Doing the wrong thing for the right reason

Tonight during President Obama's State of the Union speech that I'm not going to watch, he will request an additional tax on the wealthy in order to fund a cash distribution to middle class Americans. 

I read in the paper yesterday that by 2016 the 80 wealthiest people in the world will together own $1.9 TRILLION in assets.  Just last year it took 85 billionaires to equal that figure.  In other words, the rich are indeed getting richer.  The biggest gainers came from those with interests in finance, insurance, and health care.

"Well, yeah.  They're smarter, they work harder, and they deserve it", right?

Haha!  It seems by-and-large they got richer not by the sweat of their brow, but due to "multi-million-dollar lobbying campaigns to protect and enhance their interests."  They had connections.

That's the rub.  More people with more money to spend will mean additional profits for those who own the means of production...the wealthy.  Win-win!  Right now the wealthy are gradually strangling the goose that laid the golden (middle class) egg.  IMO we NEED more income equality, but just grabbing a chunk of the rich's cash isn't the way to do it.  

Aren't the foaming-at-the-mouth Tea Party types against government handouts?  Isn't a cash subsidy/tax break to the wealthiest just a high-class handout?  So why can't the Democrats and the Tea Party work together to end handouts?  (Love to be a fly on the wall in that conference room!) 

Come on Obama....wise up.  You're NEVER going to get a tax increase on the wealthy with the Republicans in control of congress.  But by holding the Tea Party's feet to the fire, making them produce on their promise to end government handouts, he just might have a chance.  End special favors, reform the tax laws, and income inequality will take care of itself.

And either the Tea Party will do what they promised, or they will be exposed as liars.  What's it gonna be, Tea Party?

They've seen the light!

I see in today's news that Congress is moving forward with a couple of pieces of legislation President Obama mentioned in his State of the Union address last week.  The "Stop Trading on Congressional Knowledge Act" would prohibit members of Congress from buying/selling securities based on inside knowledge they learned during hearings, etc.  Also, the "Buffett rule" is gaining headway, requiring those folks wealthy enough to have an adjusted gross yearly income of greater than $1M to pay a minimum of 30% of it in taxes.


I wonder if the "light" Congress has suddenly seen is the light bulb of a great idea that simultaneously clicked on in all their minds, or the light from all those torches being carried by the lynch mob assembled in the parking lot?  I also wonder how many obscure, innocent-sounding loopholes they've planted in their legislation?  (They're very good at that, you know.)


S