American Elephants


Class Warfare, Self-Reliance, Envy and The Benefits of Income Inequality by The Elephant's Child

President Obama’s suggestion that if he loses the 2012 election “it might herald a painful era of self-reliance in America,” is still bothering me.  Self-reliant people are those we call — adults. And how interesting that he would come up with that as he praises the Occupy people, proposes to reduce the payments on student loans (by an impressive $10 a month), and in every way suggests that Americans are children who must be cared for.

This is why Liberals promote class war. Hate and envy for “the rich;” the Occupy people separate themselves into the 99% and the 1%.  The 1% are the rich — who deprive the 99% rest of the country — of what? Their money? Their possessions? Their influence?

Well, excuse me. I don’t care to be grouped in any 99% with the economically illiterate freeloaders drumming and chanting in squalor.  They do not represent 99% of anything. There are around 330 million people in the United States.  If you had an Occupy protest in two cities in each state, you would have to have 33,000 deadbeat occupiers at each protest to equal 1% of the 330 million people in the country.  They are just the other not quite 1%.  They have an exaggerated idea of their own importance, but tourists do come to look at the squalor.

Their motivating ideas seem to be their own student loans, or their unemployed state, or just general lethargy. In general the motivation seems to be the idea of increasing inequality. Since the poor cannot get poorer (though this is probably false, since we have very affluent poor, as demonstrated by their iPads and iPods and laptops) if the gap between rich and poor grows, then it’s no fair— the rich must be getting richer. In this recession, the rich aren’t as rich as they used to be either.

The whole thing, however, assumes that equality would be a good thing. Why would anyone assume that? Is it unfair if the fellow who worked long hours all his life to get an advanced education, build a business, and make it grow becomes richer than the deadbeat who dropped out of high school, dabbled in drugs and petty crime and never held a job for long?

Liberals have long focused on inequality and the unfairness of it all.  They cannot get their minds around the idea that inequality might possibly be a good thing.

I am a great admirer of Richard Epstein, Professor of Law, Scholar at the Hoover Institution.  He was invited as a contrarian speaker to the PBS News Hour’s series on “Inequality in America”, making sense of economic news.  This is not a video I can embed here, but here is the link. Professor Epstein is wonderful to listen to, explains clearly why economic inequality is a good thing.  It is a marvelous video, and great fun to watch the PBS host’s head explode. (They must wish they never invited him). Poor interviewer Paul Solman is flummoxed, incredulous, unbelieving!  How would anyone say such things!  But, but.. It’s great fun, and you may want to watch it several times to catch all of Epstein’s ideas.  PBS probably never heard such ideas before.


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