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Strong middle class helps economy

5:04 PM, Dec. 23, 2012  |  Comments
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A beginning economics student knows increasing supply without a corresponding increase in demand results in lower prices and lower profits.

Therefore, lower taxes for the very wealthy cannot stimulate the national economy, unless there's a shortage of plant capacity, which is not the case. The only way to stimulate the economy is to place spendable cash in the hands of 150 million middle-income American households.

Next, American households must be confident the federal government won't destroy their health care and retirement. As soon as John Boehmer shut up about how bad the economy was, the economy began to improve.

When consumers consume, the wealthy make money. It shouldn't be hard to determine a lower tax rate on low profits will not increase wealth.

Integrity and ethics has nearly disappeared from government. Any legislator who pledges a low personal tax rate to a donor in return for a large campaign donation is taking a bribe.

The very wealthy have done very well the last decade, while the 150 million middle-income households have lost ground. That's the problem with the economy. It's time for the very wealthy to pay a bit more tax to help get us out of the mess the U.S. Congress has created.

Bob Moeller

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