Re: [OT] USA Elections
- Posted by mattlewis (admin) Nov 05, 2012
- 2807 views
My argument is simple: As an example of what you are saying, the Bush tax cuts resulted in a concentration of wealth - instead of a trickle down effect that was expected to benefit the middle class.
So the middle class didn't benefit from a recovered economy? What do you suppose wealthy people do with their money? They invest it. The Bush tax cuts also removed a lot of people at the lower end from paying any federal income tax. That a high earner who paid more in taxes than most people earn got a larger tax cut isn't an outrage, but simple arithmetic.
And it's decades of such compromises that have created the fiscal cliff.
Uh, really? I thought it was the direct result of a narrowly avoided government shutdown.
But why was there a possibility of a shutdown to begin with? Because people were starting to question the fiscal soundness of US sovereign debt (fortunately for us, with all of our problems, we still look a lot safer than the rest of the world). You can only kick the can down the road so many times before bad policies ripen.
Matt
