At no other time since the inception of Unemployment Insurance and our social service agencies like Food Stamps, Aid To Dependant Children, Social Security, and Disability Insurance have they become so overburdened. The shear magnitude of citizens now applying for assistance are often left in a perpetual state of limbo. Why? Because these agencies are not equipped to handle all the citizens that are caught up in this whirlwind of the current economic crisis. The monumental amount of Americans that actually need assistance whether it be for food or financial has steadily manifested to almost a point where the number of citizens who need help will outnumber the Americans who are capable of helping them.
The United States tax base has deteriorated so much in the last 30 years the funds for all the public services that have been mandated by local, state, and federal laws is not sufficient to handle all those who seek assistance. Where there is funding this available money, by the colossal numbers of needy citizens, most of the time won’t reach those people when they actually need it. For example: Mortgages or utilities that are due become late consequently more money is needed to pay late fees or extra service charges just to be able to have the necessary utilities needed to live. As another result credit scores go down so if you needed to ask for a loan re modification for your mortgage the banks won’t approve your loans. Consequently more and more homeowners are now in default and foreclosures are still increasing. Banks have found it more lucrative to file foreclosures than to grant loan re modifications today.
The argument of whether the top 5% of the wealthy will be able to spur economic growth [the so called engines of job growth] is a false assumption. Only through actually achieving The Williams Theory Of Economic Evolution [ The greater amount of citizens with more disposable income to spend, save, and pay down debt is the greatest economic boost any society can have ] will the American populace begin to recover. When we realize that reversing this trend of a diminishing tax base and start to rebuild the our core foundation by creating more living wage jobs will the United States begin to actually and realistically rebound and grow.
To accomplish this undertaking of rebuilding the economy of the United States and increasing our tax base will take a coordinated effort on all levels of government, business, and individual entrepreneurs. The Federal Government has already pumped billions of future tax revenue into state budgets that should pave the way for job creation. Some states that have accepted their allotted funding now have the means to create public works projects for employing the unemployed. Unlike Florida who turned down the federal block grant of stimulus funding which would have been used for job creation. Illinois received this grant and is now on their way to improving their infrastructure and mass transit. Another crucial factor in securing economic growth is with the implementation of Universal Health Care. A single payer plan that insures every American citizen. This is vital for the future stability and economic growth in the United States. The Federal government has already taken steps in involving the private sector in outlaying strategies in increasing the tax base but more is needed by all. Implementing National Economic Reform with it’s ten articles of confederation outlinies the progressive measures designed specifically with living wage job creation. A target of a 3% unemployment rate is not unrealistic for this nation to achieve.
Only when the United States starts to reduce the unemployment rate will our service agencies and support organizations begin to actually be able to help alleviate the suffering of our American citizens that still need assistance. A tax base that is sufficient to meet the needs of all is vital for the economic growth, stability and future security of the United States. What this country does now will affect the rest of the worlds economies for years to come.