I'm a relative newbie to this site. Posted the message below on a "blog" but it might be more appropriate here. (I'll learn....)
I caught only a little of today's show, but my ears perked up when the subject of taxes for high-income earners was discussed. I'd not previously heard the proposition that raising taxes for small business owners benefits the economy, and boosts employment, as people tend to invest more in their business when tax rates are higher. Makes eminent sense.
Speaking of highly paid individuals, a friend sent a link to a Bloomberg piece reporting how wealthy folks tend to save "excess" income, rather than spend it (boosting the economy, as Republicans maintain). That, too, makes visceral sense; saving is how the rich get richer, and that certainly is the trend we've witnessed in this country for the past 30 or 40 years. Here's the piece:
On a related note, an editorial in Saturday's LA Times (first link below) cites a CIA report (second) that documents that, while 41 countries have greater income inequality than the U.S., many more do not. Of course in that first bunch are sub-Saharan fiefdoms, banana republics, teeny island natons and other countries we would not, I think, aspire to emulate in this, or any other regard. Doing better than us are all the first-world industrialized countries, and topping the list (i.e., the least inequality) are Norway and Sweden.
It boggles my mind that the majority of Americans have an inkling that their lot in life is getting worse, but refuse to understand who's responsible -- and vote repeatedly against their own best interests.
Thanks, Thom, for your excellent work spreading that, and many other Good Words....