We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
A quote from Robert Samuelson's The Poor aren't Poor Because Rich are Rich:
Judged only by economic inequality, the financial crisis is a godsend. It will probably narrow the gap — though still vast — between the rich and everybody else. But what good will that do? Economic inequality also declined in the Great Depression. The country wasn't better off.
By and large, the poor aren't poor because the rich are rich. They're usually poor for their own reasons: family breakdown, low skills, destructive personal habits and plain bad luck.
The presumption implicit in the criticism of growing economic inequality is that society's income is a given and, if the rich have less, others will have more. Up to a point, that's true. The government already redistributes much income, often for the good.
During the boom years, companies might have been less lavish with top executives and slightly more generous to other workers or shareholders. Some new fortunes stem from self-dealing and financial razzle-dazzle, not the creation of real economic value. It's just desserts that some of this wealth has evaporated.
But the redistributionist argument is at best a half-truth. The larger truth is that much of the income of the rich and well-to-do comes from what they do. If they stop doing it, then the income and wealth vanish. No one gets it. It can't be redistributed because it doesn't exist. Everyone's poorer.
Read the whole thing. Of course, the whole Lefty populist mantra about "corporate greed" and "sharing" only appeals to economic illiterates, but America and the world have plenty of those.
It's difficult to create wealth if you are economically illiterate, so your own envy or greed will make you want to take it away from somebody else who created it with their creativity, effort, skill and drive.
The fallacy is the one we discuss so often: the notion that wealth is a zero-sum game. Wealth, as Americans understand better than most of the world does, is an infinitely-expandable thing. All it takes is peoples' desire and creative spirit.
Unlike material things, wealth is created from thin air - and wealth is destroyed leaving no residue.
Speaking of which, we were too caught up in the election flurry to post this video of Dem. Rep. Jim Moran discussing his thoughts on wealth redistribution. It's populist, socialistic - and either as ignorant as hell or manipulative as hell. Who does he think "owns" corporations? 2/3 of Americans "own" the corporations via being shareholders and bondholders. I'd like to see it advance to 100%.
At some time during the process of filling out federal tax returns I inevitably ask myself "wtf are these guys?" Lifetime members of the cement-head club? The congressman must be the grand poobah. We are governed by idiots.
"It's difficult to create wealth if you are economically illiterate, so your own envy or greed will make you want to take it away from somebody else who created it with their creativity, effort, skill and drive."
I recall Rep. Moran as being involved in some very distasteful, liberal nonsense a while back but can't exactly remember which incident. Is he from Virginia? Wash State? With 2/3 of all Americans holding some kind of bond or common stock and/or mutual fund, how could these guys dare to screw around with 401-K's and other private retirement plans? That's a third rail now, isn't it?
These are the same guys who want to increase capital gains taxes because it is the "fair" thing to do, no matter that when capital gains taxes are cut, the wealth pie grows bigger. With so many Americans vested in corporate profitsthese days, isn't that fact our best defense against the class envy redistributionists?
There are simply too many Americans with a real stake in the future of corporate profits and that is our best insurance against redistributionist schemes taking hold. Republicans can now throw the 401-K stuff back in the faces of these Democrats, just as the Dems do to Republicans with Social Security! This is a big winner for Republicans.
"Democrats want to take your retirement accounts away. Is this what you have worked so hard to do? You've invested in America's future and now the Democrats want to take it away from you to pay for their wasteful redistributionist schemes." And always use the word "scheme"; in America it connotes something on the shady, swindling side of things unlike it's value neutral meaning in Britain.
Well, let's see.... 55% of those who voted for the dems will have their taxes raised, as well. In my mind, that makes them very altruistic because they want to give their money to the poor.
Or is all their money in off-shore accounts? Just like all our big corporations will be in off-shore lands soon enough. Then we'll have more poor people (unemployed) to give our dwindling wealth to. No jobs, alas. These people are nuts.
Meta, una bella. Your talking to a Dago that never takes his shirt off at the beach. I would never wear a speedo, their so gross! Thanks for keeping me in such esteemed mama's boys company with BD, and Mr B. Your right those people are nuts. I'm still in denial. Rage out of control. Chewing my meds like Pez. Lots of Dago red wine tonite. Hope you and yours are well, stay safe. : )
Are you in a Klonopinesque fugue, Jappy? Wine is good with that.
You have to understand something about women. They don't care so much about buffness. Not like you men care about big bosoms and tiny waists and Hottentot butts. Women like strength of character, a man who can kill a spider, a man who actually knows what foreplay is, and one who will bring us bon bons after you-know-what. So, if your gut covers up the Speedo, don't worry. We don't care....We still love you.