I AM DEPLORABLE.
NEVER CRIMINAL HILLARY (S-NY)
Now wage increases increase taxes paid to the govt. and any benefit is offset by the cost of those wage increases in terms of retail prices for goods and services.
You think the only benefit from a 10 million buck person, by the way how many is that and what percentage of our economy do those people affect, is in consumer spending but not creating investment capital or creating employment for people?
Welcome to the reality of spending cuts. They reduce GDP and can easily send us back into recession. This is news to you?
Still, the weakness may be because of one-time factors. Government spending cuts and slower inventory growth subtracted a total of 2.6 percentage points from growth.And those volatile categories offset faster growth in consumer spending, business investment and housing -- the economy's core drivers of growth.
Another positive aspect of the report: For all of 2012, the economy expanded 2.2 percent, better than 2011's growth of 1.8 percent.
I grew up in an upper lower class home and learned the value of hard work and personal responsibility. I went to public schools and got a college degree. Started out in the corporate world making $750 a month, worked hard, envied and learned from people doing better, emulated their efforts and benefited.
I never cared what someone else made and always celebrated success, never demonizing it. I never placed blame on someone else for poor choices I made. I always operated on the belief that I had a one year contract with my company and was looking for a job when I found the one I had for 35 years. I took control of my life and as a result benefited greatly.