And economists wonder why demand hasn’t picked up?

Consumers can’t consume if they aren’t making any money.

And, as this chart from Talking Point Memos shows, consumers are getting cut out of today’s economy at an incredible pace:

This isn’t rocket science or brain surgery. If workers don’t have money to spend, they won’t buy goods. If they don’t buy goods, the economy won’t recover. The fat cats and oligarchs may think they can maintain their lifestyle if the rest of us end up selling pencils on the street corner, but I think they’re probably wrong.

America became a great economic power based on the strength of its middle class. Take a look at what’s happening to the middle class, and worry for the future of this nation.

Yet Republicans think the answer is more tax cuts for the wealthy and, yes, raising income tax on those who can least afford it. This chart, I think, shows that what clear-thinking people ought to be concerned about when they hear that nearly half of Americans pay no income tax is the fact that half of Americans don’t earn enough money to pay income tax. Rather than lowering the bar for paying tax, how about trying to raise more Americans above the current bar?

Just a thought.

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