> That you disagree doesn't make it "fantastical", it merely makes it a point
> of disagreement.
>
In fact, the claim that "The working class don't pay taxes" is pure fantasy. It isn't a point of disagreement: it is just nonsense. If your point had a secret meaning that I was supposed to infer (perhaps you are saying that rising income taxes on the working class tends to be compensated for by higher wages, which is sometimes true; or perhaps you are saying that the share of total taxes paid by the working class is so marginal that it doesn't bear mentioning, which is untrue), I'm afraid I missed it. As it stands, it is a demonstrable matter of fact that the working class in the United States pays a variety of taxes.
You go on to say: "If unable to pay increased mortgage, then also unable to pay any "increased" taxes. Obviously. Think it through man."
I don't believe I've been obtuse on this point, but allow me to run through it with you. In the short run, homeowners unable to pay mortgages will default and the bank will foreclose, and they will live either in rented accomodation or with relatives or out of their cars or in a shelter. When the government starts trying to pay these trillions back, this will be deferred until their is economic growth again (assuming that Stiglitz isn't right, and we aren't headed for L-shaped growth). They can then apply higher taxes to all income groups. Just as with public sector pay cuts in the UK, the working class may be expected to restrict its consumption in order to pay for the effects of the crisis. I say 'may' - I would anticipate that every effort will be made by the charmingly named 'donor community' to ensure that this is exactly what does happen.