Nearly 75 years later, Barack Obama, everyone around him in the White House and the kind of Democrats who migrate to Washington seem stuck in some sort of Ma Joad idea of the American economy.More. VDH: Why Not Soak the Rich? Not all of them are that wealthy, and hurting them won’t help the rest of us.
But they've gone FDR and John Steinbeck one better. In the world of the Grapes of Wrath Democrats now gagging over Barack Obama's "sell-out" to the rich, the new economic royalists aren't limited to "the Ishmael or Insull." Now it's any single person or married couple in America with a pre-tax income at $200,000 or $250,000.
Will the nation's new economic royalists step forward, rope in hand, to produce enough economic activity to help Mr. Obama to a second term of retribution? Maybe not. According to the National Association of Manufacturers, some 70% of manufacturing concerns in the U.S. have owners whose business is taxed at the individual rate (S corporations and the like). These are the people expected to commit capital to new hires and equipment.
Income levels are not static. And as we know, the very wealthy shelter their income bigtime.
More. Our golden goose is cooked. The American Thinker: Class Warriors Got What They Wished For.
A funny thing happened on the way to spreading the wealth: wealth dried up.In January, the new Republican House (Video--go Paul Ryan!!!) has got to roll back spending for starters. We can not afford this government at every level--nor can our children. Save your wrath for that.