The many right wing teabag tax protesters who are low income must realize how they don't really pay that much tax but they have been brain washed into thinking that they are low income because the rich are being overtaxed. If corporations didn't have to pay any taxes their wages would be higher. The reality of course is that few corporations pay any taxes and some even make a net gain from the public trough.
They also believe that someday they might be rich, not grasping the reality that they have half the chance of upward mobility of somebody born in socialist Sweden. They also believe that the rich would invest more if they didn’t have to pay any taxes. The really rich only pay an average of 17% income tax and no fica taxes. These morons are paying more on every dollar than the super rich now.
They should be protesting, they have every right to be angry. The protesters just don’t have a clue who they really are. They think that they are the upper class that is being repressed by the liberals in government. If the liberals would just go away then they would have the income they deserve.
And now the bad news:
March economic numbers indicate that Deflation is here with the first year to year drop in consumer prices since 1955. Some of this can be attributed to cheaper gas but this has not inspired Americans to drive more and they aren’t spending the gas savings with retail sales dropping sharply.
Manufacturing output fell in the first quarter by 20% with the factories that still remain in the US now operating at 69% of capacity. This is the worst number since the government started keeping track in the sixties. Increasingly companies are making no secret of the fact that they have no plans to bring back the jobs they are eliminating in the US.
The Federal Reserve Beige Book Report tried valiantly to paint a rosy picture of things but the best they could come up with was that home sales were up slightly in a few cities. Foreclosures are picking up dramatically with the end of the moratoriums that some of the large mortgage companies had in place.
Farm equipment manufactures that were a bright spot in the economy are laying off large numbers of workers with the flattening out of farm prices. Exports of farm equipment are drying up as the major US companies bring large factories on line in Brazil. Brazil is putting millions of acres into production that will replace US farm exports to China. A massive highway and bridge building project across Peru will allow Brazil to move a truck load of grain to Pacific ports every 17 seconds.
The only thing that everybody agrees on is that things will get worse before they get better, but nobody is really talking about the things that must be done to make things better. I saw an ad for a prefab chicken coop that you can put up in your back yard. It’s disguised to look like a cluster of garbage cans so that the neighbors won’t notice that you have something to eat. www.prairie2.com