Imagine I'm a "high-income/job creating" taxpayer, with a lot of cash sitting around waiting for an opportunity. I don't believe continued or additional tax cuts will convince me to: buy some land, build a factory, buy equipment, stock the inventory shelves, hire employees and then figure out what to make and sell. But, if the middle class started spending again and creating demand for products, I'd be inclined to see where I could invest to take advantage of the demand.
The rich will probably always get richer, and that's not a bad thing, but it can come about in more than one way. A couple are:
- Continue on our current course which is creating an ever increasing divide between the rich and everyone else, or
- Create opportunities for the middle and other classes to grow and fund programs to raise the poor out of poverty.
My preference, as you can imagine, is the second option. The rich will still get richer, but by sharing in the prosperity of the rest of us, not by feeding off of our financial demise.
Ps: The title is in reference to Bill Clinton's campaign motto "It's the economy stupid".
No comments:
Post a Comment