Is there a middle-class squeeze? Experts debate

[Deja Q]

http://www.msnbc.msn.com/id/21266703

Robert B. Reich, Clinton administration labor secretary:
(SNIP)
Finally, median wages, adjusted for inflation, haven't increased all that much. Although the American economy is far larger than it was 30 years ago, most of the gains from growth have gone to the top 1 percent — and even inside the top 1 percent, most of the gains have gone to the very top. Since the 1970s, the nation's richest 1 percent — comprising roughly 1.5 million families in 2004 — have more than doubled their share of total national wealth.

Arthur B. Laffer, 'Father of supply-side economics’:
(SNIP)
In short, the reason we’re as prosperous as we are is simply due to pro-growth economic policies, including restrained government spending, low rate flat(ish) taxes, sound money, limited regulations, free trade and open borders. Reverse these policies and you will quickly experience the dark side of the supply side. Then people will really have something to complain about.

Bob McTeer, former Federal Reserve bank president:
(SNIP)
Middle-class envy should be tempered by the knowledge that entrepreneurs and business executives drive our economy and employ the rest of us. Let’s not bite the hands that employ and feed us. High income people even help us by their conspicuous consumption. They make a market in the new inventions while they are still too expensive for most of us. Sustaining demand and output until economies of scale and mass production kick in enable us to afford former luxuries that become essential necessities before we know it. The basic point is that we can’t pull ourselves up by pulling others down.

Article has more.

[Fovea]

1. Bob Mc Teer

John Galt wannabe.

[Deja Q]

2. How does one 'pull others down' anyway?

Pushing them down, yes.

To 'pull' is a misnomer. But did John Galt know basic writing skills?

[Fovea]

3. no, ayn rand lacked even rudimentary writing skills

which is why so many inferior minds worship her.