looking at current events through a different lens


A Score for the Supply Siders
November 7, 2006, 3:21 pm
Filed under: Blogroll, economy, luxury items, money, Uncategorized, wealth

Just in case you’re tempted to be insanely envious of Wall Street wizards who are lining their pockets with bonuses after a good year ( http://www.newsday.com/business/ny-bzbonu074964689nov07,0,271479,print.story?coll=ny-business-print ) Read the full story to see how their good fortune helps us all. Case in point, the increased earnings will cause a ripple effect reduction in New York City’s deficit (so it’s a boon to taxpayers). There will be a spending spree on high priced luxury items (cars, jewelry, real estate) which just continues to spread the good fortune. To hear the proponents of wealth redistribution through force (read “punitive taxation”) tell it, this money will just dissappear into a black hole if those who created it in part are left to their own devices. Try and explain this to the hundreds if not more who make, service and sell the high priced items these bonuses will be buying. No, even though I personally don’t have whatever it takes to earn such bonuses; I am thankful for the role in a free economy that those who do, have to create markets for the rest of us to fill.