trillion into asset markets, and borrowed $13 trillion – since 2009 – to protect the rich from losses. And on the third hand – if there were such a thing – the mob and the Democrat contenders don’t seem to care what’s really going on. They offer solutions to problems that don’t exist... and remedies that will just make the unfairness worse. For example, Ms. Alexandria Ocasio-Cortez (AOC) recently gave a speech in Texas. Bloomberg was on the story: Democrat Alexandria Ocasio-Cortez, whose sudden rise to prominence has made her a target of Republicans and a sometime irritant to her party’s leaders, called capitalism an “irredeemable” system that is to blame for income inequality. The 29-year-old, first-term U.S. House member from New York and self- described democratic socialist addressed an enthusiastic crowd Saturday at the South by Southwest conference in Austin, Texas, about issues that resonate with her fellow millennials, from universal healthcare to combating climate change. Really? Is capitalism to blame for income inequality? FREE SYSTEM In a free (capitalist) system, some people will always work harder, get luckier, invest their time and money more wisely, and get richer.
Yes, the “recovery” seems to be rolling over. But let’s wait to hear a few more notes before we “guess that tune.” IRREDEEMABLE SYSTEM In the meantime, the mob is warming its tar and collecting its feathers. Already, almost every Democrat with his eye on the White House has come forward with a new way to punish the rich. Tax their incomes, tax their wealth, tax their estates... even prohibit them from becoming billionaires. There was even a proposal from Hawaii Senator Brian Schatz to tax their investment transactions.
Some people will always work harder, get luckier, invest their time and money more wisely, and get richer.
We have mixed feelings about this... as we do about so many other things. On the one hand, most people would put us in the “rich” category, even though no club of the truly rich would have us... On the other hand, the mob has a point. Much of the wealth enjoyed by the rich has come to them unfairly. It’s not the fruit of honest economic expansion – instead, the feds rigged the system. They suppressed interest rates, dumped $4
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April 2019
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