On Sep 9, 2010, at 1:59 PM, Michael Luscombe wrote: > Reducing the minimum wage will only reduce discretionary spending and further > erode consumer confidence. > > The economy sucks because of the last decade of focus on tax breaks for the > wealthy and pro-business regulation/de-regulation. Easy credit in the > 90's-00's means that the economy was artificially robust, and lower wages and > high debt load now means that the economy is artificially low.
The economy sucks because in real, constant dollar terms, wages and salaries for the bottom 80% of the american population have been stagnant for 30 years. The REASON we took on trillions in debt was in large part BECAUSE of that. -- Bruce Johnson University of Arizona College of Pharmacy Information Technology Group Institutions do not have opinions, merely customs -- You received this message because you are subscribed to the Google Groups "StrataList-OT" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/stratalist-ot?hl=en.
