America Without A Middle Class

Trickle down economics and globalization are not the same thing. They really have very little to do with each other. We opened our borders and allowed capital that should have been working inside this country to flee and hunt for workers in cheaper labor markets. Subconsciously, most of us probably knew that stagnant wages could only be masked by the price breaks we got on cheap imports for so long, but we signed off on the concept of 'borrow from overseas to buy what they make'. We sold ourselves on the promise of a free lunch. There is no free lunch.

Globalization is the bigger villain. This country could have survived lower tax rates on the wealthy if their excess wasn't allowed to pursue so much investment overseas, or allowed to inflate so many speculative bubbles.

I hate to say this, but we went from a nation of people who built things to a nation of people who traded IOU's for the products of others. They worked, we partied.

Wall Street isn't the backbone of a real economy people, sorry. It does not redistribute wealth broadly, it concentrates it into a pyramidal caste system.