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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 374.94+0.2%4:00 PM EST
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ggersh
To: John Vosilla who wrote (113191)9/5/2015 2:03:59 PM
From: Elroy Jetson1 Recommendation  Read Replies (1) of 217868
 
Builders are creating product for the ultra high end because those are the customers who can afford to buy.

In an economy where most income and wealth growth are now collected almost exclusively by the top one percent, they are the primary customer.

This is why Ronald Reagan reduced income tax rates by 2/3 on the top one percent, and by very little for everyone else, while increasing payroll tax rates.

The tax cuts for the wealthiest Americans were funded with the proceeds of the Social Security and Medicare payroll taxes on people who work.

Having spent working people's retirement money on income tax cuts for the wealthy, we're told we can no longer afford to support elderly Americans.

Really? At what point are you willing to call time-out on this disastrous tax policy and reverse course? When your grandchildren live in mud huts tilling their Overlord's farmlands?

The Middle Class was largely an artifact of the progressive income tax structure required to pay for World War II. Australia and Europe still have a strong Middle Class which is not on the ropes - and their tax policy is pre-Reagan.

Ronald Reagan's changes to tax policy has proved the Middle Class doesn't have to exist.
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