Wal-Mart
Stores Inc. is forecasting a difficult holiday season, but Tiffany
& Co. just exceeded their earnings estimates by the simple expedient
of raising their prices. It’s hard to find a more vivid example of the
segmenting taking place in American
society: The wealthy are doing very well indeed, while even bargain
retailers are having a harder time of things. Here's the question. Is
it the Rich's fault they are richer? Why are the poor remaining poor?
Who is driving this? What is wrong? I maintain this is the result of
really bad tax policy, government regulation and subsidies for the poor
that commands them to remain poor or be punished. Unless this is
turned around the rich will keep getting richer and the poor poorer.
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