Wednesday, 30 June 2010

Is this the end of the American Dream?

But pushing legalization will accomplish nothing except to help drown the middle class. The south relied on slave labor, which created a wider gap between those on the top and on the bottom. The north relied on immigrant labor in its factories. Some of those immigrants were treated almost as badly as the slaves, but they did have enough mobility to be able to move up or to have their children and grandchildren move up into the middle class. But that same process can no longer work, when the middle class is being taxed to subsidize a dependent lifestyle for the people on the bottom. As a result those in the middle are sinking and those on the bottom have no real incentive to rise. If they want consumer products, there are credit cards. If they want homes, the government will subsidize their mortgage.

The American Dream increasingly no longer makes sense, as people live on credit and government entitlements. The big businesses and the government see no problem with any of this. The taxpayer sees half the problem with this picture. But it's only half the problem.