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Edited on Thu Mar-20-08 03:21 PM by Warpy
in other areas. For instance, he's right about inflation figures being about a third of what they really are and he's right about low interest rates contributing to the mess we're in.
He's wrong that the 4 3/4% maximum banks are allowed to pay on savings accounts would give people an incentive to save, even if they could find such a princely return, not when those people's wages have been held down for so many years with such a high inflation rate. When the return on savings is so much lower than the inflation rate, there is absolutely no incentive to save. When people's wages are being held down, there is no way for them to save.
He's partially wrong about high taxation on most people. He has totally missed the fact that the wealthiest are getting a nearly free ride, comparatively speaking, with the lowest tax rates since the pre Depression and robber baron eras. The people paying through the nose on taxes are people who work for a living. They're getting socked twice: higher taxes on wages as a percentage of median wage plus 40% of their OASDI contributions being robbed and used to fudge the books on all those tax cuts to the rich.
The high energy prices would not be as big an issue had Stupid not mismanaged the economy to the extent that the dollar has lost 55+% of its value.
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