Skip to comments.Paul Krugman: The Undeserving Rich (Here it comes!)
Posted on 01/20/2014 1:52:38 PM PST by 2ndDivisionVet
The reality of rising American inequality is stark. Since the late 1970s real wages for the bottom half of the work force have stagnated or fallen, while the incomes of the top 1 percent have nearly quadrupled (and the incomes of the top 0.1 percent have risen even more). While we can and should have a serious debate about what to do about this situation, the simple fact American capitalism as currently constituted is undermining the foundations of middle-class society shouldnt be up for argument.
But it is, of course. Partly this reflects Upton Sinclairs famous dictum: It is difficult to get a man to understand something when his salary depends on his not understanding it. But it also, I think, reflects distaste for the implications of the numbers, which seem almost like an open invitation to class warfare or, if you prefer, a demonstration that class warfare is already underway, with the plutocrats on offense.
The result has been a determined campaign of statistical obfuscation. At its cruder end this campaign comes close to outright falsification; at its more sophisticated end it involves using fancy footwork to propagate what I think of as the myth of the deserving rich.
For an example of de facto falsification, one need look no further than a recent column by Bret Stephens of The Wall Street Journal, which first accused President Obama (wrongly) of making a factual error, then proceeded to assert that rising inequality was no big deal, because everyone has been making big gains. Why, incomes for the bottom fifth of the U.S. population have risen 186 percent since 1979!
If this sounds wrong to you, it should: thats a nominal number, not corrected for inflation....
(Excerpt) Read more at nytimes.com ...
The entire article boiled down to one sentence:
“It sucks I am not one of them (the rich).”
This coming from a guy who is supporting the crony capitalism and government that is destroying the middle class.
Methinks Krugman hasn’t spent enough time at Walmart. If he had, he would see the undeserving poor and their character issues firsthand.
Krrugman’s net worth is 2.5 million.
Share the wealth (with me), Paul.
Profit is an ugly thing, except for the liberal getting profit, of course.
It was 10.5 before he started following his own advice.
Someone should point out to the mental midget that the rise of percentage at the bottom is because A) Government handouts have ballooned under BroncoBama giving the takers no reason to work for it and B) Double digit unemployment again thanks to Bronco’s economic policies and ZeroCare might just play a role in his calculations.
Why should we pay attention to anything a columnist or reporter says from the NY Times. Now if it was from the Enquiror we might be able to believe and trust in it, but the New York Times. come on?
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An extremely wealthy woman showed me how to put on an upholstery package for my ‘68 Mustang today. While I was there she took several calls for two of her businesses. I’ve been there late on a Sunday and at 9:00 PM, she’s still transacting business. I’ve never worked as hard as her. She deserves every penny. (Incidentally, it was in the forties and her house heat is off. She only turns it on when it’s in the thirties.)
As I found out when working in sales, the more calls I made, the “luckier” I got.
There is noboby more undeserving than Krugman and his Nobel Prize.
You forgot BHO?
“She only turns it on when its in the thirties.”
I’m pretty thrifty, but I’d have to move to a warmer climate before I’d even consider this!!!! I cannot work sitting in front of a computer if its this cold. I’ve tried and failed :-). I’ll save money elsewhere :-).
I saw something this weekend that really brought this home to me. My kid's scout troop did an overnighter for some snow sports and a weekend at a cabin. One of the dads who is really active had to leave early because he was pulling a night shift on Saturday night. One of the other dads asked him where he worked and he was too embarrassed to say. He just answered that hope and change wasn't working out so well for his family. Turns out he has been pulling down a couple night shifts a week doing janitorial work because he got furloughed from his regular job.
This guy is really nice and puts on a brave face, but he is going through his late forties struggling to survive. All the while the admisitation is touting their ginned up employment numbers,
Think of this:
The Liberals Demand that we teach our children Evolution in school when they grow up and to think that Creative Design and Divine Intervention are a fantasy.
All at the same time they are paying some of those parents who have kids in the those same failing schools not to work, but instead they are using “Government Divine Intervention” to pay their parents to have more kids and not to work. All while taking money from the evolution winners of doing hard work.
How can Liberals be so blatantly schizophrenic that their own policies are an anathema to their supposed “ideals”....?
That is because the “ideals” are not “ideals” but a means to an end, instead they are a tool for their REAL ideal: That of lording power over in their colorful spiteful language the “masses”....
Nice another rich upper class white man lecturing us about the evils of wanting a better life.
Krugman is absolutely bankrupt intellectually.
Welfare, minimum wage, labor unions, big government, focusing on “income inequality” - these are all ideas rooted in Karl Marx. And anyone who wants these ideas is a Marxist - doesn’t matter if they call themselves “socialists” or “progressives” or “communists” or “columnist at the NYT”.
And what did Karl Marx want? What was his entire thesis of the Communist Manifesto?
Marx wanted the DESTRUCTION of the middle class. He HATED the middle class. He wanted their blood FLOWING in the streets.
Since that wouldn’t be feasible in a lot of places, he proposed the ideas above. He told his followers: implement high taxes. Push for regulations and labor unions. Fight “income inequality” using the power of the government.
That will destroy the middle class.
So here we sit in 2014. We’ve implemented all this Marxist drivel and Krugman is stunned that the middle class is taking it on the chin?
Give me a break.
Yeah - there is a widening divide between the rich and the poor because there’s nothing in between them. The middle class is being hollowed out.
But the middle class keeps voting for this...
The problem is poverty, without which democrats would lose all their power.
So his scam is to convince people that wealth is the problem.
[ This coming from a guy who is supporting the crony capitalism and government that is destroying the middle class. ]
Krugman still hasn’t figured out the real danger is the unholy alliance of Big Government and Big Business wanting a monopoly on Political and Monetary power, with both supporting each other to keep the middle class workers and merchants and business owners down...
Are you including Obama and his Nobel Peace Prize?
[ Marx wanted the DESTRUCTION of the middle class. He HATED the middle class. He wanted their blood FLOWING in the streets.
Since that wouldnt be feasible in a lot of places, he proposed the ideas above. He told his followers: implement high taxes. Push for regulations and labor unions. Fight income inequality using the power of the government.
That will destroy the middle class.
So here we sit in 2014. Weve implemented all this Marxist drivel and Krugman is stunned that the middle class is taking it on the chin? ]
The middle class is the ones that most likely stand up against oppressive control... this is why the marxists have to destroy it before finally seizing power.
Yes, I forgot his. Let me rephrase: There is no one less deserving of their Nobel Prize than Krugman, except for Obama.
I always believed the old saying: If you take all the money away from the rich and destribute it to the poor... in 6 months the rich will have it right back.
Can you say Illegal Alien?
The bottom half of the work force is unskilled labor. The encouragement of illegal aliens has flooded the unskilled work force market with illegal aliens that would not otherwise be here and there would be upward pressure on wages.
American capitalism as currently constituted is undermining the foundations of middle-class society shouldnt be up for argument.
American capitalism as currently constituted can not be compared to 1970 thanks to the Crony Capitalism that has taken its place. In 1970 the US was much closer to true capitalism than it is today and US dominated the world economy. Trying to compare the US of 1970 to the US of today is a false argument.
What is funny is that Billionaires like Gates, Buffett, Cuban, and others agree w Libs like Krugman and the “ Hate Rich Dude “ crowd.
Earlier today I read the unemployment among black teenagers was something like 35%.
Just maybe if the leftist Democrats stopped illegal workers from entering the USA, there would be good paying jobs for the unemployed blacks.
But the leftist Democrats want it both ways. Open borders and unlimited blacks on the welfare dole.
I hate turning on heat even on cool days in Florida. Put on more clothes if cold. Also central heat messes up the sinuses
Actually, it’s over 50%, IIRC.
Gov't inflation numbers are bogus.
There are plenty of undeserving rich. They are the ones who used the coersive power of government to get there. Any unionist with a fat pension, any congressman who started middle class and leaves a millionaire, any professor who takes large federal grants to produce the “right research,” and any crony capitalist who lobbies the government to kill competition.
Paul Krudman? Doesn’t he claim to be an economist or something? Has he won the No Bell Prize?
People can't see the Communism of these people, because it's right in our faces, and the perpetrators are masters of squid-ink obfuscation and lying.
E.g. anyone who made money off Solyndra, or is making money from companies that sell LED lamps and bulbs (to replace the economical incandescents the Regime conspirators want to ban).
Nothing wrong with work if it’s honest.
Upton Sinclair was about as Wobbly as they come. His "dictum" means nothing.
Stop importing millions of low skill workers, American workers at the bottom might get a raise.
Stop taxing and regulating American businesses to the point where they close up shop or move overseas, American workers might get a job.
Stop spending hundreds of billions on the education and healthcare of the millions of illegals (and their children) and we could cut taxes on all Americans, including the bottom half.
I'd love to see a breakdown, someday, of that 1%, and the 0.1%, as well, to see what occupations are represented.
I'm guessing that the most wealthy are represented by professional athletes and entertainers, while the just plain wealthy are mostly those who have worked their way up to the upper echelons of their chosen professions. The scions of earlier wealth are surely among those ranks as well.
My point is that the VERY wealthy are there because the folks in the lower echelons PUT THEM THERE, by buying tickets to sports events,or watching those events on television, or by buying tickets to the movies in which the stars appear.
Those wealthy are not stealing anyone's money, it's being given freely. There has always been, and will always be, a divide between rich and poor. The only way we know so much about it NOW is because of the media.
krugman and his ilk are why I think that they need to go after rich LIBERAL men and women and their wealth... you know... take half of all that krugman and rich progressives have and redistribute it to those they care so much about... hell the “poor” can use a few more obamaphones, 50” LCD panels, BluRay players, Air Jordans, all forms of digital entertainment and lots of ebt cards. Start pushing a wealth tax and watch the progressive blue blood communists squeal!
Krugman is another NY Slimes ‘Champagne Socialist’. And yes, intellectually dishonest. He is also a former Enron consultant.
Since those are years with big government in control, then the best we can say is that big government promotes a rich/poor society. In Obama's economy, those with the wealth to play in a stock market seriously inflated precisely because of government policies are those who are getting wealthy.
When you give a billion dollars to a software firm for a 5 million dollar job, like Obama did, then someone's getting fabulously wealthy in smoke-filled rooms.
But he is. Krugman is certainly in the top 50% and probably the top 25%, possibly much higher. Basically he’s “got his.”
This about pulling up the ladder and preventing competitors from catching up.
AN EXPERIMENT: Give each person $1 Million dollars.
Check back in 2 years. I would hypothesize that each person would be back financially to approximately where they are now.
Spending and saving habits are like the law of gravity. Ignore them at your own peril.
People who do not save an extra $100 in their pocket will likely not save that extra $1 Million in their pocket. On the flip side, those who go out of their way to save money will do everything thy can to protect that $1 Million.
There are too many unecessary services and money manipulations without the needed levels of production of useful things to support those services. We’re also living in a dump-on-your-neighbor regime that prevents new competition from rising.
So have fun. Enjoy the slide.
Where do you live? France?