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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: rich4eagle who wrote (162629)	7/20/2001 12:55:17 AM
From: Little Joe	Read Replies (1) \| Respond to of 769670

rich: “Additionally, each country especially those of great wealth must ENSURE THAT WEALTH DOES NOT BECOME TOO CONCENTRATED INTO A FEW HANDS such that the class structure evolves into poor and very rich.” I agree with this sentiment and there are economists who have attributed the great depression to this phenomenon. “My concern is that "trickle down economic policies" tend to destroy the middle class and burgeon the poverty class and the net sum result is economic disaster. Additionally, some of the things that have created the large middle class are under great attack in the US “ Here I am not sure you are right. If we have had trickle down economics for the last 20 years, I am not sure the middle class has been hurt. There are many middle class millionaires in this country who benefited by the economic policies of the last 20 years, under both dem and rep leadership. Read “the millionaire next door” a great book. Of course on the other hand a lot of middle class people are one paycheck from disaster. However this is often due to their lack of ability to control spending. Maybe we can further the discussion by seeing if we can define “trickle down economics (TDE)” I assume that you would agree that Reagan and Bush practiced “trickle down”. Did Clinton? If not how was he different? What tag name can we give his economic policies if not trickle down. How exactly in your mind does “TDE” widen the chasm between rich and poor? My view is that if we have a depression it will be caused by excessive credit expansion and upheaval in the currency markets. I think inflation will be the government antidote and we will not see depression, rather we will see much higher inflation, which will be good for debtors and may help to stabilize currency markets as the dollar could be too strong. Little joe

To: rich4eagle who wrote (162629)	7/20/2001 1:56:11 AM
From: ManyMoose	Respond to of 769670

I agree with you on this, Rich. The US has a large and relatively prosperous middle class, which is the cornerstone to our success. I don't see how you make this conclusion, however. "trickle down economic policies" tend to destroy the middle class and burgeon the poverty class and the net sum result is economic disaster. Additionally, some of the things that have created the large middle class are under great attack in the US Making more people richer doesn't hurt the middle class at all. They all spend money that the rest of us earn by working for them.