Up with Chris Hayes 1/28/2012 -- Fairness and values
Saturday, January 28, 2012 at 08:28AM I can only watch a little over an hour of Up with Chris Hayes -- going into the second hour, I get a little too much progressive spin and I get dizzy. This morning the guests were Richard Kim, Carolyn Maloney, Josh Barro and Heather Mcghee. There were two main topics -- Romney's taxes and Citizens United. Romney's taxes led to the tax code in general and issues of fairness. Barro explained that many investors like Romney who pay the legal capital gains tax rate have already been taxed once on corporate income, so the claim that the rich are paying lower tax rates than a secretary making $60,000 is bogus. One way to think about this is to acknowledge that there are more middle class and poor people, so if the rich were paying lower rates, how do you explain the top ten percent of tax payers paying 70% of all taxes. Also, 47% of households pay no income tax at all -- none. But this is not what I want to write about. Anyone honest knows the rich pay the lion's share of taxes.
Heather Mcghee acknowledged double-taxation on rich people, but she said Obama is talking about values and fairness, and that most people won't hear about or understand the double-taxation issue -- they will only hear that the wealthy should pay their fair share. McGhee is obviously fine with this, and no one challenged her claim. First of all, more people than McGhee realizes might understand this issue, but let's look at what McGhee is saying. Do we "value" deceit over facts? Is it "fair" to lie about the amount of taxes paid by wealthy individuals in order to make it appear they are doing something unethical or even illegal? Maloney made several jabs at Romney's offshore accounts without explaining any details about the investments, suggesting something nefarious is going on. This is Obama's position on fairness and values -- to lie and deceive? And as long as the public doesn't figure it out, it's okay?
Later on they started talking about Newt Gingrich and Kenneth Adelman. Adelman is a billionaire casino owner who has given Gingrich up to 10 million dollars to help Gingrich's campaign. Maloney said that the contribution bought the SC primary. There's no proof of this, and there was no explanation from Maloney why Gingrich is now losing in Florida. Barro was the only guest who questioned the wild claims regarding money in politics. Hayes wondered what would happen when billionaires started putting hundreds of millions in campaigns and even a billion or so. If billionaires can buy the presidency, what then? Indeed, what then? First of all, as Barro pointed out, there's no evidence that pouring more money into a candidate's campaign will ensure victory. As more and more people hear the ciriticisms of Big Money in campaigns, the more sceptical they will become. Hayes said there is evidence that winners in elections usually have spent the most money, but this can just as easily be explained by the best candidate attracting the most financial support. Most people don't send their money to bad candidates who have no chance of winning. Of course the candidate who pleases the most voters will usually attract the most financial support. On the other hand, with Ross Perot and Meg Whitman and Carly Fiorina, there's evidence that just throwing money at a campaign doesn't enable a win. And, this will be the case with Gingrich. Adelman is wasting his money.
The other big problem that no one discussed, not even Barro, is the feeding trough in Washington DC that attracts the wealthiest hogs who want to purchase favors. Our interventionist government attracts rent-seekers and lobbyists and campaign dollars -- all wanting protection from some form of competition or government intervention. The tax expert they had on the show said, in relation to Adelman getting a casino license in Hong Kong, government decides who gets rich and who stays poor -- he didn't reaslize how this came across, and the panel was silent for a second or two.
If we had a limited government, it wouldn't matter so much to big corporations who's going into office, as long as they were efficient, honest public servants, because the elected politicians couldn't regulate some businesses out of business while protecting others, so there would be no need to pay for protection.
The panel came around to the realization that it's naive to think money can be kept out of elections -- they just want to change the source of the money. Progressives and liberals would be fine if media corporations provide the stage for campaigns, because then media personalities can give the analysis and insert themselves into the elections with no rebuttals from Fat Cats in the dirty part of the private sector.
Demonization of productive activity and wealth creation is a dangerous route to take -- it already has the economy on the ropes. Until Americans can see that shifting the blame from government intervention to capitalist greed is our government's Big Lie, solutions will be hard to come by. Yes, there are people in business who are dishonest and afraid of competition, but they can only thrive in a statist system. In a free market, the dishonest business people who are afraid of competition don't do so well.
M. Farmer | Comments Off | 

