The Daily Reckoning…proved right again!
We’ve been sticking our necks out. We had a strong hunch that the rich had gotten a whole lot richer not because they were suddenly greedier or suddenly smarter, but because of the feds. The feds were handing out money. The rich were first in line. But we didn’t have any real proof…until now.
Relatively speaking, the rich have gotten a lot richer over the last 30 years. The whiners and fixers want to do something about it. They say the rich weren’t taxed heavily enough…and they weren’t regulated enough.
That had little to do with it, we pointed out. Instead, the meddlers themselves caused the rich to get richer.
Who’s right? We are, of course…