Most people agree that our country is at its best with a strong middle class. A lot of people call themselves "middle class". A lot of others say the middle class has deteriorated because the inequality of wealth has reached such absurd proportions. What constitutes the middle class?
How did our economy get such a strong middle class after WWII?
The answer is pretty simple. For a period of time we moved toward socialism
to redistribute the wealth. Tax rates for top incomes reached 90%.
They passed the GI bill and a lot of folks got college educations
(Think Obama's free community college). As a veteran, my dad was able to buy a
house with a mortgage rate that was under 2%. Unions were strong.
We redistributed wealth. Plain and simple.
Obama has proposed a redistribution of wealth again by
proposing higher taxes on the top 1%, and capital gains, etc
while giving families with children tax breaks along with free community
college. Some of us refer to my dad's age group as the "greatest generation"
isn't Obama trying to create another great generation?
How did our economy get such a strong middle class after WWII?
The answer is pretty simple. For a period of time we moved toward socialism
to redistribute the wealth. Tax rates for top incomes reached 90%.
They passed the GI bill and a lot of folks got college educations
(Think Obama's free community college). As a veteran, my dad was able to buy a
house with a mortgage rate that was under 2%. Unions were strong.
We redistributed wealth. Plain and simple.
Obama has proposed a redistribution of wealth again by
proposing higher taxes on the top 1%, and capital gains, etc
while giving families with children tax breaks along with free community
college. Some of us refer to my dad's age group as the "greatest generation"
isn't Obama trying to create another great generation?