The View From 1776
Monday, October 10, 2011
The Rich Don’t Fit The Democrat/Socialist Party Stereotype
Read The Backlash Against The Rich, by Washington Post columnist Robert J. Samuelson.
The trouble is that the wealthy don’t fit the stereotypes: They aren’t all pampered CEOs, hotshot investment bankers, pop stars and athletes. Many own small and medium-sized companies. Half the wealth of the richest 1% consists of stakes in these firms. That’s double their holdings of stocks, bonds and mutual funds, according to figures compiled by economist Edward Wolff of New York University. Reid would pay for Obama’s jobs plan by taxing the people who are supposed to create jobs. Does that make sense?