Thursday, March 10, 2011
Rand Paul on Letterman, part.3
Senator Rand Paul is certainly his own man in his nitwittery. In the article below he shows that he has no clue about the fragile recovery wanting to nip it in the bud. We know the cuts of the Republicans would cost 700,000 jobs, we know that we are barely recovering now, and we know that all economic thought on the issue of depressions has the expansion of the monetary supply as the only remedy beyond soup lines.
Notice also the skewed bell curve in the above chart. At the highest level, we are measuring the top 1% of the people. Notice how large the percentage of total income that falls into this small 1% elite group. The next largest group represents the middle of the bell curve and is comprised of 20% of the people. My main practical experience with bell curves (other than learning about them academically) was when teachers graded on a curve. If grades were handed out on this bell curve, professors would probably be fired for grade inflation.
Ringing in my ears is the argument that people earn their money in a fair capitalistic system and there should be a flat tax. I would like to give my first use in this blog of an obscenity in response to this, but I'll refrain. Money makes money, money buys influence that makes more money, money controls the political process, money buys education, money buys healthy food for kids and the education to feed it to them, money buys power clothes, money buys power lunches, and money makes the world go round the world go round the world go round. Fair enough? Besides, how could you doubt Liza Minnelli?