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  • lugibrious lugibrious Jul 4, 2011 7:26 AM Flag

    If the middle class goes down on the

    Alter of greed, here is what will happen. I know you conservatives have trouble grasping a thought you haven't heard from Beck/Limbaugh, but i'll try again anyway. What the super wealthy would do is have production without any workers to suck up any profits. Unfortunately, without workers earning wages, there is no one able to buy the goods produced.

    We are well on our way to this situation. If you take homes out of the equation, the top 10% of the country controls 90% of the wealth goods produced. The rich then loan this wealth back to the rest of us so that we can buy the products of our own labor. Eventually this system has to crash.


    Much has been said about the paradox of thrift lately, but no matter how much of their 10% the bottom 90% spend, it won't compensate for the 90% of the savings by the 10%

    of the rich. Keynes believed that if the rich invested their savings, it would compensate for the loss of consumption, but it didn't work that way. When the rich invested in

    capital investments, it just automated factories and put more people out of work. When they invested in stocks, they created bubbles. When they loaned their excess back to us,

    the interest absorbed what little wealth we had and caused the system to collapse even faster.

    The only solution is for all of us - rich poor and political - to recognize that no one is worth hundreds of times more than anyone else. We need to adjust compensation systems, minimum wages and the tax structure to get money into the hands of people who will use it.

    We could solve our country's problems in a heartbeat if we went back to the tax structure in place during the Eisenhower administration - taxing the ultra rich 91% and spending it on infrastructure, energy and education.

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