I haven't gone bankrupt personally - yet. However, the federal government has gone bankrupt - but we don't feel it yet because we keep pushing it out in time to our kids and their kids.
Trickle Up economics - that is your term not mine. I don't thing any kind of trickling will work. I would just advocate people and businesses paying there fair share of taxes. The only trick of course if figuring out and agreeing what that is. And then keeping the tax code simple so that tax payers and the IRS easily know what everyone owes.
As for the current situation - it resulted from lax regulation of the markets. If investors were investing more of their own money and less borrowed money (which, in part is our money) they would have been more careful about where it went, and if their investments went bad, they would be on the hook - not the banks from which the lent the money.
I whole hardely agree with you that we have the government we vote for. But I don't think we can ever count on the majority of the population (or even a signficant minority) paying enough attention to elect better politicians. I don't know what the answer is there - but I do think we need to find a way to greatly reduce the influence of money in politics.
Money talks louder than words, and what people always seem to forget is where most of all that campain money goes. To the media. I think there is a great conflict of interest there, but you never hear anyone in the media talking about that.
That the courts have ruled that money = speach and corporations = people are great bastadizations of our democracy.
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