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We seem to be bouncing from one economic crisis to the next. Thanks to irresponsible rogue corporations and the billionaires that run them, we are stuck in “Crises Economy” mode. The cost is born by low-income-families. Blaming families for falling income and falling consumer demand is a 21st Century “red-herring.”
Why are 85% of U.S. Families now classified as “Low-Income-Families,” when a decade ago most of these same families were firmly middle class? What caused this fall from economic grace? Better to ask, how do we fix our broken economy? Since this crisis centers on job loss, falling income and falling consumption, a reasonable starting point is to fix the problem of falling income, fast.
An obvious fix is a “Low-Income-Family-Supplement” program that would provide as much as 1,600 dollars per month for all tax-filing families in the lowest of the “Low-Income” range. Families on public assistance should also be included in this program even if they don’t file taxes. This would see consumer spending rise like a 4th of July rocket. To fill the increased consumer demand, job growth would also rise rapidly. And think of the “multiplier effect;” for every 1 dollar spent it could generate up to 10 dollars more for the economy.
If the problem is lack of consumer spending, give consumers something to spend instead of constantly reducing consumer income. It IS feasible for a private (non-government) agency to sell interest-bearing investment bonds that would generate $600 Billion a year to support a “Low-Income-Family-Supplement” program.
Such a “Victory Bond” program could save this nation, as did a similar program during World War II (1940’s). Make no mistake…we are in the midst of an economic war. For a more detailed fix for our broken economy see the book: “Cinderella’s Housework: Families in Crisis, Households at the Edge of Chaos!” By Paul Meinhardt, available soon on-line. email@example.com Continue reading
Here’s a recent comment posted to the New York Times about a book describing Experimental Philosophy. Carving out a niche for Philosophy has increasingly become an intellectual challenge. Congratulations to the pioneers in Experimental Philosophy…their lot is not an easy … Continue reading
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