good slogan for watercooler debates. Taxcuts mean fewer Social Benefits, like food stamps and Section Eight housing, which makes those at the bottom more desperate .. desperate people will work for less and less. When wages at the bottom , to the desperate.. go down, the whole wage ladder sinks. Including middle class wages. So taxcuts equal wagecuts, for the comfy middle class. Surprise! THe only paycheck receivers who are disconnected from the wage ladder are those at the very top, CEO's and those just under them. A large sea of desperate poor is the normal state of affairs... like Mexico or Egypt. Our middle class was built by strong unions between about 1900 and 1952. Economies do not need middle class wages, only folks showing up for work daily. At whatever wages. Economies do not have to contain nice wages. But people sure live better with them. Engineers and teachers can be paid just five percent more than the minimum wage, and they will take it if that is all that is offered, and no unions are around to force a higher wage. Economies do not have to contain nice wages at all. Mexico is the real goal of the GOP. Milton Friedman spelled that out. A sea of poor people going to work every day. But Canada is the Dem goal. Mexico.... As Lou Dobbs says it, "the middle class is under attack". Mention that at the watercooler. Evidence: Bush singlehandedly ended overtime pay, by issuing an Executive Order. Even did it right before the election. Cheap labor is the goal.
If you're going to throw out simplistic theories about why Mexico is poor while Canada is rich, that don't take into account 80 years of one-party rule and Mexico's lacking fundamentals of first world ecomomics like the need for widespread private land ownership to develop capital, it at least helps if you don't end your post with an outright lie. George Bush did not end overtime pay by an executive order. In fact, he increased the salary level at which a worker becomes exempt from overtime pay, as has been demanded by unions for decades. Economics is only a con game to people too stupid to understand basic concepts like supply and demand.
What game would "fractional reserve" be? Or central banks, for that matter. Those are the real bane(s) of our society; not who makes what product where.
That is the stupidest thing I've ever heard. It's completely backwards. Did you ever take economics? First of all, no matter how "desperate" one gets, there is a minimum wage which prevents you from working for "less and less". Secondly, a tax cut is in and of itself a pay raise since one is allowed to keep more of what one earns. As to your "desperate" people losing their government benefits, it's better for the economy overall if they work a minimum wage job rather than live as parasites on welfare.