A Response to “Occupy Wall Street”

November 23, 2011

After a six month hiatus from posting on this blog, the first entry on our return centers around a timely interview with Richard Epstein on income inequality.

The Occupy Wall Street movement and the Obama administration try to avert attention from runaway government spending and expensive regulations as the causes of our prolonged economic malaise by attacking capitalism. They focus on statistics about the growth of income over nearly thirty years that conveniently ends in 2007, right before a downturn that resulted in greater percentage drops in income among the top income earners. They want to tax higher income earners even more when they already carry the bulk of the tax burden and about half of Americans pay no income tax at all.

Richard Epstein, a law professor at New York University, explains why unequal outcomes are essential for motivating people in a free economy. American voters need to understand his argument if we want to change the direction America is headed in the election less than a year from now.

We hope that the eventual Republican presidential nominee will be able to make the case for economic freedom as well as Richard Epstein.

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Dawn January 22, 2012 at 3:32 PM

Cronyism capitalism of today is not capitalism. Govt spending is in part to blame for growing income inequality due to politicians hijacked by special interest money, to fund financial market bailouts. Even Reagan’s budget director whom crafted the trickle down economic policy, has been the whistle blower of that farse and failure. Occupy wall street is pushing to restore democracy by eliminating special interest money supporting wall street and corporate entitlements. Obama is the only one that can be counted on to try and correct the tax code inequality and unfunded tax cuts only benefiting the super-rich. Wealth has been redistributed from the poor/middle class to the rich under the guise of trickle-down.

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