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Author: anniesdad Big gold star, 5000 posts Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2015667  
Subject: Re: Low Income Consumers Are Hurting Date: 2/25/2013 8:51 AM
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The pay roll tax coupled with the rest of the prez failures to turn the economy around has hurt consumers, especially the lower income folks.


In the decades since the mid-seventies—you could call it the Reagan Republic, but I prefer the “Unwinding”—the social contract has frayed to the point of disintegration. The middle class has shrunk; tax rates (especially on upper brackets) have plunged; inequality has exploded; the safety net (especially for the poor) has weakened; the old power structure has given way to a more diverse and broad-based upper class based on education; bipartisanship—well, you know; and business culture has become entrepreneurial, fast, risk-taking, and harsh. The trade-off: more freedom, less security.

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Read more: http://www.newyorker.com/online/blogs/comment/2013/02/apple-...
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