The Federal Reserve's dual mandate has not created more jobs for the U.S. and policy makers are not helping the cause. Its my personal opinion that congress is wrong to want to tax higher rates to those who make more money especially in this fragile economy. In doing this we are sending a message that we the Government punish job creators and those willing to take large risks to create businesses. You can argue that those who make over 250,000 may be better off than those who make less but in the long run is 250,000 dollars a year going to have the same purchasing power ten years from now? Soon at this current rate 250,000 will someday be around the middle class average income, assuming we have a middle class in the future.
Here is interesting article by Peter Schiff economist and CEO of Euro Pacific Capital
Fewer Jobs and More Stimulus
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