In just a third of a century, the widespread liquidity that nourished the economy—reliable streams of cash going to workers and owners alike—has... d… - David Cay Johnston
" "In just a third of a century, the widespread liquidity that nourished the economy—reliable streams of cash going to workers and owners alike—has... dried up.
About David Cay Johnston
(born December 24, 1948) is an American investigative journalist and author specializing in economics and tax issues. He won the 2001 , and from 2009 to 2016 he was a Distinguished Visiting Lecturer at Syracuse University, Martin J. Whitman School of Management and College of Law, teaching tax, property, and regulatory law of the ancient world. From 2011 to 2012 he was a columnist for , writing, and producing video commentaries on worldwide issues of tax, accounting, economics, public finance and business. In recent years he has also written for and , and is the board president of , Inc. (IRE).
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Additional quotes by David Cay Johnston
George Will had a column in The Washington Post this week in which he said that the proof that the failed after 50 years was people trusted the government under LBJ and now they don't any more. ... [I] would argue... the facts show just the opposite. People don't trust the government anymore because they recognize it does not work in their interest, it works against their interest...
Child poverty [has] increased in this country since 1980, even though we have had divorce rates fall. We have hundreds of thousands of young people who don't go to college because they can't afford it. ...[F]rom tax data, the average income of the bottom half of Americans is $15,000 per tax payer. ...It's right out of the IRS tables. Some people say it's unfair to use that because there's income that isn't counted, like Social Security payments, and it's taxpayers not households, but even if you go to households, the cost of going to state college now is about $10,000... If you go to household income, even at the typical median level, $50,000; how somebody making $50,000, with even two children, can afford $10,000 a year for college for kids is amazing. When you and I were kids college was paid for. It was free to us. Society paid for it because they were investing in the future. Now, we're putting road blocks in the way of the most valuable asset we have. We're subsidizing the owners of baseball teams and football teams, which is lots of fun, but it's trivia, and we're doing it, in part, by cutting money for this.