In the short term, these unbalanced policies limit the incomes lower- and middle-class families have to spend on goods and services, which will slow demand and place our fragile economy at further risk. And the Great Recession proves that when the economy stumbles, minorities are most severely impacted with higher rates and longer periods of unemployment.
In the long term, the centralization of wealth and income in a few families restricts the struggling middle class from investing in the education of their children and taking risks to start new businesses—the engines of long-term growth and prosperity.
The whole piece is worth reading.
Thank you for this article and pointing out the broad ramifications to the lower income household in this country. It is unfortunate that the politicians are too aligned with their corporate pals and afraid to lose contributions and votes by raising revenue and the underprivileged have to pay instead.
With the high percentage of the household budgets now being subsidized with government payments, through unemployment, foodstamps, SSI, and other benefits, cutbacks will have a drastic impact.
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