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Retail sales show impact of our fiscal policy

Retail sales show impact of our fiscal policy



For some time, I have been documenting the fact that the results of our economic policies has been that the wealthy are the BIG winners. The poor have gotten nothing to speak of from the current policies and the middle income American received some help but it is mixed and very moderate. The last data I saw showed median tax cut was $427 per year or about $1.25 per day. Recent increases in gasoline prices alone have used up that amount!

This week most of the retail sales giants reported their sales and they clearly document my contention that the distribution of benefits under our economic policies are in favor of the wealthy. Chains that low and middle income worker frequent such as Wal Mart, Target, K Mart reported disappointing sales results. Retailers at the high-end all exceeded their sales targets and did extremely well during the first two months of 2005. The policies we are following have been designed to do exactly what they are doing. I have to give George W. Bush credit. He set out to redistribute the wealth toward the top 5% and has surely accomplished that goal.
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Reply #26 Top
Gas prices can be blamed more for a drop in sales than anything else right now. Gas prices hit us in the pocketbook at more places than the pump. Gas prices influence the cost of shipping goods across the country to retail outlets, forcing outlets to raise prices to maintain profit levels (note I say to maintain, not to elevate). Airlines are looking to put on a fuel fee again to offset costs. This will have a drastic impact on the cost of flying and will then obviously price it out of the range of lower income people. Is this a Bush policy fault? Not really, it's an issue of the oil market and rising prices.

Not all economic shifts are due to nefarious plots to reallocate wealth to the wealthy. The wealthy have more money, that's an obvious fact, so when prices go up on products for any reason, be it policy, shortages, whatever, of course they will continue to be able to purchase while poorer people will not.
Reply #27 Top
Do not let the evil fiend Dr. Miller deceive you; he coined the phrase the rich get richer and the poor get poorer.


"Rich get richer

IRS says growing wealth for 400 top taxpayers outstripped increases in their tax burdens.
June 26, 2003: 12:43 PM EDT



NEW YORK (CNN/Money) - The rich got richer in 2000, according to a study by the Internal Revenue Service released Wednesday night."







Reply #28 Top
drmiler and island Dog

Data from many sources confirms the shift in the tax burden and the impact of the Bush fiscal and tax policies. For example, almost half of the tax cuts go to less then 5% of the population. The last tax cut to take place, the Estate tax which ends in 2010, impacts 6/10 of 1 % of the population. Wages for the middle income workers have for the most part not increased during the past four years after inflation,. Only the top %5 have shown a after inflation/tax increase in their income. The average benefit from the tax cuts is about $427 per year ($1.25 day). The percent of tax revenue from income taxes has shifted to a greater share comming from the middle income tax payer and a lesser amount from the top 5%. That was the intent of the Bush tax cuts which was to shift the after trax wealth from the middle to the top income American. Thus, Bush has shown by his tax policies that he is Robin Hood for the Rich. (Took from the middle income and gave to the top income Americans). At the same time he is making the rich richer, the federal deficit increases. We are in effect borrowing money to give people who do not need more money a tax cut! WHO WILL REPAY THAT ADDED DEBT AND WHO WILL PA Y THE ADDED INTEREST ON THIS CONTINUED BORROWING? You can go to Google and look at the debt clock that shows how we borrow more and more every second of every day under the policies of Bush! Bush NEVER shows that increase in the debt ends! This added intetest will take the money needed for EVERYTHING else in the future!
Reply #29 Top
The conservative circle jerk at Joeuser just cannot accept that they are no more than cogs in the rich man's money-machine. How is it that you swallow hook line and sinker the capitalist-pig’s propaganda in which man is depicted as if he were a robot? I am a women, I am made out of flesh and bone, not stone or wood. I am an emotional creature; a human being empowered by an animalistic instinct that has facilitated the survival of the species long before the pigs came up with their bogus theories that rational economic contemplation governs the actions of man. Tell that nonsense to the poet, the hermit, the actor/political activist, such as that stud, Alex Baldwin, an etc.
Reply #30 Top
The the real irony may be that unless all of the Bush supporters on Joeuser are wealthy, they are in essence supporting policies that are against their own best interests. I would argue that even the wealthy in the future could find that these policies that they strongly support ,will be aginst their best interests. If we get to a true financial crisis by ignoring things like Medicare, Medicaid, the growing interest and job loss, the reaction by the middle and low income voter may be to throw out the conservative Republican politicians and elect people who will solve the fiscal crisis by huge increases in the tax burden to the wealthy. No one whether there are wealthy, middle income or poor have a bright future if the country's economic strength is destroyed and we experience a fiscal crisis.
Reply #31 Top
The the real irony may be that unless all of the Bush supporters on Joeuser are wealthy, they are in essence supporting policies that are against their own best interests. I would argue that even the wealthy in the future could find that these policies that they strongly support ,will be aginst their best interests. If we get to a true financial crisis by ignoring things like Medicare, Medicaid, the growing interest and job loss, the reaction by the middle and low income voter may be to throw out the conservative Republican politicians and elect people who will solve the fiscal crisis by huge increases in the tax burden to the wealthy. No one whether there are wealthy, middle income or poor have a bright future if the country's economic strength is destroyed and we experience a fiscal crisis.


If there were to be any taxes increases it should be for all Americans and not just the "evil rich". But we know that won't happen because democrats aren't going to be winning elections for a long time.