If the tax money the rich were allowed to keep by Bush had been
invested in the Untied States of Denial, that would have created
more jobs, and we would not now see the decline in middle class
incomes or the resulting housing crisis.
But the rich, being smart, invested where they expected the best
return, China and India. And so, without the income, the American
consumer part of the global village green, is drying up.
Its classic machiavellian market thinking; each rich man thinks only
of where he can get the best return, oblivious to how this reduces
the income of the customer base on which his investments have made
money. If they could all get together, pool their resources, invest in
creating incomes for the customer base their corporations depend on,
there'd be more hope that the economy would stabilize.
http://www.arkansasnews.com/archive/2008/06/17/News/346702.html
shows HP is investing in Conway AR, a mid size middle class town. It
looks like a step in the right direction. But the small print shows a
number of subsidies the governor setup that have been reported to cost
the state 38,000$ for every $40,000 job created.
