Quote:
Originally Posted by gnu
The pie is smaller because of a government attempt to make life "fair" for those on the bottom. Changing lending laws to make loans of all types available to people who shouldn't have gotten them in the first place caused the mess we're in. The laws were changed because the conservatives in Congress gave in to the Liberals to pacify them and shut them up about their "class wars" bashing.
Once the laws were changed they were open to everyone to say "me too, I'll take some of that easy money. We gave in to giving people who didn't earn the right to low interest loans and opened Pandora's box.
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Give me a break...
Just exactly how many poor people were given loans that shouldn't have them? How many speculators were involved? Surely the million dollar condo in Florida were not being purchased by the poor.
The Bush tax cuts were aimed at the wealthy with the intent that this would have a Trickle down effect. Have you seen any evidence of that lately or in fact ever?
Here are the Bush tax cuts:
http://www.ctj.org/html/gwbfinal.htm
All they did was transfer the money from the middle class to the rich....now Obama wants to give tax cuts to the middle class and somehow that is wrong. It is hard to understand why the middle class doesn't deserve some relief?