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willbeurdaddy -> RE: America's Shrinking Middle Class (7/24/2010 4:12:32 PM)
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quote:
ORIGINAL: hsimlexx
Wilbeurdaddy,
That redistribution you worry about has already happened. The wealthiest 1% doubled their share of wealth. You don't have to shed tears for them, they got theirs and those representing their interests are loving how 9% unemployment could last another 2 years. Whatever wealth the unemployed have is sure to be drained upward to the wealthy you are so concerned about.
Who said Im worried about the wealthy? They can manage quite well without my tears.
I was discussing the shrinking middle class, the subject of this thread, and it is the group that has the least representation in government and the deepest pocket that can be dipped into. (and "dipped" in the sense of pickpocketing is also a very appropriate term here)
It is simple math. When you redistribute wealth from any higher class to a less productive class, you slow economic growth. Due to the size of the middle class vs the wealthy, most of the redistribution must come disproportionately from the middle class as a whole. Take disproportionately more from the middle class as a whole and the middle class shrinks in overall wealth. The bottom end of the middle class falls out of the middle class and the middle class shrinks. Voila.
And back to the wealthy...since so much of the middle and lower classes' wealth is either spent or taxed, it is obvious that the wealthy will grow even faster, since they can invest and profit from the spending of the rest. However, the answer isnt to tax them more, but to have government consume less. When those dollars are put to productive use, everyone benefits.
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