Many of our contemporary multimillionaires and even billionaires recognized Obama's charisma as potentially the first African-American president and believed they could crony up to him
Well, if some frog says it, I guess I’m gonna just get out there and equalize what money I have with those that don’t want to do anything for it. Should take about 35 seconds or so.
The growing inequality and concentration of wealth is due to differences in individuals with respect to ambition, intelligence, prudence, willingness to take risk, and ability to delay gratification. No other explanation required.
I knew Milton Friedman. He was an economist, if not The Economist. This Marxist-du-jour is no Milton Friedman.
Someone who makes $40 million a year can pay a 75% tax and still maintain a mansion, a vacation home, and travel the world. However, the trucking company owner from Lincoln, NE who merely makes $500k a year cannot pay such a high tax rate and still enjoy an effluent lifestyle. The super-rich don't like having the hired help, like their doctors and contractors, showing up at their clubs or vacation spots. God forbid, that neurosurgeon might save some money back for a truly extravagant Vegas vacation and book the penthouse for a couple of nights. Then George Clooney has to live with the uncomfortable reality that some 'nobody' slept on the same bed he's in.
bttt
His book is basically Das Kapital for the 21st century.
Bump!
“French Economist” is a contradiction in terms.
The left uses undefined terms like “super rich” so that everyone has their own interpretation.
In all leftist and LIV minds it means “anyone that has more than me”.
In reality, it becomes “anyone that owns ANYTHING”.
if the Feds continue QE of course this will translate to a greater separation of wealth, those that have stocks/assets will get richer, those with nothing stay where they are.
Obama (influencing Fed) is creating the exact problem he says he wants to solve.