Which is exactly the point made by populists who argue that strengthening and empowering unions and reforming the tax code to promote a large, robust and growing middle class, while increasing taxes on the 1%, creates a larger population with disposable income, creating more consumers, more demand, and more opportunity for growth. In such an economy, everyone does better, even rich people.
All you’re doing here, Ron, is arguing that the way YOU (apparently you think you’re a populist, which is intriguing, because that’s how I define myself as well, in many ways) think it should be accomplished is the best or only way. Unsurprisingly, I disagree. Unionism is pretty worthless if the formerly unionized jobs are done by robots. Increasing taxes on the top 1% (which is about 144,000 people or families) gets you a rounding error on the national budget. Etc etc etc.
Here’s a crazy thought. Let’s streamline the regulatory environment, keeping only the ones that have a definable public good OR have a definable positive ROI, reform the elements of the corporate tax code that incent corporations to invest, hire, and store money abroad, thus creating more good-paying jobs, and thus raising overall wages primarily to the three lower income quintiles.
But rich people don’t see it that way. Because of Positional Good, they only feel richer when everyone else is poorer, even if they don’t have quite as much as they could in objective terms.
The rich aren’t your enemy, Ron.
This guy is a moron. He should be begging to pay more in taxes. It would return to him, multiplied.
He runs a chain of $500 a night resorts. He’s not going to benefit from your trickle-up economics.