Populist Presidential candidate Obama is sounding more and more like the President of Venezuelan. I reprint an article from an interview with African-American renowned economist, author and columnist, Thomas Sowell about his new book, "Economoic Facts and Fallacies":
Q: What is an example of a fallacy from your book?
A: "One is the income gap between the rich and the poor. It's maddening to me to keep hearing how the rich are getting richer and the poor are getting poorer, and so on. The fundamental difference is the difference between talking about abstract statistical categories and talking about flesh-and-blood human beings. Since my book came out, for example, there has been a study released by the Treasuary Department based on income tax returns. There they are talking about following the same human beings over a span of years, which is wholly different from following income brackets over a span of years, because in all the brackets more than half the people change in the course of a decade. So what happens to a bracket is an abstract question, what happens to the flesh-and-blood human beings is different.
For example, for the flesh-and-blood people who were in the bottom 20% of taxpayers in income in 1996, their average increase in income over the next decade was 91%-so they almost doubled their incomes. Meanwhile, for the people in the top 1%-presumably the rich who are getting richer-their average declined 26%. That's diametrically the opposite from what we are hearing from nearly every newspaper and practically every political platform.
But of course it's also true that if you look at the income tax brackets, the distance of the top bracket from the lowest bracket has increased. One reason is that the very lowest tax bracket is zero, so it can't go any lower. So as you pay people more and more money and as the economy grows and skills become more sophisticated, obviously the ratio from the top to the bottom is going to increase."
I have great respect for Thomas Sowell, Juan Williams, Colin Powell, William Strawberry,the columnist, Ward Connerly and thousands of other great black leaders. In the Journal Star we get the likes of Robinson and Pitts, both usually highly prejudicial. We did at one time have Sowell and Strawberry. Most of us would prefer them over some of the present JS columnists. Keep Goldberg and Parker,they report fairly.
Almost every time Obama talks, he strikes out against the rich. He intends to take from those who are capable of making money, who invest it, provide jobs to people who also want to make money, produce something of benefit to the general well-being of a nation, educate and train those who are willing to learn and work, grow the economy, enhance our quality of life and protect us from those who wish to do us harm. He wants to TAKE from the rich and spread it evenly among the whole of Americans and illegal immigrants. (Sure, some make more money than they are worth or can justify. It's the government's job to see that they make it legally and if not crack down hard. The government has had many successes, but admitedly, the wealthy can afford better lawyers. Fortunately, most of us learn early that life is not always fair).
Obama is like a work of fiction. A Robin Hood riding to the rescue of the supposedly downtrodden and those who are in true need. There is a difference. Most all of us try to support those in need in many different ways but not by taking but rather by giving. It may soon be too late to wake up from his demogoguery, his play acting and charm. Be very, very wary of this man. What he is saying is very real, and what many are believing is fiction. This is no sitcom or soap.
People are chanting "we want change" and so do I. but Obama and his chief supporters will disappoint all but those who wish to blame others for their problems and change this country so it will go backwards into socialism; the way many other great nations have gone. A way NOT acceptable to most of us.