Sobering thought - and yet another consequence of trickle-down or supply-side economics. The number of Americans who classify themselves in the middle class has never been lower. Testament to this are the dismal sales results from stores who made their entire century-long fortunes on catering to the middle-class: Sears, Penneys, and the like. You know who reports the hugest boom in sales for the quarter ending 3-31-14? Tiffanys Saks Fifth Avenue Barneys New York and The Dollar Store Dollar Giant Dollar General Wal-Mart those who cater to the wealthy, who have never had more disposable income, and to the poor, who can afford only the very basics, and a lot of the time, not even those. This is not the America I grew up in. We need to raise taxes on folks like me in the upper-middle who can afford it, and raise taxes a lot more on folks who make 20 times what I earn who can hugely afford it, and raise taxes exponentially more on folks who are sitting at the top of the pile, earning tens of thousands or even hundreds of thousands of times what the average American earns, who wouldnt even notice if their accountants didnt bring it to their attention, and legally (quite legally) paying a much lower percentage of their income in taxes than John or I do. We need to get back to defining the success of our society not by how much the very richest have - but by how we treat and care for those who, through no fault of their own, have fallen by the wayside of the American Dream.
Posted on: Mon, 07 Apr 2014 15:33:58 +0000