When old landmarks crumble, established roads no longer lead the way. New paths open to those with an irregular eye. Our news is unfit for print.
How you can tell that while millions eke their way through lean times, America’s rich are doing just fine:
In the Williams-Sonoma holiday catalog, they’re selling hand-crafted marsmallows for a dollar. That’s not a dollar a bag; the price is a dollar per marshmallow.
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So the rich know how to make a profit. Good for them.
The people who design and make these handcrafted marshmallows aren’t rich. The people who own the capital from their mumsies and dadsies to skim off profits from the work of the employees of the Williams-Sonoma company and who hire other people to come up with a design and process handcrafted marshmallows are rich. The two are not the same.
How many of the people buying handcrafted marshmallows are doing well now that the financial sector has been bailed out by working Americans, I wonder. Now that their trust funds are doing well again, the rich little sweeties can buy marshmallows for a dollar each, while teachers, carpenters, factory workers, police officers and nurses pay through the nose on the $800,000,000,000 debt that was run up to get the poor dears to be able to buy their fancy marshmallows again.
The rich get money wherever and however they can. And we let them. Good for them. Bad for everybody else.
OK, so let’s tax the rich so they are poor and put everyone out of work. Good plan.
What were the income tax rates in the booming 50s and 60s?