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Them Uppity Middle Class

 
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jabailo



Joined: 20 Mar 2006
Posts: 1273
Location: Kent (East Hill), WA

PostPosted: Sat Dec 26, 2009 12:10 am    Post subject: Them Uppity Middle Class Reply with quote

http://article.nationalreview.com/?q=ZmViZTdjMjgxM2JjZmU1NmUzODc4OGY2N2NiM2ZmZDc=

War Against the Wannabe Rich

Quote:
President Obama has declared that those who make over $200,000 will pay higher income taxes. Caps on payroll taxes are supposed to come off as well for the upper class. Envisioned estate taxes will take 45 percent of individual inheritances valued over $3.5 million. Many states have also hiked their income taxes on the upper brackets.

Again, most of those targeted are not the already rich a Warren Buffett or Bill Gates but millions of the wannabe rich.
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jabailo



Joined: 20 Mar 2006
Posts: 1273
Location: Kent (East Hill), WA

PostPosted: Tue Mar 09, 2010 10:32 am    Post subject: Reply with quote

The Scary New Rich

The global middle class is more unstable and less liberal than we thought.


http://www.newsweek.com/id/234589/CommentSuccess/false#CommentBox

Quote:
The truth is that "they" are not becoming just like "us." The global middle class is rising faster than expected, in numbers and in wealth. Last year 70 million people joined the emerging-market middle class, with incomes between $6,000 and $30,000. They have become "the story of the decade," says Goldman Sachs's chief economist Jim O'Neill, and will surpass their Western peers in global spending power within two decades. Morgan Stanley Asia chair Stephen Roach believes that in five to 10 years, the emerging-market middle class in Asia alone could pick up the slack left by overspent American consumers. Already, emerging markets are bolstering the balance sheets of many Western firms. The Chinese bought more cars than Americans did last year, and India has as many Internet users as the U.S. does. By 2030, more than nine of every 10 mobile phones will be owned by people in the developing world, with India and China leading the way. Coca-Cola recently forecast a doubling of worldwide revenues to $200 billion over the next decade, thanks to another 1 billion people expected to join the middle class by 2020.
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