Judge Andrew Napolitano’s Fox Business Channel show, Freedom Watch, is fast becoming my favorite television talk show. He regularly has great guests such as Lew Rockwell, Ron Paul, Walter Williams, Tom Woods and Jesse Ventura.
This morning he had on his show, tell it like it is investor, Jim Rogers.
The Judge asked Rogers about Nobel laureate and NYT columnist Paul Krugman, who is calling for a huge new government spending program. Rogers said Krugman "is an idiot" and "doesn't know anything about economics." Go Jim!
Rogers also said he owns gold, but is more bullish on silver right now.
Economist Walter Williams followed on the show explaining why a tax on corporations and "the rich", i.e. the super-productive, will ultimately result in a burden for everyone else.
I don't get it.
ReplyDeleteThe so-called "super rich"/ "super-productive" are those corporations and individuals who appear to have profited most from the misery of the lower 90%.
Aren't these the same CEO's and chairpersons who getting huge bonuses off of bailouts, or profiting from the laying-off of millions of workers and the restructuring of union contracts?
These folks are already a burden on everyone else.
"Aren't these the same CEO's and chairpersons who getting huge bonuses off of bailouts, or profiting from the laying-off of millions of workers and the restructuring of union contracts?"
ReplyDeleteNo, they aren't. Only the very, very few politically connected people were able to run the scam they did. The overwhelming majority of the rich are not what you describe. They are hard-working people that are do exactly what they are supposed to do, deliver products and services to the people that want them.
You want to attack all of these people because of a handful of liars. It'd be like me trying to take money from the entire state of California because of the evil/stupidity of a few hundred people living in that state.
In a free market, there would be no bailout. Free markets are a profit and loss system, when the government gets involved, the loss is then spread about the populace instead of the people that actually caused the problem. So everybody suffers, except for the politically connected scum bags. The only solution is to get the government out of the market.
"You want to attack all of these people because of a handful of liars".
ReplyDeleteWell this sounds like the same argument made in defense of welfare programs... I guess its just a matter of perspective.
"In a free market, there would be no bailout. Free markets are a profit and loss system, when the government gets involved, the loss is then spread about the populace instead of the people that actually caused the problem. So everybody suffers, except for the politically connected scum bags. The only solution is to get the government out of the market."
ReplyDeleteThe government IS the market, or at least a substantial player/interest in it since 1913. Likewise, when one says the "rich"--which is who you are talking about(say $250k to $1M income)--that is not the same as the "super" rich, who are that 1-10% at the extreme end. Rethink my comment from there and it makes more sense.