The subject today is the great American Middle Class. The latest election results and the subsequent de-railing of the US President's plans proves one point conclusively.
Healthcare: Shooting one's own foot
"The US Middle Class has mastered the art of shooting itself in the foot by consistently voting against it's economic interests". The clamor over the health plan and few other spending deals only show how deeply entrenched this tendency is. It is pitiful to see the US from outside....pathetic...The chart below shows that the US has done well when taxes were at higher levels. As greenspan said in 1987, higher taxes if structured correctly cause wage infaltion and help for provision of services.