When the left is not predicting doom, they are pointing fingers – common targets being the fed, the rich, Washington and ‘greedy’ employers that refuse to pay their employees a ‘livable wage’ for the job of inquiring patrons about wanting fries to go with their burger. They hate success and America’s exceptionalism, so anything
that makes the rich lose money – crisis, recession, taxes, regulation, and raising interest rates – they anticipate and instigate with glee. We’re becoming a nation of crybabies, deriving enjoyment from failure instead of success, spreading wealth instead of creating it.
The left is always predicting doom and gloom because they have little faith in humanity. Without their maternal welfare state and our fealty, the world is doomed. Their belief in the stock market being a bubble and rigged, that humanity has become more violent, that IQ and SAT scores are meaningless, or that the U.S. economy is weak or still in a recession is a reflection of their own biases and divorced of the reality they willingly choose to deny.
We recommend voting for Jeb Bush because he supports the the trio of conservatism: free markets, low taxes, and defense spending. While Mitt Romney won over independents with his moving story of being unemployed and his private sector experience, we look forward to hearing Jeb’s own narrative throughout the campaign- that is assuming he runs. His stance on immigration is controversial, but he understands a free market shouldn’t limit its labor options. The left wants protectionism and all the welfare program to themselves, and although we do need better border control, we should increase the h-1b visa cap to skilled immigrants. Maybe Facebook stock would be higher if tech wages were lower. According to Milton Friedman, “The Social Responsibility of Business is to Increase its Profits”. Everyone benefits when wages aren’t too high. Low wages benefits Walmart shareholders with bigger profit margins and cheaper goods benefit consumers.
As we go forward, according to Krugman, Piketty’s thesis says that even though inequality is already a huge problem, it’s going to get even worse. “Unless something gets better,” he explains, “we’re going to look back nostalgically on the early 21st century when you could still at least have the pretense that the wealthy actually earned their wealth. And, you know, by the year 2030, it’ll all be inherited.”
Sounds like cry me a river. Just more blaming the 1% for everything. That is the best argument they can muster. No facts, just vague threats of upheaval and crisis if wealth doesn’t become more equal.
Again let’s turn to actual data. From http://www.chicagobooth.edu/capideas/magazine/summer-2013/billionaires-self-made
Most individuals on the Forbes 400 list did not inherit the family business but rather made their own fortune. Kaplan and Rauh found that 69 percent of those on the list in 2011 started their own business, compared with only 40 percent in 1982. In other words, there are fewer people on the Forbes 400 list who came from an affluent background and eventually took over the family business, such as brothers David and Charles Koch (Koch Industries) and the Walton siblings (Wal-Mart), and more self-made people such as Bill Gates (Microsoft), Warren Buffet (Berkshire Hathaway), Philip Knight (Nike), and Stephen Schwarzman (Blackstone Group), who had an upper middle-class upbringing and eventually built their own successful companies.
We can also add all those newly minted tech billionaires to the list of non-inherited wealth.
If the left wants to beleive America is in decline becase the wealth isn’t being distributed sufficiently fairly, so be it.