“Millionaire Next Door” actually small business people are the “real movers of the U.S. economy. They do not feel good about economy, government, and big financial institutions, so the economy will not move up again until they have confidence.
Too much bailout and not enough home grown jobs. The Millionaire Next Door is just hunkering down, not spending money on expansion, more jobs, growth of their small businesses. Federal Reserve is not giving them confidence either. They as a whole are very unhappy with Obama administration.
Actually they lost hope in 2006 with both Bush administration and the Pelosi/Reid congress. 2008 crash started in 2006. Main street is not Wall street.
It is just not high taxes and high spending, it has more to do with increased regulation. Too many rules, regulations, runaway government bureaucrats, etc. EPA, OSHA, IRS are the ones most mentioned by small businessmen as the problem ones.
Some of them are still in the mood to not vote for any incumbents. Debt ceiling, massive spending, runaway government,4 wars (Iraq,Afghanistan,Yemen,Libya), housing still in trouble. They talk about “real” jobs, not government giveaways, welfare, etc. Real jobs not a government community organized shakedown.
Until the small businessmen start to feel better about what is going on, I doubt the US economy will ever recover. Unfortunately many of our leaders do not grasp this.