05.09.14
Paul And The Pope
Krugman’s Op-Ed today, Now That’s Rich.
But many Americans are well-educated and work hard. For example, schoolteachers. Yet they don’t get the big bucks. Last year, those 25 hedge fund managers made more than twice as much as all the kindergarten teachers in America combined. And, no, it wasn’t always thus: The vast gulf that now exists between the upper-middle-class and the truly rich didn’t emerge until the Reagan years.
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But why does all of this matter? Basically, it’s about taxes.
America has a long tradition of imposing high taxes on big incomes and large fortunes, designed to limit the concentration of economic power as well as raising revenue. These days, however, suggestions that we revive that tradition face angry claims that taxing the rich is destructive and immoral — destructive because it discourages job creators from doing their thing, immoral because people have a right to keep what they earn.
But such claims rest crucially on myths about who the rich really are and how they make their money. Next time you hear someone declaiming about how cruel it is to persecute the rich, think about the hedge fund guys, and ask yourself if it would really be a terrible thing if they paid more in taxes.
Pope Francis today, ADDRESS OF POPE FRANCIS TO THE UN SYSTEM CHIEF EXECUTIVES BOARD FOR COORDINATION.
Consequently, I do not hesitate to state, as did my predecessors […], that equitable economic and social progress can only be attained by joining scientific and technical abilities with an unfailing commitment to solidarity accompanied by a generous and disinterested spirit of gratuitousness at every level. A contribution to this equitable development will also be made both by international activity aimed at the integral human development of all the world’s peoples and by the legitimate redistribution of economic benefits by the State, as well as indispensable cooperation between the private sector and civil society.
Consequently, while encouraging you in your continuing efforts to coordinate the activity of the international agencies, which represents a service to all humanity, I urge you to work together in promoting a true, worldwide ethical mobilization which, beyond all differences of religious or political convictions, will spread and put into practice a shared ideal of fraternity and solidarity, especially with regard to the poorest and those most excluded.