NVDAILY.COM | Opinion
Posted December 28, 2012 | Leave a comment
Letter to the Editor: Save the middle class, save the economy
I fully agree with everything Bob Lowerre wrote in his reader commentary entitled "Save the Middle Class?" in the Northern Virginia Daily on Dec. 12, except that at the end of the title there should have been an exclamation point instead of a question mark.
Why can't we get it into our heads that the U.S. economy is consumer driven? Does any thoughtful person question that?
Members of the upper class spend a much smaller portion of their income on consumer products and services. Does any thoughtful person question that?
Members of the middle class spend a much larger portion of their income on consumer goods and services. Does any thoughtful person question that?
Spending creates demand. Demand creates jobs.
People with jobs do not receive welfare benefits or unemployment compensation, but they do pay income taxes - three pluses to help balance the budget.
Yes, we need the upper class to be financially healthy too, so that they can make job creating investments, but they currently have trillions of dollars sitting in their bank accounts and are not investing their money creating jobs for the very simple reason that there is limited demand for consumer goods and services. Would you invest in a new business when producers already have excess capacity?
Jobs for the unemployed should come before tax breaks for the upper class even when it increases our national deficit.
Yes, we do need to do something to make sure that a larger portion of our spending is for U.S.-produced goods and services. Why don't we talk more about this issue?
Yes, we do need to rein in our national deficit, but we need to create jobs first!
Increase spending! Increase demand! Create jobs! Save the middle class! Save our economy!
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