What drives the US Economy? Isn't it in large part the purchasing power of the US Middle Class?
That consumerist drive that keeps things turning, and keeps people buying new clothes, new gadgets, new cars new [insert thing here]? Do you see a problem with the disparity between the wealthy and the middle class? On 5 September 2010 16:32, Jerry Barnes <[email protected]> wrote: > Does he mean the necessities of life like a housing, clothes, and food? If > so, then I disagree. There are plenty of ways for the middle class to live > comfortably now just by implementing common sense. Don't buy a McMansion if > you don't need one, buy a gas efficient car instead of a Suburban, don't > eat out four nights per week, send your kids to public school, buy a 32" TV > instead of a 58" TV, and so on. > > A 70-90% marginal income tax on the highest incomes? While not exactly > calling for that now, it doesn't seem like he's not averse to the idea. He > even admits that the rich have many options in how to spend their money. > They would flee so damn quick that it wouldn't be funny. I wonder if he'd > like this starting at 250k? > > > One of the biggest problems in the 2000's was the availability of credit to > those who should not have qualified. The continued issuance of credit to > those who could not pay it back was bound to cause a problem. His article > did not mention people taking responsibility for their actions by > controlling their spending. He seems to actually celebrate the bad > consumer habits that dominated the first half of the decade instead of > encouraging thrift and saving in order to make big purchases. He just takes > aim at the progressive whipping boy, the rich. > > Seems like another crackpot progressive economist to me ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology-Michael-Dinowitz/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:326926 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
