Reading the nytimes piece, I’m still baffled. When you read how obama will cut taxes for middle class and poorer families it sounds great. But the author doesn’t ever question the concept of ‘paying for tax cuts’ with a program that obama acknowledges may never raise govt revenue.
The author points out that the disparity between rich and poor is greater than 30 yrs ago. There seems to be an implied and unspoken argument that this gap is at the expense of poor people.
Are we saying that if a class of people can earn more money we are against it even if it doesn’t hurt the other classes? Why isn’t this communism? Make sure everyone is equally poor.
Is there any example in history of successful wealth ‘redistribution’? It feels like its vogue for rich people to come out in favor of higher taxes, the ultimate sign that you are a true american. What happened to sacrifice for shared goals? Are we really saying sacrifice so everyone feels better even if it never helps them live better?
I feel like we are in the middle of an ayn rand novel.
What bothers me most about articles like this, is the assumption that the govt can effect the economy. Are we really giving clinton the credit for the 90’s boom? That’s like crediting roosevelt for the car.
the 90’s was about productivity gains from IT and internet. This caused massive high value job creation as well as american wealth creation. The deficit was wiped out under clinton because of huge tax revenue. Nothing to do with tax cuts or raises or who was secy of treasury or even alan greenspan.
The author laments how avg americans haven’t seen their std of living go up in the past decade. Well, its not a god given right. It comes from innovation and its pretty tough to exceed the prior decade.
And the idea that warren buffet is a big proponent of wealth redistribution is just weird, ‘tax the heck out of people at the end and just redistribute it’. Where did that come from?
I’m impatiently waiting for our leaders and the reporters covering them to engage in a useful dialog. What is their vision for america in 20 yrs and what policies today will enable that. So far it sounds like obama’s is more about wealth equality than the economic growth for many.