A Nation of Peasants?
The U.S. has returned to deriding “trickle-down” economics.
Traditional peasant societies believe in only a limited amount of good. The more your neighbor earns, the less someone else gets. Profits are seen as a sort of theft; they must be either hidden or redistributed. Envy, rather than admiration of success, reigns.<---see class envy/warfare. Obummer has it down to an art.
Even after the failure of statism at the end of the Cold War, the disasters of socialism in Venezuela and Cuba, and the recent financial meltdowns in the European Union, America is returning to a peasant mentality of a limited good that redistributes wealth rather than creates it. Candidate Obama’s “spread the wealth” slip to Joe the Plumber simply was upgraded to President Obama’s “I do think at a certain point you’ve made enough money.”
The more his administration castigates insurers, businesses, and doctors; raises taxes on the upper income brackets; and imposes additional regulations, the more those who create wealth are deciding to sit out, neither hiring nor lending.
The result is that traditional self-interested profit-makers are locking up trillions of dollars in unspent cash rather than using it to take risks, since they will likely either lose money due to new red tape or see much of their profit confiscated through higher taxes.
No wonder that in such a climate of fear and suspicion, unemployment remains near 10 percent. Deficits chronically exceed $1 trillion per annum. And now the poverty rate has hit a historic high. We are all getting poorer in hopes that a few won’t get richer.
The public is seldom told that 1 percent of taxpayers already pay 40 percent of the income taxes collected, while 40 percent of income earners are exempt from federal income tax
— or that present entitlements like Medicare and Social Security are financially unsustainable. Instead, they hear more often that those who manage to make above $250,000 per year have obligations to the rest of us to give back about 60 percent of what they earn in higher health-care and income taxes — together with payroll and rising state income taxes, and along with increased capital-gains and inheritance taxes.
This sounds about par for the course as best I can tell with the way gubment is operating. Do read the whole article please.