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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.

  • LD

    Speaking of which,

    The U.S. Department of Agriculture is considering buying 400,000 tons of sugar—enough for 142 billion Hershey’s Kisses—to stave off a wave of defaults by sugar processors that borrowed $862 million under a government price-support program.

    The action aims to prop up tumbling U.S. sugar prices, which have fallen 18% since the USDA made the nine-month operations-financing loans beginning in October. The purchases could leave the price-support program with an $80 million loss, its biggest in 13 years, said Barbara Fecso, an economist at the USDA, in an interview.

    Big Sugar is Set for a Sweet Bailout

    • Obsvr-1

      Gives a new meaning to “Uncle Sugar”

      If we could only return to a Competitive Free Market … let’s try that for a while.

    • Peter Scannell

      I wonder will the CEOs and Board Directors of American Crystal Sugar Co., Amalgamated Sugar Co. and U.S. Sugar Corp. be receiving their bonuses and perks as usual?

  • Obsvr-1

    Income distribution is a drop in the bucket compared to Wealth Distribution

    100 years of FED intervention, plutocracy, corporatism and crony-capitalism has continuously sucked wealth from the working class to the elites.

  • Peter Scannell

    This stunning presentation of the inequality of wealth in America is singularly the most powerful presentation of the plight we face as a nation.

  • Poor Richard
  • Pat

    The growing income inequality in America is very disturbing and fuel for future social unrest. Each day there is more depessing news which points to how the system is rigged against the “average joe” while the corporate elites enjoy their spoils. Until there is some lobby reform the elites will keep fundig the rich and powerful lobby industry to ensure the status quo.

    Yes, LD, our current tax laws are in need of serious change as the below artices show how many US Corps avoid paying their fair share of US taxes

    If Corporations Don’t Pay Taxes, Why Should You?

    The following article lists 30 US corps which pay more to lobbyists than they do in US taxes

    30 Major US Companies Spent More on Lobbying Than Taxes

  • GMA

    A very clear article out yesterday on how “government” in the state of Illinois has committed Pension Fraud. Anyone who thinks the government, at any level, is a bastion of lofty ideals and morals is sadly mistaken. What a mess!

    Illinois: From Deadbeat to Fraud

  • Van

    MR DOYLE THE PROBLEM IS THE PEOPLE. THE 99%,,, THE 1% AS WELL AS ALL THE ENEMIES OF REAL FREEDOM, HAVE FOR SOME TIME KNOWN THE REAL WAY TO SUBJECT A COUNTRY IS TO CONTROL THE MONEY

    THEY DO IT WITH THE VOTES, THAT IS HAPPENING ALL OVER THE WORLD AS ANYONE CAN PLAINLY SEE. IT HAS CERTAINLY HAPPENED HERE.

    FOR ONE TO THINK THAT THE MASSES HAVE ANY CAPABILITY TO GOVERN THEMSELVES IS JUST PLAIN DREAMING. THEY WILL ALWAYS VOTE FOR THE “FREE RIDE”. FROM THIS COMES THE GIFT OF POWER TO THE FEW, WHO KNOW WHAT TO DO WITH POWER. BUY ALL THE POLITICIANS.

    AT THIS POINT IN TIME, THE MASSES OUTNUMBER THE PRODUCTIVE PEOPLE IN MOST COUNTRIES. THEY ARE TAUGHT TO WORSHIP MONEY, EVEN JUST ENOUGH . JUST ENOUGH IS MUCH BETTER THAN NOTHING.

    WITH ALL THAT, EVEN THE FEW ARE FACED WITH SOME PROVISION TO ALLOW THE EARTH TO AT LEAST FEED THE MASSES, OR THEY WILL REVOLT.

    BILLIONS ARE AT OR NEAR STARVATION, MANY RIGHT HERE IN THE US.
    THEY HAVE MADE OF US, THE NATION, NOTHING MORE THAN CONSUMERS DEALING WITH COUNTERFEIT MONEY BASED ON NOTHING.

    PERHAPS THEY HAVE GONE TO FAR. IF SO, THEY HAVE MADE A VERY BAD MISTAKE.

    THIS IS NOT NEW, BUT IS NOW FULL BLOWN IN PRACTICE, WHILE SOME SELL OUT VERY CHEAP……FOOD STAMPS, OTHERS SELL OUT FOR VERY MUCH MORE.

  • Russ

    I have several thoughts about this video:

    1) of course people are falling behind, the opportunities aren’t there any longer and the government is essentially saying to those disenfranchised people “don’t worry, we’ll give you free stuff.”

    2) The people who are making the staggering sums of money are the Wall Street insiders, who are the huge contributors to both political parties. The effect of those contributions has even crept into the court system, as the Appeals Court (Second Circuit) has decided in favor of SIPC (Wall Street) even when the law is CRYSTAL CLEAR. There is absolutely NO ambiguity in the way the law is written, yet, SIPC litigates and wins (the definition of net equity).

    To take it a step further, the courts have decided that the Madoff Trustee does not have standing to go after JP Morgan, a co conspirator (to recover money) but it’s OK for him to sue VICTIMS.

    The only people who will be able to get fabulously wealthy are those who bribe with the scumbags in the government with hefty contributions to their re-election campaigns.

    OUR GOVERNMENT IS TOTALLY CORRUPT.






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