Friday, October 31, 2008

The Rich and Obama the ReDistributor

As I’ve noted elsewhere, the really rich have options about when, where, and how to take income. The middle and upper middle classes, and those with Joe the Plumber like aspirations of moving up in the world, are at a tremendous disadvantage, since they depend largely on wage income.

Shannon Love goes on make the further points that for the really rich, it’s comparatively easier to use political manipulation to game the system to protect your interests.

Indeed, progressive taxation can largely be viewed as a significant barrier to entry to the world of the wealthy.

It’s always easier to influence some politicians and bureaucrats to protect your interests, rather than have to face real competition in the market place.