But contrary to what Mr Edmonds thinks, this would have meant higher taxes for the bulk of the population, not just fat cats.

ECONOMIST: The economy

Despite a few exceptions that are tirelessly (and selectively) cited by advocates of a higher minimum wage, the bulk of the evidence -- from scores of studies, using data mainly from the U.S. but also from many other countries -- clearly shows that minimum wages reduceemployment of young, low-skilled people.

WSJ: Delay the Minimum-Wage Hike

Higher income Americans also pay the bulk of other taxes.

FORBES: The Proper Post-Election Agenda: Cut Spending, Then Taxes

That hasn't gone unnoticed by banks that are increasingly seeking out smaller, higher-priced sales to the newcomers alongside bulk asset sales to bigger investors.

WSJ: Sales Pace Picks Up for Troubled European Property Assets

"Since it's 70% of the economy, it's difficult for it to keep contracting at that pace if the bulk of it is either stable or trending higher, " he said.

FORBES: U.S. Economy

JPMorgan Chase, which also reported earnings Friday, surrendered the bulk of its earlier gains to trade just 0.1% higher.

FORBES: Record Quarter For Wells Fargo, Rocky Start For Stock

Single-family home prices are only higher because institutional investors are buying up distressed properties, one at a time and in bulk, as fast as their flash cash can fly.

FORBES: Rising Home Prices And Falling Unemployment: Don't Trust the Numbers

The bulk of the work stoppages in 2010 came during a public-workers strike over higher pay demands.

WSJ: South Africa Labor Unrest Spurs Deadly Gunbattle

But the bulk of the RNC releases to the mainstream media this week focused on rising unemployment and the higher taxes and fees Democrats suggest to pay for health care reform.

CNN: King: GOP sees fertile ground in taxes, pocketbook issues