Good ‘Ole NY Times – They LOVE Class Warfare
Last Sunday, the NY Times had an article on their front page. It was the latest installment of the tired saga… "Mr. Rich is a Boogey Man Because He’s Getting Richer." Here’s the
Democrat propoganda article. I’ve written about this in so many ways, I think I’ll let someone else much more qualified than I am to explain it. Larry Kudlow does a marvelous job over at National Review. Here’s a great quotes from his article:
Johnston singles out the top 145,000 taxpayers who comprise the top 0.1 percent of income distribution in 2002. Their average income was $3 million, two-and-a-half times the inflation-adjusted $1.2 million that the group reported in 1980. My gosh — how dare they be successful earners and investors? Over that 22-year span, this group probably included the very same people who launched tens of thousands of new companies that hired roughly 40 million net new workers that completely revolutionized the U.S. economy through unbelievable breakthroughs in the realms of information technology, communications, finance, health care, and retailing. Should we go out and shoot these 145,000 for their success? These entrepreneurs use their God-given talents within the Reaganesque free-market framework that deregulated, slashed tax rates, and provided the first strong dose of economic incentives since the 1920s. A rising economic tide over the last 20 years has lifted living standards, productivity, and employment throughout America. Everyone got richer, with a full $39 trillion in new wealth created during this period. That’s why the unemployment rate has been averaging 5 percent over the past 10 years, with non-financial productivity running about 5 percent and inflation virtually nil.
If you are at least 30 years old right now, I challenge anyone reading this to look back on their childhood memories and let me know if any of you are worse off right now than you were when you were growing up. I would venture to guess the percentage that are worse off is negligible. Please, please, please don’t let the libs snooker you into this class warfare crap.