Quote:
Originally Posted by mpholland
I guess to simplify my thoughts, i believe we pay too much for what we get in return. If they would just cut the waste and make everyone pay a fair share we could do it for much less harm to the middle class. The economic cycles seemed to be fairly stable before the Reagan era when the wealthy paid 50%. I don't think the rate that the wealthy are taxed has jack shit to do with stimulating the economy. Now that they are only taxed at around 35%, the economy has been in the shitter for years. This is not part of the natural economic cycle.
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I concur.
I remember my high school economics teacher (Late 1970s) telling us that high end investors (Read; ultra-wealthy) tend to dislike Keynsian economics because the lack of volatility in the markets makes for humdrum returns. A steady 3% return over ten years is not very exciting, but a 200% return over week is. Problem is a volatile market usually means wildly fluctuating job market and chaotic financial conditions at the lower economic strata.
Looking back at the intervening years, I'd have to say he was spot on.
Dave