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#1
03-03-2009, 12:56 PM
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I think that very few of the economists are pointing to the real problem here which is a declining middle class. Wages have consistantly dropped compared to cost of living over the past 30 years. The way most middle class families have sustained a "middle class" lifestyle is to run up their debt. It is easy to say "live within your means", but that would mean an end to the middle class, as the majority of Americans would fall below what we consider "middle class" today.
All the other problems such as the housing crisis, banking crisis, credit crisis, etc....they are all a result of this issue. And thus, anything short of addressing this issue will be a temporary bandaid on the real problem. People all scream about "income redistrubution" -- and that is why the politicians are affraid to really take on this issue. But you won't have any income to redistrubute if this problem is not addressed. We'll see what you think when the DOW is at 4000, or maybe 2000. Don't worry...it is coming...that much is for sure. They should forget about raising the income tax rate, or other trivial stuff like that. They should eliminate all income and sales taxes, and impose a flat wealth tax -- everyone pays the same rate. Something similar to how you pay property tax on your home. Next, they should impose a 30 hour work week on all business, except those with fewer than 25 employees. A few changes like that will go a long way towards fixing the problems. Not this idiotic spending bill, that while helpful, will not fix any problems long term.
__________________
 my experience on X5world when I spend too much time posting in political threads in the lounge... 
Last edited by Eric5273; 03-03-2009 at 01:01 PM. 
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#2
03-03-2009, 12:59 PM
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oh boy. Whatever happened to personal accountability? You failed to mention this. Living within your means would mean the end of the middle class? That really makes no sense to me at all. What about taking pride in what you have and being accountable for your own actions? Doesn't that mean anything to you? Running up debt to keep up with the Jones family is crazy. Blaming that on others is well, incredibly naive sounding. I'm not talking about banks doing the wrong thing as far as lending practices, just focusing my comments on personal accountabililty.
Last edited by X5rolls; 03-03-2009 at 01:05 PM.
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#3
03-03-2009, 01:02 PM
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Quote:
__________________
my experience on X5world when I spend too much time posting in political threads in the lounge...
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#4
03-03-2009, 01:06 PM
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I take it that you don't believe in personal accountability then.
Got it. I just read your additions to the previous post. Flat tax on wealth, 30 hour work week - I'm convinced you are a socialist at heart but if you think that is going to fix the stock market I don't think undersand how business works. Your recommendation will essentially kill business - then what happens to the DOW? But you probably already get this and are looking for another extended argument. Don't have time for it today. Good luck with that view. Quote:
Last edited by X5rolls; 03-03-2009 at 01:11 PM.
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#5
03-03-2009, 01:08 PM
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Quote:
__________________
An unwavering defender of those I see worth protecting. "promote the general welfare, not provide the general welfare" We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.
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