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    Elizabeth Warren: Everything you have belongs to us

    Elizabeth Warren: Everything you have belongs to us

    This is almost enough to cause me to rescind my Bye Bye Brown pronouncement, because Elizabeth Warren ascending to the Senate to replace Scott Brown would make Ted Kennedy seem like the good ol’ days.

    The progressives are in a lather about this video by Warren in which she proclaims an almost perfect theory of why redistribution of wealth must be government policy:

     “I hear all this, you know, ‘Well, this is class warfare, this is whatever,’” she said. “No. There is nobody in this country who got rich on his own. Nobody.

    “You built a factory out there? Good for you. But I want to be clear: you moved your goods to market on the roads the rest of us paid for; you hired workers the rest of us paid to educate; you were safe in your factory because of police forces and fire forces that the rest of us paid for. You didn’t have to worry that marauding bands would come and seize everything at your factory, and hire someone to protect against this, because of the work the rest of us did.

    “Now look, you built a factory and it turned into something terrific, or a great idea? God bless. Keep a big hunk of it. But part of the underlying social contract is you take a hunk of that and pay forward for the next kid who comes along.”

    In a sense, no one on the current American political scene has said it better — everything you have belongs to the state and the people.  You will be allowed to keep some of it, but it doesn’t belong to you.

    Remember, this is the woman Obama originally wanted to head the new Consumer Financial Protection Bureau.

    Warren still has to beat a crowded Democratic field, but my gut tells me she’ll do it because she is a new hero to the left.

    Update:  Listen to my interview on WRKO Boston about Warren’s ideology and hypocrisy.


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    DougV: The people who run businesses (those things that employ people) tend to be net tax payers,the “poor” are net tax receivers.

    Most everyone contributes to the federal tax burden. While nearly everyone is eligible for Social Security, the wealthiest tend to live much longer in retirement.

    DougV: I don’t think that a millionaire business owner gets to drive on better roads than a welfare recipient,

    But roads allow the business owner to get his goods to market. Everyone benefits from public roads.

    DougV: People with more money already “contribute back to society” more than people with less money, without getting a commensurate return.

    Yes, and most believe they should. However, there is a vocal minority who believe they have no obligation to society.

      DougV in reply to Zachriel. | September 24, 2011 at 11:57 am

      Enlighten me as to who this vocal minority is. By many statistics, the number of people who pay no Federal income tax is approaching 50% of the population. What is their obligation to society? Sure, they pay SS and Medicare taxes, but that (ostensibly) goes towards, well, our SS and Medicare. Not towards police, schools, national defense. Most people I know believe we should pay taxes. We just think that government has grown too large, and has its fingers in too many things. No one I know is against the government (state and local, generally) paying for police and fire departments, and road construction and maintenance. Many are opposed to the government telling restaurants how much salt they can put into dishes (to use an extreme example.)

      DougV in reply to Zachriel. | September 24, 2011 at 12:03 pm

      “the wealthiest tend to live much longer in retirement” – I would enjoy reading the background on that, too. Statistics or whatever you may have. Life expectancy isn’t the right gauge (as many poorer people die younger due to violence, etc., I have read) but statistics showing that once reaching retirement age, wealthier people have a longer life expectancy than poorer people, would be interesting.

      Also, Social Security caps “contributions” and benefits at some figure – around $106,000/year of earnings. So someone who made $1,000,000/year in earnings will get no more SS benefit than someone who made $106,000/year. Last I heard the Democrats weren’t yet calling $106,000/year “rich.”

    Zachriel: the wealthiest tend to live much longer in retirement

    DougV: I would enjoy reading the background on that, too.

    Cohort life expectancy at age 65 (and 95 percent confidence intervals) for male Social Security–covered workers, by selected birth years and earnings group

    It’s even worse for minorities. So on the one hand you have people often working menial jobs into late years paying a higher proportion of their income in payroll taxes receiving less benefit than those who work in white collar jobs who live longer and healthier lives.

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