Props to the President. Another Baltimore moment.
But...
This is the sort of stuff that frustrates me with Obama. He clearly understand
s the problems. Clearly. But he totally blows it on what the solutions should or could be. For example:
"...growth and gains in productivi
ty just didn't translate into rising incomes ... for the middle class. That's not something necessaril
y we can legislate, but it's something that all of us have to take responsibi
lity for thinking about."
Why "think about it" when it's BEEN legislated before!?!? Tax rates are legislated
. From the 40s through the 70s, the span in which all income grew at the same rates, the top tax rates were incredibly high. Capital gains were taxed higher.
The effect was to limit the tomb raider approach that our vaunted titans of industry do today to congratula
te themselves for profits driven by the work of the unwashed. You couldn't keep it, so no point in taking it.
It's great to have a President so sharp and understand
ing of the problems. But without a forceful push toward real solutions, he is an evangelist
, not a leader.
When he gave away all his leverage on the tax cut and inheritanc
e tax issue (didn't pursue budget reconcilia
tion), he quit on making the smallest step toward dealing with the upward redistribu
tion of wealth problem at the core of our economic decay. The President needs to surround himself with problem solvers instead of status quo corporate lapdogs.
Read the Article at HuffingtonPost
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