You know. I think Obama is doing the right thing.

[cottonseed]

For a long time I've been sitting down, holding my breath like a petulant child saying nothing will change until we raise salaries. The housing market won't change, lending won't change, our 60% consumption based economy won't be pumped back up until people make more money; read: kill the disparity in income.

Wall Street and cable news can cry and theorize as much as they want about how to get liquidity back into the market, to get the economy going, to get the housing market humming again. None of those things will happen until we start to get a handle on the income spread between rich and non-rich.

Obama is rolling back taxes and taking away many deductions on the wealthy. This is the first step and he's getting KILLED by doing so. The rich know it, they know where this is going and that's why we see a coordinated attack by all media outlets.

Nothing else matters in my mind. He needs to get a handle on our money culture. He needs to tax more on the wealthy to shrink the income gap and increase income for all non-wealthy Americans. Then he can start to looking at lopping off $400 billion per year in defense spending (which he'll again be drawn and quartered for).

When people start to get more money back and the wealthy stop sucking the cream from the top, we'll get going again, and the precious stock market, that living breathing animal that's both throwing up and throwing a fit right now will start to stabilize and recapitalize.

I'm watching this taxing argument because I think nothing else matters. In our system, run by central banking, the ONLY way to get money to "trickle up" is to tax it and inject it directly into the real economy and not rely on central banking to lend money to those who already have far too much of it.

[chieftain]

1. Well said. You are right on every point you made. eom