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View Diary: "A rising tide lifts all yachts." (8 comments)

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  •  Rising tide does lift all boats (0+ / 0-)

    The problem is that in economic terms, a "rising tide" would be something like raising the minimum wage, or health benefits for all, universal health care, unions, etc.   The idea behind the "rising tide" is that trying to raise the standard of living of those at the bottom helps everyone rise up.   For example, raising the minimum wage means people who are living in poverty (or teenagers with expendable income) will have more money to go out and spend, which means more money going back to businesses which means a better economy and more money for the higher classes.

    But there hasn't been ANY rising tide. Instead, the rich have been doing everything they can to prevent the tide from rising by channeling tide waters into their own private lakes.  So everyone else is grounded and/or looking at a drought while the wealthy are laying sandbags to keep what they feel they deserve and shouldn't have to share with anyone else.  They took it fair and square they think.

    •  Rosencrantz - a rising tide (0+ / 0-)

      In economic terms "a rising tide" is NOT about raising the minimum wage, or any of the other examples you list. It is about strong GDP growth which can have a broad impact on the overall ecomomy, improving the economic health of all sectors. It is not about targeted programs to help the less fortunate (which I support). They are really different concepts.

      "let's talk about that"

      by VClib on Fri Oct 01, 2010 at 07:59:07 AM PDT

      [ Parent ]

      •  I respectfully disagree. (0+ / 0-)

        GDP has long ago proven to be a terrible indicator of how regular people are doing.  But using that measure, I would strongly agree with the original article that GDP is certainly rising all yacths.  I would argue that GDP is nothing close to a "rising tide" because it is leaving people behind and the rich are getting richer while more are falling into poverty.

        If you want to "rise the tide" you need to rise everyone.  And that rarely happens.  Instead politicans continue to think trickle down economics work when they don't.  Trickle down isn't a rising tide, it is water rationing and those living lakeside get first dibs while everyone else gets a small trickle.  

        •  A rising tide (0+ / 0-)

          I agree that in the US a rising economic tide doesn't lift all boats in an equal fashion. However, we were talking about the meaning of the term "a rising tide". It is also true that it is very difficult to lift those at the bottom of the economic ladder in a slow growth or concracting economy. It is much easier to put in place public policies to increase the share of an expanding economic pie for the less fortunate than it is if the economic pie is shrinking.

          "let's talk about that"

          by VClib on Fri Oct 01, 2010 at 08:43:17 AM PDT

          [ Parent ]

    •  It's about raising incomes for more people (0+ / 0-)

      At least that's Chris Farrell's argument. More and more people trapped at the bottom leads to long-term problems for the economy and the nation.

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