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View Diary: Business Owners speak: Tax Cuts don't Create Jobs -- they Create Deficits (137 comments)

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  •  Unfortunately (3+ / 0-)
    Recommended by:
    jamess, taonow, mrkvica

    this will be on the backs of the most vulnerable. Whatever the remedy, the system of recovery will look like something Paul Ryan devised. Much of what the "pulling forward" was the attempt to keep our standard of living in the face of stagnant wages. First was the entrance of women to the workforce that helped keep a family in the middle class by adding wages, then borrowing through credit and against assets.

     Much of the blame goes on the people who borrowed, but I looked into refinancing a mortgage and the financial instruments the bank offered were the same ones people now get blamed for taking. A fixed rate refinance wasn't even offered.

     

    •  Dealers (1+ / 0-)
      Recommended by:
      sentinalnode

      Its a bit like the drug dealer that sells marijuana and then one day has a sale on heroin ("free", try this) . Not surprisingly he soon has a more regular clientele of junkies.

      Its the same thing for low interest rates. They are economic heroin, and about as tough to break as an addiction (very seductive, and very dangerous).

      "I can live with doubt and uncertainty and not knowing. I think it's much more interesting to live not knowing than to have answers which might be wrong". Feynman

      by taonow on Thu Apr 07, 2011 at 05:56:00 AM PDT

      [ Parent ]

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