The Global Economy

It amazes me that no one seems to have a clue as to why the economy is falling apart? We have seen this before, back in the 1930s.

Too much wealth was accumulated by the top 5-10% of earners, so there was no more money left in the rest of the population. Everything fell apart with a massive depression, and then recession after that. Duh, it's exactly what we are seeing now.

So what did the world's governments do back in the 1930s? They raised taxes on the rich, to the tune of 90% of income for some. I don't propose anything so draconian now. We wouldn't want their private tennis courts to go un-striped.

Just a bit more, like 5-10%. The middle class can afford a bit more too (the ones that have jobs). What people don't seem to get, is balancing the budget does NOTHING to pay down the debt. We need a surplus, not balance. "Revenue Neutral" policies guarantee complete failure.