Money For Nothing

Barack Obama's latest announced quixotic crusade is to dictate income equality.  Who would have ever believed that Napoleon the Pig would jump out of the pages of Orwell's 'Animal Farm' and land behind the desk in the Oval Office?  The most contemptible creatures are those who promise to improve the lives of everyone while working to improve only their own - fictional characters like Napoleon the Pig and real ones like Barack Obama.  Does anyone really think Obama gives a shit about income equality?  As usual, it is nothing more than an attempt to buy votes and improve his popularity rating.  Ironically, income inequality has increased in America at the fastest rate ever under Obama's reign.  That is not an anomaly.  It is a product of his agenda.

The fact is that income inequality is not necessarily bad.  It provides the incentive for people to work hard to get an education and get a productive job.  Education and innovation result in the  accumulation and enhancement of the base of knowledge that is the foundation for creating new products and generating progress (caveat - the jury is still out on whether or not video games represent progress).  Productive jobs lead to affluence and prosperity that improves standards of living.  Without rising living standards, civilization stagnates and remains stuck in a condition of survival of the strongest or the wealthiest, which is as far away from fairness and equality as one can get.

Certainly every society must have a system of safety nets that provides for access to food, shelter clothing and basic medical care for those truly in need.  But it should not make dependence on government an acceptable or comfortable lifestyle.  It is not the duty of society to provide money for cell phones, high definition flat screen televisions, abortions, birth control pills, sex changes, drugs, alcohol, downloading rap songs, pimped out cars and a life of leisure.

There is no question that many people in America make outrageous amounts of money while not really earning it, particularly those in the financial sector who often make money by taking advantage of others.  Personally, I believe it would be a good idea to raise marginal tax rates on those making more than half a million dollars a year.  But it is insane to blow up capitalism and destroy the human work ethic, a system that has produced the greatest prosperity in the history of the world, just because it has a few flaws.  The goal is to raise living standards for all, not punish those who generate progress.  The only way to do that is to accelerate economic growth through private enterprise and free markets, not income redistribution.  Income redistribution just drags everyone down to the lowest common denominator, except those privileged few at the very top dictating what is good for us.