A Rising Tide That Threatens to Drown the Middle Class
A new research paper
Inequality and the Deficit
Stephen B. Cohen
Georgetown Law and Economics Research Paper No. 11-13 Georgetown Public Law Research Paper No. 11-101
documents the rising income inequality in the
. Here are just three critical tables from that paper. United States
Why is this important? Because without higher income accruing to middle income families, the increase in consumption necessary to drive investment, economic growth and lower unemployment will not take place.
And how exactly will fiscal contraction and decreases in the taxes for the wealthiest Americans and Corporations in the "Gang of Six" Plan help this problem?
Some questions have no answers, and therefore should not be asked.