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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (687703)12/10/2012 3:49:52 PM
From: combjelly1 Recommendation  Read Replies (1) of 1578615
 

Why are you conveniently ignoring the time before 30 years ago, which represents the full trend?


You can't directly compare earlier years because lots of changes were made. A deliberate choice was made during the Great Depression to narrow the gap between the wealthy and everyone else via tax policy and regulations. And it worked, we had a vibrant middle class as a result of those policies. However, starting in the mid to late 1970s, we started to roll back those policies. And the middle class started its decline and income and wealth shifted upwards. Every recession we have had since then, the recovery has been slower and weaker than the preceding ones because most of the consumers find themselves in an increasingly precarious situation.

But, despite your claim, this is not inevitable, but an outcome of policy. If you want a 3rd world type economy where the vast majority of the wealth is concentrated in a relatively few hands with a small middle class and a large lower class with a lousy economy, keep the present policies in place and we will get there. If you think a strong middle class with a growing economy is better, we know how to do that. The Koch brothers won't like it, but...
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