The NYTimes misses the fact its the policies of spend like hell, and tax like hell with a progressive system is a massive cause of the destruction of the middle class. When our central bankers devalue the hell out of the dollar... our tax payers are caught in progressive taxation hell.
We have had thousands or percent inflation. Nickel beers in N.Y. bars are not 7 to 10 bucks.
When you combine that kind of systematic inflation with progressive taxes and a big death tax... you will wipe out your tax paying class in 2 generations.
So you either got to the top .1 percent or so and purchased real estate and banks and companies... or you are doomed by the very policies the New York Times is the head cheerleader for.
Its sort of disgusting is it not.
http://www.nytimes.com/2014/04/23/u...ass-is-no-longer-the-worlds-richest.html?_r=0
The American middle class, long the most affluent in the world, has lost that distinction.
While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades.
After-tax middle-class incomes in Canada â substantially behind in 2000 â now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans.
We have had thousands or percent inflation. Nickel beers in N.Y. bars are not 7 to 10 bucks.
When you combine that kind of systematic inflation with progressive taxes and a big death tax... you will wipe out your tax paying class in 2 generations.
So you either got to the top .1 percent or so and purchased real estate and banks and companies... or you are doomed by the very policies the New York Times is the head cheerleader for.
Its sort of disgusting is it not.
http://www.nytimes.com/2014/04/23/u...ass-is-no-longer-the-worlds-richest.html?_r=0
The American middle class, long the most affluent in the world, has lost that distinction.
While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades.
After-tax middle-class incomes in Canada â substantially behind in 2000 â now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans.