My only hope is that after reading my essays on the distribution of wealth my readers will avoid puerile
marxist explanations on the distribution of wealth, like "growing economic inequality is cased by the rich stealing from the poor...or from tax cuts."
If you're going to argue that tax cuts for the rich and big business have not caused more concentration of United States wealth, then please post your credentials here so that we may compare them to Robert Reich who has gone on record opposing your views with regard to this matter. Not to mention nearly every professor of economics nationwide. Laffer himself wasn't willing to support the latest round of tax cuts for the rich. When asked if they had payed for themselves, he responded "I don't know.".
ReplyDeleteBy the way. Are you aware of Albert Einstein's explanation of the first Great Depression? He went on record with a claim that it was caused primarily by a heavy concentration of wealth. He also predicted that it would happen again for the same reason. Agree or disagree?
Another thing. Stealing in the moral sense and legal sense are not necessarily the same action. Which are you refering to?
ReplyDelete1. When discussing a position, I try to directly focus on its strengths and weaknesses, not on the supposed merits or lack of merits of those who hold the view. History presents us with countless examples of brilliant people who were mistaken.
ReplyDelete2. Among economists there is a diversity of view points about the nature of and the proper manner to address income distribution issues.
3. There are certainly benefits of redistributive policies and programs, but I believe that they are outweighed by the costs.
4. We should keep in mind that in the United States wealth is generated from the labor and efforts on individuals. So, a tax cut is not giving, it is merely returning to individuals the product of their labors.
Excellent point in that first paragraph. I feel the same way about it. Except for this: I am convinced that many of the pundits running their mouths about the economy aren't only mistaken. They know better. In fact, I find it near impossible that anyone could look at the equation and somehow believe that a top-heavy economy can be sustained. It can't.
ReplyDeleteI only issued the challenge to get your response. It was a good one. Einstein said basically the same thing back in 1949.
I would agree with that fourth point only if actual wealth were generated from every effort and every transaction. It isn't. You can harvest a new resource, recycle, engineer, or make more efficient use of one but you can't 'generate' wealth simply by throwing a ball or charging more for a particular effort. That only transfers wealth from one party to another.
God himself could not convince me that an actor pretending to be a firefighter, paramedic, or soldier should be paid 500 times that of a real firefighter, paramedic, or soldier. Thats not progress. Thats a collosal injustice. Still, that actor has the nerve to run their mouth about moral values. It makes me sick.
You seem like a rational guy so far. A free thinker. Not a plant or pig.
The left is good at diagnosing illnesses, but often prescribes medicines with terrible side effects.
ReplyDeleteI too am disturbed that garbage actors receives 1,000 times more than a fireman.
But, what is the alternative? Do we want the government mandating the costs of goods, services and labor?
Do we want the government interfering in all private transactions between consenting adults? I personally things its insane to pay someone $10,000,000 for a movie, but if an individual or company feels thats a good or service from another party is worth X amount, that's there business and not mine.
What I really want is for the vast majority to sit down and do simple math. To understand how wealth circulates and accumulates. To stop spending so much of their money 'up' and spend more 'across' or 'down'. To stop worshiping false heroes like Oprah and consider real world events in detail. Not the PR crap shoveled in their faces by public figures.
ReplyDeleteOur government is made of individuals. Almost all of whom have an ulterior motive. Its a nightmare. There are no words.