People get all fired up about wealth redistribution. You know what wealth redistribution looks like? When it's done right, it looks like Social Security; elderly and sick people getting what they need to live. When it's done wrong it looks like AIG spending margin and fee money on $500k executive retreats. Taking their profit (which came from investors like us) and using it to pad their lifestyles.
Don't give me any crap about hard work. I just read this:
Although sociological research on the subject wealth is relatively new, economists have long been studying wealth. Economic research has shown that family wealth has grown considerably over the past several decades as housing and stock markets have soared (Wolff 2002). Wealth inequality has also increased substantially over the same time period. Inequality in wealth far surpasses inequality in income. The top 1% of U.S. families control over 38% of the country’s wealth, and the top 5% own almost 60% of all wealth. One of the potential consequences of this rising inequality is that families with wealth will use it to create more opportunities for themselves and, particularly, for their offspring.
from this site: http://www.allacademic.com//meta/p_mla_apa_research_citation/1/0/3/9/0/p... It's a good paper. I know that we don't read 20-page papers any more, but it's a good read.
My point is, we have been living in essentially the most free market of all economies since the eighties. Bill Clinton, though a democrat, still geared the nation's finances toward the free market. As a result, the rich are REALLY rich and the middle class are poor, and the poor are broke.
Broke people get dumber as a whole. Dumb people ruin nations. You cannot save America by creating an environment which allows the super-rich to sustain itself and actively exclude anyone else. You can save America by funneling it's resources back to the people where they belong.
No comments:
Post a Comment