[quote=equalizer]
Schiller is the lone outsider with no agenda and has summed up the mood of the country. He views may appear a tad idealistic, but he correctly identified the two bubbles of the last decade.
Shiller: “There are many dimensions to trying to restore confidence. A plan to reduce the national debt is a relatively small part of it at this point. The really big thing is, people are very upset. They feel that the country is not theirs, and that a small group of wealthy people who get bailed out and bribe the government are in charge.”
Not everyone can have cream puffs![/quote]
IMHO, Shiller summed it up perfectly.
It’s not about “the people” wanting a flat tax (which is very regressive, and would make things even worse), nor is it about people wanting to extend tax cuts for “the rich.”
What’s making people upset is the wealth disparity –it happens every single time. When the corruption that leads to this disparity becomes so entrenched that it is no longer hidden, serious problems result. The people behind this corruption are the ones crying for a flat tax and extensions of Bush’s tax cuts, BTW.
