Paul Buchheit, Common Dreams
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In his "Gospel of Wealth," Andrew Carnegie argued that average Americans should welcome the concentration of wealth in the hands of a few, because the "superior wisdom, experience, and ability" of the rich would ensure benefits for all of us. More recently, Edward Conard, the author of "Unintended Consequences: Why Everything You've Been Told About the Economy Is Wrong," said: "As a society, we're not offering our talented few large enough rewards. We're underpaying our 'risk takers.'"
Does wealthy America have a point, that giving them all the money will ensure it's disbursed properly, and that it will create jobs and stimulate small business investment while ultimately benefiting society? Big business CEOs certainly think so, claiming in a letter to Treasury Secretary Timothy Geithner that an increase in the capital gains tax would reduce investment "when we need capital formation here in America to create jobs and expand our economy."
Five Facts That Put America to Shame, Paul Bucheit, NationofChange.org
"Give me your tired, your poor, your huddled masses...I lift my lamp beside the golden door!" These words, from poet Emma Lazarus, were inscribed on the Statue of Liberty over 100 years ago. Today the golden door has a lock on it, paid for with record profits from the health care, education, and financial industries.