magerette
Hedgewitch
- Joined
- October 18, 2006
- Messages
- 7,834
Calm down. Even if it ever passes, the bill's been whittled down to half what it was so it can continue keeping money out of the hands of the people who will spend it the fastest (those who have been unemployed > 24 months) on their mortgages, food and bills, thus keeping it out of the economy, thus keeping the recession/downturn continuing, thus making it easier for the repubs to make the other side look bad in November.
Word on the Hill is that the repubs are through with the recession; for them it's over and now it's all about strangling the dems in the midterms. You can see why that's the case in the snip below.
http://articles.latimes.com/2010/jun/11/business/la-fi-millionaires-20100611:
Word on the Hill is that the repubs are through with the recession; for them it's over and now it's all about strangling the dems in the midterms. You can see why that's the case in the snip below.
http://articles.latimes.com/2010/jun/11/business/la-fi-millionaires-20100611:
But if you're rich, who cares how the 'small people' are doing?Unemployment remains at near-record levels, and most Americans are struggling to rebuild their battered finances. But the country's wealthy are once again doing just fine, thank you.
No group was immune to the downturn. In 2008, as the financial crisis raged, the stock market hit bottom and the Great Recession ate into the economy, the number of millionaires in the United States plunged.
But last year the number of millionaires bounced up sharply, new data show.
And after that decline and rebound, the millionaire class held a larger percentage of the country's wealth than it did in 2007.
"It's been a recession where everyone took a hit — with the bottom taking a bigger hit," said Timothy Smeeding, a University of Wisconsin professor who studies economic inequality. But "the wealthy alone have bounced back."
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- Joined
- Oct 18, 2006
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- 7,834