A better version of this graphic can be found here with a simple explanation. What this shows is the course of the current recession compared to all the major recessions since the Great Depression of the 1930’s. Our economy hasn’t quit shrinking making this recession the the second worse. If this graph is correct we are ahead of the Depression as of the 75th week in the loss of stock market valuation.
The cure may be the Federal stimulus package and I made a comparison between the cost of the stimulus package and the cost of the Red Plan to local voters at last night’s School Board meeting. I reiterated the comparison at the Trib’s online forum today:
. . . “As for the cost of the Red Plan let’s put it in perspective. The trillion dollar Federal bailout divided by three-hundred million Americans will cost $3,333 per person. The rich will pay more for the bail out than the poor becaue it will be financed through a progressive income tax. The $430 million Red Plan divided by the 90,000 residents of the Duluth School District will cost $4,777 per person. It will be paid for with regressive property taxes that fall most heavily on the backs of the elderly who live on fixed incomes.”
A “Catherine K” took issue with me if not my math saying:
“Hey Harry, Once again you mislead the facts. 300 million Americans don’t pay taxes. Those who do not pay any taxes even get my tax payer money in tax credits back even when they don’t contribute any taxes. The rich will pay 90% of taxes under this new plan. Your math stinks. Maybe I could get someone to make a voodoo doll likeness of you and you can feel the pain you are causing this community. You were on the Board and did nothing to help this problem. You just kept kicking the can down the road. Duluth deserves better than this. By the way I won’t have any kids to in the system to enyoy the new school but I still support it and I am not wealthy.”
Like most Red Plan supporters Catherine K finds math taxing.
