What's the matter with America?
Answer: About half the country didn't understand MPC the last time they voted, and they, including Kansas, are about to vote again.
With so many confused voters, the Supreme Court selected a guy who talked like: "Shot yourself in your foot once. Shame on me. Shoot yourself in your foot twice" Shame on, ah" shame on "you?"
Well, MPC ain't Misquotes Per Calorie.
Even upper crust, expensively schooled, palavering patriotic Americans who may not have paid federal taxes for ten years, paid 13.9% in 2010, and may have cash, stocks, and bonds north of $300 million stashed offshore avoiding taxes and stateside investments, may not understand MPC. If they do understand it, then they don't really give a crap about how 98% of Americans' MPC makes the economy jell and builds a middle class.
Lower crust, poorly schooled, struggling, military serving Americans who also may have paid a meager percentage in federal taxes and have fifty emergency bucks stashed under the mattress also fail to grasp MPC's role in making their budgets work and grow.
MPC ain't Manipulate People's Choices, but it includes manipulating who gets to choose how money is used.
MPC is about Multiplying Peoples Choices. It's the choice you make, or must make, with your money. Monetary and tax policies triggers the MPC mechanism that reflects the economy's strength.
Do legislators want an economy reflecting the dollar votes cast by the 98-99% or one based on the dollar votes consumed by the top 1-2%?
Will we have a diversity of little shops and restaurants filling the streets with the exchange of ideas and transactions where smiles proliferate and seldom is heard discouraging words?
Or will those little town streets become cold, dark, hungry, and empty of commerce, while the mansions are bright with parties where sophisticates blithely reply, "Let them eat cake," as they depart their soirees in limos for their yachts and chalets in other parts of the world.
Is MPC different for those connected to the little shops versus those ensconced in chalets and jet planes?
Yes" And since it defines our economy, let's define and personalize it.
MPC is the proportion of additional income that an individual/household consumes.
Assume you are that single mom George W. Bush praised for working three jobs to make ends meet as " Uniquely American, isn't it?"
Let's call her Tamara Dough, earning California's minimum wage of $8.00 an hour. In 2012, after deductions and exemptions ($2,900 for single, $3,700 for head of household and each child ), her taxable income is $11,170, which means she works a lot more than 40 hours per week. She falls into the 15% income tax bracket, but after exemptions her effective tax rate is 11%, which is 2.9% less than what Mitt Romney paid in 2010 on $21,646,000 adjusted gross income, for which it seems he logged almost no hours working but probably lots of time poolside.