Secondly, if I may, I choose to offer a different interpretation of “hanging in there.” Recent sentiment has pointed to the United States entering a severe, depression-esque economic crises that threatens to critically alter the way in which the vast majority of Americans live. Yet, such statements by Holtz-Eakin, as well as Phil Gramm, point to the somewhat conflicting notion that there is indeed a possibility that this crisis may not be as bad as once posited. In fact, US consumer spending, while declining, has stayed more buoyant than many previously predicted. Such evidence would point to the fact that many Americans, while by no means prospering financially, are indeed, “hanging in there.”

Finally, the microscopic particles of substance contained in the former part of your article were severely discredited by your ending argument relating to corporate taxes. Your logic stating that a corporate tax cut (which, by the way, has been hinted at by Senator Obama) would solely benefit the richest 1% of Americans is so asinine that I am having trouble deciding where to begin my rebuttal. Firstly, corporations are largely owned not just by the richest Americans, but by the vast majority of the US population. Roughly 59% of Americans own stock, and of that number 75% make under $100,000/year. Moreover, America has been put at a significant competitive disadvantage by imposing corporate taxes that are the 2nd highest in the developed world. This encourages companies ti set up there headquarters elsewhere, thus decreasing the rate of domestic job creation for American citizens.

When times are good many on Wall Street probably made money in spite of themselves, rather than because they deserved it, like many farmers who have over-farmed their land, or hunters that have over-hunted, these amateurs on wall street have over-utilized even abused Main Street, and the good times subsequently have ended. Now that the good times are over they are in a world of hurt, mainly because they are unwilling or unable to change themselves, their habits or their lifestyles.

By it’s nature Main Street will likely always survive, Wall Street might not, and certainly won’t if Main Street doesn’t recover.

-MBirchmeier