to include most recent CBO data
So-called “Progressive” Marxists are waging class warfare.
They claim that, for decades, incomes have declined for all but the wealthiest.
Click here or here for typical examples.
This is, not surprisingly, just another so-called “Progressive” bald faced lie!
Now, examine the following inflation adjusted charts for objective data.
Click the image to enlarge it:
Click the image to enlarge it:
Click here for the CBO source data.
Click here for commentary.
In a free market system, the rich become rich not only by creating jobs, but -- as a direct result of the profit incentive -- by improving the quality and duration of life for all.
So-called “Progressives” would have us believe that robbing these job creators (at gunpoint) will benefit those whom the “Progressives” portray as the victims of free markets. What few crumbs from this theft might befall these “victims” only serves to corrupt and enslave them within a hideously corrupt political patronage system.
Meantime, once enough of the profit incentive is eliminated, the engines of innovation shutdown and all of human progress stagnates and dies. Even the status quo begins to crumble. Sound familiar? It should. We’ve seen that story play out in every Socialist Utopia throughout all of human history.
Now, if you want to know where the least deserving among the top 1% reside, look to the fat cats on Wall Street (located in the Leftist bastion of NYC). These guys have gotten in bed with the Federal government to ensure that their rewards are privatized and their risks are socialized (through government bailouts). Many blame Bush 43 for these bailouts. Bush shares the blame. But…
1) It was a Democratic majority in Congress which created the mess.
2) It was a Democratic majority in Congress which, in defiance of at least 165 leading economists, hastily signed the bailout checks (as they have done many times in the last 15 years).
3) It was a Democratic majority in Congress which more recently passed so-called “Finance Reform” (which did NOTHING to address the real root of the problem and did NOTHING to ensure another bailout would not be in our future).
Without these bailouts, that top 1% -- by virtue of accepting the consequences of the risks they took -- would have been taken down a great many notches. So, if the so-called “Progressives” really want to reduce the “income inequality” (without killing the Golden Goose in the process), they should advocate LESS government intervention in the marketplace, not more. But, doing so would take millions from the pockets of their fellow Democrats (and, in turn, themselves).
(as opposed to Dim-style theft through Crony Capitalism).
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