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Andrew

Collingwood, Ontario, Canada | Member Since 2006

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  • Aftershock: The Next Economy and America’s Future

    • UNABRIDGED (4 hrs and 29 mins)
    • By Robert Reich
    • Narrated By Robert Reich
    Overall
    (434)
    Performance
    (252)
    Story
    (257)

    The author of 12 acclaimed books, Robert B. Reich is a Chancellor’s Professor of Public Policy at the University of California, Berkeley, and has served in three national administrations. While many blamed Wall Street for the financial meltdown, Aftershock points a finger at a national economy in which wealth is increasingly concentrated at the top - and where a grasping middle class simply does not have the resources to remain viable.

    Chris says: "Very plausible assessment of our economy"
    "Come on Buffet, spend some of your $$$"
    Overall

    It would take days to write a review that does the book justice. Its well written and full of great insights.

    If I had to say there was one real revolutionary thought for me it is the following;

    The wealthy, no not the rich, but those with 50+Million in the bank, need to come to the party. One of the worst offenders is probably Buffet. He is hoarding the money that could be greasing this economy. He espouses frugality but seems to conveniently forget that the US is a consumer-spending based economy. I lived in Palm Beach for a while and I can tell you that the wealthy don't spend anywhere near their fair share. Ok Warren, you win, you're the best. Now break the weld on that wallet and go buy a few billion dollars worth of American products! Why not buy everyone in Nebraska a new Corvette!

    Its pretty simple; you give a guy with 100 Million in the bank a tax cut and he uses it to pad his investments. You give the same tax cut to a working mother of two and that tax cut is spent the next day.

    The wealthy should either start spending a fair percentage of their wealth or they should be taxed in order to bring that money back into the economy. This should include a tax on capital, and a tax on income. Everyone knows what happens when one person has all the capital in a friendly game of Monopoly - you have to fold up the board and start again. America is dangerously close to folding up the board. It could get ugly.

    6 of 9 people found this review helpful

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