Thursday, December 04, 2008

The Great Trickle-Down Pyramid Scheme

"...when we look around, we can see that the Bush administration leaned on the middle class and expanded the poor while giving more money to the top tier. Predatory lending (among other things, including declining home prices and lower wages) caused working middle class families to be unable to pay their mortgages. Mortgages were foreclosed, etc. etc. A classic feedback loop.

So giving more money to the rich isn't working. You give money to the rich, sure they may create jobs, or they may just do something else with it. Send it overseas. Buy a boat. Take a rocket tour of space. Greed got them where they are, and they're not going to let a penny of that money "trickle down" unless they know they're getting a large return on their investment. Which means, yes, they may create jobs, but they will be exploitative, either not paying enough or lobbying for the 60 hour work week or some other greed-based thing."

- Mark Kuykendall on Change.gov

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