Note to a friend - Redistribution of Wealth posted 11/21/2008 11:47:10 PM | 6 kudos what's this?     report abuse

Bluesman859

I've been too busy to spend much time on Matchdoctor for the past several months, but felt this note to a friend concerned about the much touted "Redistribution of Wealth" scare is worth posting.

I'm afraid you have been mis-informed concerning the notion of redistribution of wealth. The redistribution of wealth has already occurred. In fact, the greatest transfer of wealth in the history of the planet occurred with the Bush tax cuts. His tax cuts were not for you and I. 95% of the cuts went to a very small percentage of the country's wealthiest people. This is money that was not collected as taxes. This is money that was not used to build or improve the Commonwealth of our nation. You know, things like - transportation infrastructure, parks, schools and universities, libraries, health care, and social security just to name a few. This physical infrastructure and these institutions are the "Common-Wealth" of our nation. They belong to everyone. They are the foundation that has made us strong and economically viable. The great transfer of wealth was from our "Commonwealth" to the already wealthy.

To add insult to injury, a second massive redistribution of wealth occurred with the inconceivable amount of debt run up during the past eight years - much of it associated with a controversial war that has transformed into a political, social, and economic quagmire. It's placed a huge burden on this country's future. The amount of interest on our national debt is staggering. Printing money to service this debt will cause inflation. Inflation is a tax on everyone. It's another form of transferring wealth. You're grandchildren will be paying off this debt. This is all money that will never be spent on our Commonwealth. It's criminal.

A third and arguably most damaging redistribution of wealth is also currently in progress. The unregulated financial institutions have been allowed to create the worlds greatest "Ponzi" schemes - sucking in the entire planet - causing financial Armageddon. The bail out money, now being used to shore up banking reserves (not being lent out as intended), is a massive redistribution of wealth. The financial institutions have put a gun to the head of the nation - either bail us out - or the economy will crash and burn. While profits are always privatized, losses are now being socialized. Bail out money is money that will never be spent on the Commonwealth. (See "What Happened" Blog)

Now with global recession, and probably depression followed by hyper inflation on the horizon, there is no chance that we will have the economic where-with-all to reverse this process. Money is being sucked out of retirement and pension funds, 401K and IRA's, University endowments, personal savings, municipal investments - and going up in smoke. This is destroying our economy and tax base at all levels. There will be no money for the Commonwealth. This country will suffer dearly.

The lame-stream media has brainwashed the sheeple into believing that redistribution of wealth means giving our hard earned dollars to Cadillac driving welfare moms. It's nonsense. There are a lot of poor and needy people in this country worthy of help. The percentage of our budget spent on them is insignificant.

If redistribution of wealth means cutting back on massive, un-financed government spending, collecting more taxes from the most wealthy who can best afford it, and redirecting it to fund our Commonwealth - then I'm all for it. Bluesman

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Blogs by Bluesman859: Outlook - 2009 What Happened ??? Note to a friend - Redistribution of Wealth Heart Rendering Holiday Bali High Who Are You ? Paradigms Letter to a confused friend