The Towering Financial Acumen of the Left -- Spittled-laced Balloon Juice insists Rich Must Get Poorer to Make Things Gooder

Like clockwork, the Obama sycophants in legacy media publish the same, tired story they run every year about this time.

The gap between the wealthiest Americans and middle- and working-class Americans has more than tripled in the past three decades, according to a June 25 report by the Center on Budget and Policy Priorities.

New data show that the gaps in after-tax income between the richest 1 percent of Americans and the middle and poorest parts of the population in 2007 was the highest it’s been in 80 years, while the share of income going to the middle one-fifth of Americans shrank to its lowest level ever.

The CBPP report attributes the widening of this gap partly to Bush Administration tax cuts, which primarily benefited the wealthy...

[Ed: Gee, that's a unique theme]

Of the $1.7 trillion in tax cuts taxpayers received through 2008, high-income households received by far the largest — not only in amount but also as a percentage of income — which shifted the concentration of after-tax income toward the top of the spectrum.

And the economic illiterates running the socialist blogs -- like John Cole at Balloon Juice -- insist that the rich get poorer. Because that way, they'll hire fewer people, quit plowing money into startups and capital investments, and otherwise stimulate the economy.

In all seriousness, what I do not understand is why don’t people realize this is unsustainable? How do people expect the economy to grow when 3/4 ofthe [sic] nation is too broke to buy anything?

Considering 20% of the country is either unemployed or under-employed, perhaps jobs might help.

Gee, I wonder who creates jobs? Would that be the entrepreneurs, wealthy investors, risk-taking business owners -- all of whom, by definition, must have capital to spare in order to freaking hire people? You know, these leftists are so damn dumb I'm astounded they're able to survive driving to the grocery store.

Consider the following two gentlemen, two of the detestable wealthy contributing to this awful disparity -- since they possess tens of billions of dollars between them.

The Incredible Wealth of Page and Brin

Eleven years ago, Larry Page and Sergey Brin were students at Stanford. They were then members of Obama's oppressed "poor".

Just nine years later, Page and Brin were worth a combined $36 billion as the founders of Google.

What the Left's economic illiterates can't or won't understand is that wealth disparity is wonderful. It allowed Page and Brin to create, achieve, construct a company from whole cloth, employ thousands and produce hundreds of other millionaires.

Now, of course, they're among the vile rich.

Take more money from the business owners, you get less venture capital, less investment, less business growth and -- ultimately -- more malaise.

Gee, Johnny, that's not too hard to understand, is it?

You see, what's important is not wealth disparity, it's the ability to move between economic classes that makes America unique. Of the top ten wealthiest members of the Forbes 400, six are self-made billionaires.

But, gee, they made too much money, hired far too many people, and contributed way too much to the advancement of society.

Perhaps one day Johnny Cole can take an econ class, so he can figure out all of this incredibly difficult stuff. In the mean time, weep for the poor drones and lemmings who read -- and believe -- this brand of runny excrement.


Update: 'The Government Needs Money'


Linked by: Michelle Malkin. Thanks!