Who benefits from the growing economy
Read this item from Washington Monthly that cites a Wall Street Journal news item showing how the administration's latest economic numbers indicate that the "growing economy" primarily benefits the wealthiest. It's from the Wall Street Journal, remember, not some "liberal rag."
Check it out.
Check it out.
posted by Jim at 7:51 PM
3 Comments:
Wow what a find! It turns out that the people who have the most money invested in the economy reap the greatest rewards. Very insightful
So if a strong economy helps the rich then the poor must get the shaft right? Nope, consider the inverse. If the economy starts the tank (like it did in 2000) then the poor benefit? Not really. I think this article points out that everyone benefits from a strong economy just some more than others.
You're missing the point. The middle class are benefitting little if at all. And I believe they make some money and pay taxes.
It's still relative, Jim. That is, relative to the level of one's productivity. The middle class don't have the same options as the wealthy naturally so that their benefits from a booming economy aren't felt as profoundly. But their job security might be much better and how does one measure that? I guess by how well the rich guy he works for is doing. But the benefits the rich experience is passed on by job creation as well. You really shouldn't envy the good fortunes of others. Try studying them instead and perhaps you can utilize something they've done.
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