Redistribution of Wealth

I listen to a lot of talk radio, and I hear a lot of people lamenting the idea that President Obama intends to redistribute the wealth in this country. Apparently the concern is that he will change the way we already redistribute wealth.

Ronald Reagan’s supply side economics, otherwise known as trickle down economics, worked quite well for this purpose.

http://sociology.ucsc.edu/whorulesamerica/power/wealth.html

In 1981, the top 1% of Americans controlled 24.8% of the wealth in the United States, and the rest of the population controlled 75.2%.

After nearly 30 years of trickle down, in 2007 the top 1% of Americans controlled only 34.6% of the wealth, while the remaining population controlled a whopping 65.4%.

Maybe it is just me, but this distribution seems to indicate that these folks are not using their gains to create more jobs.

Apparently if we give bigger tax breaks and incentives to the wealthy, they will indeed pass something along to the less well off. What they pass along is, however, in question. Money it ain’t.
Write to your elected representatives and let them know that you do not want them to change the way things work.

Let us continue the redistribution of wealth exactly the way we have been doing since Ronald Reagan was elected, rather than turning it around and passing it back to the folks who merely work for a living.