tax , corporate taxes , and taxes on divi- dends and capital gains . By 2004 , the administration's tax cuts had trimmed over $ 200 billion from the federal government's annual revenues , with ...
... major cuts in the in- come tax , the estate tax , corporate taxes , and taxes on divi- dends and capital gains . By 2004 , the administration's tax cuts had trimmed over $ 200 billion from the federal government's annual revenues , with ...
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... major tax increase during the Clinton administration while the Bush tax cuts produced noth- ing of the kind . What rationale could the Bush administration have had for wreaking such havoc on the federal finances ? Why Introduction 3.
... major tax increase during the Clinton administration while the Bush tax cuts produced noth- ing of the kind . What rationale could the Bush administration have had for wreaking such havoc on the federal finances ? Why Introduction 3.
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... major tax breaks for the highest - income earners work magic on an economy that had already been growing for several years at faster - than- historical rates — under a progressive tax structure that pro- duced healthy federal surpluses ...
... major tax breaks for the highest - income earners work magic on an economy that had already been growing for several years at faster - than- historical rates — under a progressive tax structure that pro- duced healthy federal surpluses ...
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... major cities - popularly called Hoover- villes . Most Americans became convinced of three things : that the government under Hoover did not know what it was doing , that the fate meted out to ordinary workers and their families was ...
... major cities - popularly called Hoover- villes . Most Americans became convinced of three things : that the government under Hoover did not know what it was doing , that the fate meted out to ordinary workers and their families was ...
Contents
1 | |
12 | |
27 | |
47 | |
4 The Age of Reform | 69 |
5 The Business of America Is Business | 88 |
6 The Renewal of the American Dream | 107 |
7 The New Gospel of Wealth | 144 |
SupplySide vs DemandSide Economics | 163 |
9 The Way Forward | 189 |
GDP Consumption Investment Employment Unemployment and Marginal Tax Rates 19512004 | 201 |
Notes | 205 |
Index | 221 |
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administration aggregate demand Ameri American Dream bank BEST Budget Bureau of Economic Bush tax cuts business investment business owners citizens clear the path consumer decades deficit spending demand-side democracy Democratic economic growth economic policy economists effect Engen and Skinner federal government Federal Reserve fiscal policy G.I. Bill GDP growth Gilded Age Gospel of Wealth Historical Statistics Ibid Income and Product income tax rate increase increasingly industrial inflation Kennedy Keynes Keynesian laissez-faire Lincoln low top marginal major marginal income tax marginal tax rates ment MIDDLE middle-class millions monetary policy National Income neo-Keynesian economics nomic personal consumption political President progress progressive tax prosperity Reagan real growth recession reducing reform Republican role Roosevelt Social Darwinism society stagflation supply-side economics supply-side tax cuts tariffs tax cuts Tax Policy taxpayers tion top marginal income top marginal rate U.S. Department U.S. economy unemployment Union United vision workers WORST York