Here’s some happy Hump Day news: the economy is fixed! You don’t have to worry any more.
Not only are these wealthy people making more money than ever, tax rates are at historic lows. That’s right, tax rates are lower now than they were under Ronald Reagan.
This means the economy is treating you just fine — assuming you have a Wall Street job and a bunch of money invested in the market.
And it means the economic indicators are just great — if you believe the kind of supply-side economics nonsense that every iota of historical experience disproves.
Of course, if you’re like most Americans, you’re more concerned with getting a job than how rich some guy in a faraway metropolis is getting. You might think the government should use those record low interest rates to finance a public jobs program that would spark America’s economic engine by putting people back to work.
But then, that would make sense. And we all know economics isn’t about making sense.