Re: Explaining Why Federal Deficits Are Needed[W:5330]
Originally Posted by JohnfrmClevelan
Nobody is "going after" the one-percenters. We are trying to help the 90%-ers. That includes you and I, so you might want to open your mind on the subject.
If you serve the rich as a yacht polisher or whatever, your customers can afford to pay more. But that's not even the big picture. The working class, whether you believe it or not, does most of the spending and consuming in our economy. Their income churns at a far higher rate than that of the rich. The majority of businesses - grocery stores, gas stations, car repair shops, retailers - absolutely depend on working-class customers coming in and spending their wages. More working-class wages means higher demand, and higher demand means more commerce, and more commerce means more jobs and overall growth. A $10,000 raise for your worker would result in far more than a $10,000 increase in commerce, probably closer to $20,000 or $30,000. Our economy was far more vital when labor commanded a larger share of the income pie.
You are looking at things from your own tiny point of view. You are but one business. You might fail, but 100 other businesses would prosper, and that is a change that any economy should look to make. Today's economy is not vital. The labor market stinks, opportunities are not there like they used to be, etc. Why you want to preserve the status quo is beyond me.
Well, if I'm a 90%-er and you want to help me, then why are you so ok with putting me out of business?