Tuesday, October 18, 2011

Wealth redistribution

NY Governor Cuomo continues to say no to a millionaire's tax in New York. The only thing I agree with him on this is that this inequality of wealth we have developed needs to be addressed on the national level or you really will have state warfare, to an extent -- a company needing the unique talents found in offices in youth centric cities such as NYC or SF isn't going to pull up stakes to move to the middle of nowhere where the talent is much thinner.

We need a strong middle class to have a strong economy and concentrating wealth among a few is not going to do the trick. How much longer are we to accept that stagnant wages, anemic job growth with tax breaks for the wealthy is best for the nation while there are cuts to services, infrastructure maintenance and education that directly affect businesses ability to compete (excluding Wall Street apparently)?  Why tax the super rich for this? As Jesse James (or one of the old-West bank robbers) once said, you rob banks because that is where the money is.

I know money equals political power, and part of that power is using your puppets to denounce those who speak for the masses, but sooner or later people are going to realize that pitting the middle class against one another is a lose lose situation. When that happens the top 1% better hope that they don't find out what many top one percenters have discovered in past civilizations when the masses got tired of being beat down and decided that, since increased taxes weren't an option, more violent means of wealth distribution would have to suffice.

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