Tuesday, March 31, 2009

On Income Inequality

I blog too much on nutbob extraordinaire Matthew Yglesias already, so I ignored his recent comments on taxing the rich. The guy is so far out on the left he's literally off the charts:

What if we had a 95 percent marginal tax rate on income over $10 million? What dire consequences would flow from this? What dire consequences?
But Maggie's Farm has responded, here, and especially, here:

While it may be overly simplistic to divide people into the producers (of profits) and the non-producers, there is still something to it. And there is something to it psychologically too, because the non-producers often carry a small secret uncomfortable feeling about being more directly dependent on the effort and profit of others to produce the $ to cover their paychecks.

The creation of wealth is a kind of magic from which everyone benefits. I am sick of the CEO-bashing and business-bashing and bashing of commerce. The Left acts according to the foolish and economically moronic illusion that wealth (and poverty) are static, and operate on a zero-sum basis. That's what "Gimme yours" comes from.
There's more at the link.

Dan Collins, see also the great piece at American Thinker, "Whom the Gods Would Destroy":
What are we to make of liberal Americans who live with obsessional hatred of their own country? Especially when their country is the most prosperous, lovable, and overall, the most benevolent country in the world?


Dan Collins said...

There was a time within blogger memory when Yglesias attempted to project the impression of objectivity. That was a long time ago.