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Old 01-17-2009 | 10:00 AM
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ryan1234
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From: USAF
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Originally Posted by Kilgore Trout
Look around, the entire US economy's backbone has been broken by cheap labor, and unfair overseas trade policies benefiting few except, for yes, the "fat cats".
I don't believe that our new incoming administration has suddenly embraced the idea that the poor are the engine that drives our economy, only that many people in that incoming administration are cognizant of the damage done to the American middle and lower classes by some "globalization" policies and are trying to set up some damage control. I also believe that "the poor" are a convenient scapegoat for what truly ails the U.S. economy right now. That's what I think anyway. Take it for what it's worth.
Kilgore... it is just my humble opinion... but a large portion of the failure of the U.S. economy is based on those ideals that capitalized on the gullible poor, in reference to sub primes, etc. The vicious circle of politicians bribing the poor for votes, futher creates a larger poorer class. While it may appear to some that I'm wearing my shiny new tin-foil hat... I would argue that cheap labor causes corporations to be able to sell products in a weaker market they wouldn't otherwise be able to do, and perhaps if the tax burden was decreased, less outsourcing would happen, and futhermore, foreign businesses might be attracted to the U.S. to create more jobs. The U.S. corporate tax burden is staggering, and many corporations have done the necessary to stay afloat. Many speak of fat cat "bonuses"... those "bonuses" (whether for an upper or middle class) are taxed around 40% alone (not to mention the corporate tax itself, payroll tax, etc)... those bonuses are a bonus for politicians to bribe the degenerate public with items that do little good. This is the circle Alexis de Tocqueville described as being an end to our Republic.
The letter seemed to be talking of a small business owner (i.e. provided 14 good paying jobs). Somewhere in between the irresponsible lower class and the greedy upper class, these people shoulder the burden of the U.S. Economy. This isn't to say there aren't ways around taxes for small business (i.e. S corp, LLC, LLP, etc).
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