Having made class warfare one of two cornerstones of their campaigns – the other was racial polarization- Obama and the Dems have proceeded to actually make good on their promise.
I can’t for the life of me justify having even the slightest concern about the “gap” between the rich ad the poor. It’s nothing but an idiotic concept the sole purpose of which is to induce jealousy and envy in order to incite class warfare. Assume, for example, that the wealthiest man you know is worth say a paltry $500 million dollars. He opens a factory and gives you and two hundred others a job working in that factory. You now have a job making say $40,ooo per year. You like your job and are content to try and make a career out of it.
Along comes the community agitator (where I was born they called them “cadre”) who tells you and your fellow co-workers that in the past three years, as your salary went to $46,000, the factory owner’s net worth went from $500 million to $520 million largely due to the profits made at the factory. Therefore, the community agitator surmises, the wealth gap went up , unfairly and even unjustly. While you have the good sense to kick the community agitator’s ass so hard his dead ancestors taste shoe leather, some of your co-workers agree with him and elect politicians to remedy the situation.
The politicians impose taxes and tariffs and regulations and before you know it the factory goes in the red and shuts down. The owner loses $50 million dollars in the whole affair so he has less than what he started with and his net worth drops to $470 million. You and your co-workers are out of a job, but you are no worse than before you got the job.
The community agitator has probably hightailed it out of town before you can go and thank him for lowering the income gap from $500 million to $470 million.
Well, yeah it’s a story and not a realistic one at that, because you see in reality the community agitators don’t run and hide. They occupy the White House and the damn Congress and steal your money!
The Wall Street Journal reports that, like Lenin and Stalin and the Bolsheviks, Obama and Pelosi and Reid and the whole lousy lot just lowered the “wealth gap” as promised. “I’m glad you’re fired up!”
The deepest downturn in the U.S. economy since the Great Depression may finally shrink the gap between the very best-off Americans and everyone else.
If so, it won’t be by lifting up the bottom. It will be by pulling down the top.
Over the past 30 years, chief executives, Wall Street bankers and traders, law-firm partners and such amassed ever-greater incomes, while the incomes of factory workers, teachers, office managers and others in the middle grew much more slowly. In 2007, the top 1% of U.S. families accounted for 23.5% of all personal income in the U.S., according to economists Emmanuel Saez of the University of California at Berkeley and Thomas Piketty of the Paris School of Economics. That was a level not seen since the Roaring Twenties. Read article here