I have poor siblings, and acquaintences, and almost all of them are lacking in work ethic and/or ambition.
OTOH, those that get hit in the face with things beyond their control, those are the ones we should be helping first to get back on their feet, back to paying taxes again...
Oracle of Utah
Truth rings hollow in empty heads.
this (notso)great recession was not caused by a boom fueled by artificially low interest rates, greed and failure of public regulation in your view, only the uncertainty of government legislation, increasing taxes and healthcare legislation
let's look at the logic of your surmise
the recession was underway before the health care bill was even being pondered. and its financial impact on business has not yet been felt
taxes are lower than they have been in a half century, causing one to wonder why tax rates are of such heightened concern to businesses
and what federal regulation is on the horizon which would have significant financial implications for business ... and what are those financial implications which are so feared
I'm not sure if the numbers in the OP's article are accurate.
Since the mid 90's, the top 10% (incomes over $113k) have earned between 40 and 48% of all income in the US. At the same time, the top 25% (incomes over $66k) earned between 63 and 68% of all income in the US.
The Tax Foundation - Summary of Latest Federal Individual Income Tax Data
It doesn't seem possible that now the top 20% 1) is only those making over $100k, and 2) only earned 49% of all income.
People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.
I read this the other day and thought it would pertain to the topic.....
The widening income gap threatens the stability of our democratic capitalist society. And that was Alan Greenspan talking in 2005.The United States has one of the widest rich-poor gaps of any high-income nation today, and that gap continues to grow. In recent times, some prominent economists including Alan Greenspan have warned that the widening rich-poor gap in the U.S. population is a problem that could undermine and destabilize the country's economy and standard of living stating that "The income gap between the rich and the rest of the US population has become so wide, and is growing so fast, that it might eventually threaten the stability of democratic capitalism itself".
Rich-poor gap gaining attention / The Christian Science Monitor - CSMonitor.com
Standard of living in the United States - Wikipedia, the free encyclopedia
Last edited by Moot; 09-28-10 at 02:47 PM.
your positions do not reconcile with the facts
we are at a point where the tax rate is extremely low, when compared to rates over the past half century
if it were true that low tax rates resulted in low jobless rates our economy should not now be in the midst of a great recession