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Arland Jacobson, Moorhead, Published May 09 2012

Supply and demand law has not been revoked

Consumer spending is the engine of the American economy, correct? Does it make sense, then, to have a tax system that has been a major contributor to the wide and growing income disparity between the 1 percent and the 99 percent (the worst among the world’s wealthy nations)? Will the wealthy “job creators” create jobs to produce goods people cannot afford to buy? Is it not the 99 percent who are the real job creators in this economy because they are the source of the vast majority of consumer spending?

Yet the tax/subsidy-enabled redistribution of wealth in this country has made most Americans less able to purchase things they need, not to mention the extras they would like. Oddly, there are lots of politicians who seem ignorant of these basic economic realities, and are proposing even more tax-enabled redistribution of wealth upward.

What are they thinking? Or has the law of supply and demand been revoked?