Wednesday, November 19, 2014

Obama policies hurt the poor.

Got a letter to the editor published today (11/19/14) in the Record(the largest paper in Northern New Jersey).The headline the paper give to my letter was,"Obama policies hurt the Poor" and showed a picture of Obama.This is what appear in the paper,"Regarding"GOP didn't win on the issue"(a previous letter,that appeared on 11/17/14, to the editor,my letter in part was responding to):"I don't know what planet the writer lives on,but it ain't this one.He fails to understand that we live in a time of great economic angst,in part because of President Obama's trickle-down economic policies.
That program has nothing to do with tax policy,but rather with monetary policy.The Federal Reserve policy of just about zero interest rates,in effect ,gives money to the rich.Henceforth,the stock market goes up and up,but ordinary people cannot save money because interest are so low.So wages go down and down.Henceforth,we see a dramatic tranfer of wealth as the rich getricher,the poor get poorer and middle class disappears."

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