“We know public schools have failed because more than half of new students at community colleges require remedial courses in math, English or both. “
Read MoreWhile the second Wilson Administration pushed illiberal policies such as the Sedition Act of 1918, today we have voluntarily embraced illiberal mean to achieve liberal ends. I find this even more disturbing. The cancel culture and politically correct curbs on free speech has eroded legitimate debate and made the voting booth the last remaining safe space. This is magnified by a media that has replaced objective journalistic standards will the protection of partisan narratives.
Read MoreWarren uses ‘rich people’ as a scapegoat in the same way the classical bigots of history used religious and ethnic vulnerable minorities and the ‘others’. It is a form of intellectual bigotry and is clouded in the same lethal combination of ignorance and dishonesty.
Read MoreThe prioritization of inequality over poverty is attributed to envy in some cases but more often to a violation of some sense of fairness. But just as we should care not the think of the poor as a single entity, we should be even more cautious not to group the rich or even the super-rich as a single faceless group. Some of the super wealthy have benefited us all, and some have abused the system to their advantage while providing little value. We should distinguish between the rent seekers and the rich who have improved our lives.
Read More“The stated goal of the War on Poverty is not just to raise living standards, but also to make America’s poor more self-sufficient and to bring them into the mainstream of the economy. In that effort the war has been an abject failure, increasing dependency and largely severing the bottom fifth of earners from the rewards and responsibilities of work.”
Read More“The working classes get riled up when they see someone at the grocery store flipping out their food stamps to buy a T-bone. They have no idea that a nice family on the other side of town is walking away with $100,000 for flipping their house.”
Read More“The extraordinary postcrash prosperity of the precrash superrich is altogether new in our history. Near-zero interest rates are a godsend to the wealthy, inflating their real estate, stock portfolios, bond portfolios, private equity holdings, and art collections. Middle-class and blue-collar Americans, meanwhile, haven’t made much progress, and many are worse off. Inequality has increased.”
Read Morefrom The Wall Street Journal by Gregory Clark
“As a bizarre consequence of this pattern, African-Americans, who have low levels of net worth on average, are the social group for which inherited wealth represents the largest share of their net worth. Another odd implication is that inheritances tend to make overall wealth-holding more equal. Were inherited wealth to be completely abolished, the wealth of the poor would decline more than that of the rich. Inherited wealth is the great equalizer. Who knew?”
by Henry Oliner
The estate tax is less of a transfer from the rich to the poor than it is a transfer from one group of wealthy to other wealthy special interests. The great beneficiaries of estate taxes are tax lawyers and accountants, insurance companies, and wealthier businesses who use the pressure of the estate taxes to acquire other firms and grow larger.
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