Wednesday, March 18, 2009

Who's the Driving Force of our Economy?

Berni Madoff should be hung. Here it is--the guy sat on house arrest in his penthouse, given plenty of time to funnel his money into offshore Swiss bank accounts (don't get me started about the Swiss, they're up shit's creek with all of this offshore money storing), and it took forever to prosecute him.

Then you had those automotive CEOs flying in their private jets to ask for more bailout money.

Then you had the corruption on Wall Street.

Next, you have AIG execs getting awarded $73 million dollars in retention bonuses (some of them didn't end up staying with the company btw), and this money came out of the bailout money being paid by us the taxpayers.

Are the wealthy driving the economy like many have been arguing for years now?

Uh, no.

The wealthy have been finding ways to protect their money, and benefit from tax cuts, credits and loopholes--eroding the stability of the US economy. Now, they're screaming "socialist" because someone's trying to change the game, and give assistance to the true drivers of the economy--the working class, the Middle Class. If we the Middle Class can't pay our bills and stay out of debt, the economy tanks. Businesses that depend on consumer dollars (which is most businesses) shrivel up and die if there are no consumers. And there's only so many millionaires and billionaires to go around. It's the Middle Class that keeps the thing going.

So if you cut wages, outsource jobs to China, Cuba, Mexico, India and Hell, and you enslave consumers with shady entrapping loans and credit resources, you siphon off the spending power of the all-important Consumer, thus leading to an economic collapse.

Where did I get this economic theory from? Life in the U.S. of A.

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