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Income Distribution in America

Posted by Larry Doyle on March 13, 2013 6:19 AM |

I would like to believe I am the ultimate free market capitalist. I embrace and respect those who take risk and embody the entrepreneurial spirit that is the engine of our nation.

I detest and abhor those who utilize their positions to further a spirit of crony capitalism in America. I would count many of our politicians from both sides of the aisle in this camp.

How do we advance the former group while exposing the latter? Well, that is a topic for another day.

Today let’s review a brief video (thank you to the readers who brought this to my attention) that some may like to use to advance a liberal agenda of income redistribution. I strongly believe that approach would be an enormous mistake, and merely serve to perpetuate and exacerbate our current problem with cronyism and government handouts/bailouts. Watch the video, and then I’ll make a few comments: 

I think this video on income distribution in America should be used to indict the cronyism that promotes an elitist class in our nation, while also being used to indict our government that has supported special interests and programs that have done nothing to promote the growth of families and education. I view those as the two vehicles needed to help people advance.

Regrettably, many a politician would be inclined to use the video as a means for thinking they can somehow “fix” the problem, while those same pols continue to feed at the troughs that have brought us to our current position. The ultimate example of “the inmates running the asylum.”

Is there any doubt that the current state of affairs in America is anything but healthy? To think that Uncle Sam can extricate us from this mess strikes me as foolhardy. I believe the old man — and his cronies and sycophants alike — got us into this mess in the first place. Kill the cronies (figuratively speaking, mind you, by reforming the tax code), redirect the sycophants to private programs that will help them learn how to help themselves (i.e. a hand up not a handout . . . think charter schools as an example, folks) and tell Uncle Sam to get the hell out of the way.

Then, just maybe, America might have a chance to get back on track.

What do you think?

Larry Doyle

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I have no business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.

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