(Stool Pigeons Wire) December 21, 2009 – The relentless lowering of the top tax rates and capital gains rates and the effective corporate tax rate has been causal of everything the critics of the status quo rail at. Not tangential, causal. This is the ideological divide that cannot be crossed. The free market of necessity, free of redistribution by taxes, distributes income assets and power to the top. This is an iron law. Embrace it, accept it and don’t complain about it.
For 30 years, perfectly coincident with lowered taxes at the top, income and assets have skewed to the top and growth has slowed. That’s a long enough experiment to prove the case. This is the result of the elimination of progressive taxation and the favorable tax treatment of speculation over working for wages. If the government doesn’t distribute income and assets the banks and Wall Street will. Pick your poison. Economics is just another name for politics.
A stupendous ideological mansion has been built that defines freedom as exactly what we have now. Goldman Sachs running the Treasury. I don’t know why all the carping about it. It puzzles me.