You could imagine the kinds of correspondence such as article would generate. I was reluctant to jump in. But alas, I couldn't help myself. You never know when you might reach a rational mind that's "on the fence."
So, I left these quickly cobbled-together comments:
Posted by
zemack July 29, 2012 at 5:00PM
The bigotry against the productive and
successful is a symptom of pure envy. The real problem is not income inequality
as such which—in the context of a free society—is a natural and morally virtuous
result of human nature; i.e., individual differences in ability, intelligence,
interests, ambition, values, goals, etc.
The real issue is the growing burden on upward economic
mobility. The question we should be asking is: Why is the number of economically
successful people falling (or at least stagnating)? A good clue; look at the
past decade that is the focus of the study.
Since 2001, we have seen a massive expansion of entitlements
(e.g. Bush’s prescription drug benefit), a massive expansion of economic
regulation (e.g., Bush’s Sarbanes-Oxley and the EPA’s regulation of CO2; Obama’s
ObamaCare and Dodd-Frank), a colossal
drain on private wealth ($10 trillion in federal deficit spending), the
collapse of the politically engineered “affordable housing crusade” (housing
boom and bust, and related recession), massive inflation (the fed’s easy money
policies), and so on.
It takes a massive act of mental evasion to avoid the fact
that the economic troubles of the past decade coincides perfectly with the
massive growth of the regulatory welfare state to unprecedented proportions. If
government coercion and intervention is the answer, we should have economic
nirvana. Instead, we have perpetual economic struggles. This is no coincidence.
The Marxist obsession with “income inequality” and the cowardly
scapegoating of “the rich” will not hide this fact. Nor will it hide the fact
that the answer is to reverse course; regain our reverence for economic
success, and institute massive cuts in taxes, spending, redistributive theft, and
regulations. Otherwise, the course we are on will lead to continuing shrinkage
in individual productiveness—the only source of economic vitality—and the
growing entrenchment of the entitlement mentality—the source of economic sloth.
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