Finally, someone with clout states the obvious. Trickle-Down, or Voodoo Economics, have never worked. President George Bush was right! The numbers state that since the 80s the middle class income levels have gone down, more manufacturing jobs have exited the country, and from 2007 to 2009 government agencies hired more than the private sector.
Starting in 2002 the size of the government expanded under the security needs of the nation - DHS. The Defense industry hired, more airport scanners and customs agents were hired, and a middle-class housing bubble fueled construction hires with secondary jobs created as a result. An obvious link can be made; when the middle-class housing bubble popped the jobs disappeared. The higher-income holders invested in emerging markets, not created jobs.
"They say you have to keep those tax cuts, even on the very wealthy, because that is what energizes business and capitalism," anchor Amanpour said.
"The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on," Buffett explained.
No comments:
Post a Comment