Rising Tide Lifts All Boats

I have often pointed out that inequality in wealth and incomes has reached historic proportions, as has President Obama, but his answers are worse than the disease.  Except for a slightly higher income tax on incomes exceeding $5 million together with elimination of tax loopholes available to the very rich, I have never advocated socialist policies.

As Winston Churchill once said,”Under capitalism a few are rich and many are poor, but under socialism everyone is poor”.  Churchill should also have pointed out that in communist and in socialist countries, politically connected people somehow end up becoming very rich without creating any wealth.

I have also suggested that globalization and welfare policies are the main culprits in the growing inequality in the USA, and that there are ways to work ourselves out of this mess, albeit slowly.

Here below is an amusing video starring Barack Obama and Ronald Reagan:

 If video does not load go here.