Quote:
Originally Posted by AtomicLabMonkey
That "lesson" isn't exactly new, I've seen this piece of propaganda go around the e-mail loop at least a dozen times in the last decade. Always from hardcore conservatives who think the answer to any problem is to cut taxes for the wealthiest people in the country.
Oh, and an increase in inflation isn't just something that might happen, it's already happened. The price of food staples like milk, eggs, meat, etc. have all gone up 20-30% in the last year. Anyone else been looking at their grocery bill and wondering why it seemed so damned high these days? You're not just imagining it, things really are more expensive now.
Dollars to donuts it just gets worse, because our currency is sinking like a lead balloon and the Fed doesn't seem to be interested in anything but continually cutting interest rates.
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Up 20-30%??? According to who? Certianly not the
CPI.
The weak dollar is not bad for the economy. This is a common fallacy. It is likely that the weak dollar is going to save us from the current slowing economy by increasing exports, as well as foreign investors saving our struggling financial institutions and investing in our real estate market.
And the largest TAX issue right now in the US is not taxing the rich, but small and large businesses taxes. The US has one of the highest corporate tax rate vs. European nations and small business are taxed at the same rate as individuals. This is ridiculous. This is part of the reason employers can't afford health care plans for their employees and why small business are getting crushed. Why would anyone want to own a business or invest in the US when it is more expensive to do business here unless the dollar was ridiculously cheap and/or the companies were on sale.
Welcome to the world economy. Be glad it is here to help, or we would be headed for a depression, not just a slow down or mild recession!