I would like to know how the Democrats will fix the economy? Biden said that 1st they will restore the middle class. Sounds great I guess, but exactly how would Obama/Biden create out of thin air more Americans that make household income of, what, $50k to $75k? According to the Treasury Study of Income Mobility (google it) there is no missing middle class anyway. Most people probably have not stopped to thinnk about the mobility of Americans between income groups. We have huge mobility, unliike most other nations. We might move between several brackets in our lives. IF the middle class is shrinking, it is most likely becasue they have moved up into the upper class. But let's say for the sake of argument that the middle class is shrinking, since it has been ingrained in so many people anyway regardless if it is true. Obama's plan to lower taxes on most of the people is fine except that he plans to raise taxes on business and capital gains. Business taxes are rolled into the price of goods and services therefore WE pay them, and so our expenses go up, especially hard on the poor. Obama thinks he is soaking the rich by taxing higher the capital gains. What a great way to send a bad economy into the toilet. Higher cap gains means that investors considering any investment would have to be assured of a higher return just to play ball. That obviously means that fewer investments will qualify. New businesses and new hiring and expanding would be particularly risky and so those investments would not be made. This is not rocket science. But these are horrible ideas and what exactly would they do to "restore the middle class?"
Our population must have the worst education on earth in that we don't even teach our youth in any k through 12 anything about basic economics and thus at least half the people fall for idiotic ideas that will harm the poor and wreck the economy.
Delicious
Digg
Reddit
Newsvine
Furl
Facebook
Google
Yahoo
Technorati
Icerocket
I agree!! The democrats
I agree!!
The democrats cannot and will not fix the economy.
Neither will the republicans..
A lot of things, attributable to both parties, caused the mess.
No matter who wins, economic promises will be broken.
Without realizing it, most voters will pick their candidate based on social issues...abortion, personal freedoms, appointment of judges. Nobody really understands the economic proposal of either Obama or McCain. (and Palin, lord knows what she knows)