As spending by wealthy weakens, so does economy

USFREEDOM911 said:
But it would benefit them; plus you should publish locally what you own, so that someone who is lacking would know exatcly where to go to better themselves.
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That is one possibility, however, knowing who requires assistance, dividing the resources among them and other logistical considerations it makes more sense to centralize it by having the government do it.
 
apple0154 said:
If you'd ask a direct question I'll give you a direct answer. If you simply state an opinion I'll address it as such. Of course, after informing you of that you reply with an insult and still omit posing a question.

So, do you care to try again?
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Why??
So you can continue to spin in circles?

NAH, I'll leave you to your own amusement. :good4u:
 
apple0154 said:
That is one possibility, however, knowing who requires assistance, dividing the resources among them and other logistical considerations it makes more sense to centralize it by having the government do it.
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Why get the government involved.
Just follow through on the publication and allow those who show up to have what they "need".
 
apple0154 said:
:rofl: Accuse me of not answering a question when you have not asked one and then refusing to ask when I request you state it.

You're a joke.
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And you're nothing more then someone who wants to take a subject matter, start spinning it to something you're more comfortable with, and then running from the subject that was first brought up.
You've done this before and you're never going to change.
 
apple0154 said:
But how will I know what they need? I don't have the information. The government does.
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Why do you have a right to know?
Why can't you trust the person saying he's in need?
And what makes you think the Government is going to do the right thing, unless you mean exactly like the pressure they put on somone recently and making them resign?
 
Yurt said:
As spending by wealthy weakens, so does economy

WASHINGTON – Wealthy Americans aren't spending so freely anymore. And the rest of us are feeling the squeeze.

The question is whether the rich will cut back so much as to tip the economy back into recession — or if they will spend at least enough to sustain the recovery.

The answer may not be clear for months. But their cutbacks help explain why the rebound could be stalling. The economy grew at just a 2.4 percent rate in the April-June quarter, the government said Friday, much slower than the 3.7 percent rate for the first quarter.

Economists say overall consumer spending has slowed mainly because the richest 5 percent of Americans — those earning at least $207,000 — are buying less. They account for about 14 percent of total spending. These shoppers have retrenched as their investment values have sunk and home values have languished.

In addition, the most sweeping tax cuts in a generation are due to expire in January, and lawmakers are divided over whether the government can afford to make any of them permanent as the federal budget deficit continues to balloon. President Barack Obama wants to allow the top rates to increase next year for individuals making more than $200,000 and couples making more than $250,000. The wealthy may be keeping some money on the sidelines due to uncertainty over whether or not they will soon face higher taxes.

The Standard & Poor's 500 stock index has tumbled 9.5 percent since its high-water mark in late April. Home values fell 3.2 percent in the first quarter, according to the Standard & Poor's/Case-Shiller 20-city home price index.

Think of the wealthy as the main engine of the economy: When they buy more, the economy hums. When they cut back, it sputters. The rest of us mainly go along for the ride.

http://news.yahoo.com/s/ap/20100801/ap_on_bi_ge/us_wealthy_cut_back

explain to me again how taxing the wealthy more helps the economy....
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This article is nothing but Keynesian horseshit. The rich are not spending because of the underlying economic problems. The article confuses a symptom as being the cause.
 
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