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Tuesday, September 16, 2008

The Fundamentals of the US Economy are Sound....For the Rich!

As I was watching Million Dollar listing last night on Bravo! I couldn't help, but think about John McCain's statement that the Fundamentals of the economy are good. The show chronicles 7 and 8 figure properties being sold by young awful people. The real estate agents make six figures for basically getting someone to sign a piece of paper. Their job is no more difficult than any other agent's job, they just have the luck of being in an area where property is very expensive. 

It made me think, that in a time when the housing market is in the dumps, the fact that people are able to make millions of dollars selling houses means something is wrong. The ultra rich are doing extremely well. The fundamentals of the economy are great for the rich. They are making millions. Lehman Brothers, Merly Lynch, and the Macks have all declared Bankruptcy, but their CEO's got paid millions as severance packages and bonuses to run their businesses into the ground. Middle America gets screwed while the wealthy continue to prosper. It seems ridiculous that the dollar is worthless and property and assets are getting gobbled up by international investors, yet rich people continue to add wealth to their bank accounts. There is too large of a gap between the rich and the middle class. This gap is one of actual money and reality. The rich do not understand the middle class and most of America. Americans are struggling while the rich are laughing all the way to the bank. 

It begs the question: Is John McCain capable of understanding how bad the economy is? In his world I am sure he is making money. The people that he surrounds himself with are doing well. So when does he see the problems that most Americans see? The dollar will continue to fall and most Americans will continue to struggle, but the wealthy can continue to buy million dollar homes and luxury cars. 

Ross Park Mall is the local mall in my area. It has traditionally been your typical mall with Gap, Macy's, and American Eagle. In the last year, they have opened up a Louis Vuitton, Burberry, Nordstroms, Tiffany's, Juicy Coutre, Kate Spade, and Michael Kors. The mall is not in a rich area (Median income 57,886). If these are the kind of stores opening in areas that are not even wealthy, it tells you there is something wrong. The economy is in the dumps, yet luxury stores are opening in areas that are middle class. Makes sense? 

I don't want to hear anymore rich people whining about Obama raising taxes on people making over 250,000 dollars a year. These people are buying huge houses, throwing sweet sixteen parties, and are spending their money enough so that luxury high end stores can expand into new markets. It seems ridiculous that the rich are complaining about taxes being raised when everyone is struggling except them. Awwwww, poor rich people. They may have to wait until next year to buy that yacht or build that vacation home. Actually, they probably won't. The income tax, under Obama, will go up to what it was under Clinton over ten years ago. Money is worth a lot more than it was 10 years ago, so that increase is barely something that will make a dent on the rich. If people could afford it during Clinton, how the hell are they not going to afford it now? With inflation, the Clinton era's top tax bracket today works out to be substantially lower than it was then.

It is time the rich understand that people are majorly struggling right now. The fundamentals of the economy are not sound. Are we going to have to wait for the Europeans to come over here buy up all of our assets and property, then wipe their asses with the dollar bill before we agree that more people need to enjoy economic prosperity? Jesus Christ!!! I have said this a million times before, America is no longer number one. Read fucking A Post American World. The world is laughing at how shitty America is doing and all the rich can do is whine about paying a couple thousand dollars more a year in taxes. They will pay 15 million for a piece of property in the Hollywood Hills, but heaven forbid they struggle economically like the rest of us. As the rich prosper and go on as business as usual, the American way of life will crumble before their eyes. 

1 comment:

8 said...

please stop writing despressing posts