Charles Koch: We are doling out welfare for the wealthy

For decades “conservatives” have bemoaned welfare generally, but most of the attention has been on conventional welfare for the poor. And this area of public policy deserves more scrutiny and radical reform. The welfare laws in this country are seriously messed up and have done much to erode the underpinnings of American society. We have created a taxpayer subsidized underclass in this country.

But conservatives have, at least until now, largely ignored the subsidized “overclass” which has emerged in recent years.

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Why real capitalism is so amazing at creating wealth for everyone (Despite what you have been told) VIDEO

The state would prefer to keep the capitalists down on the bottom. Innovators make things uncomfortable for the powerful and connected.

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Nancy Pelosi’s Life in the 0.1 Percent

Ms. Pelosi has played the crony capitalism game well. The way she sees it – I promise you this is how she sees it – she’s just doing well, while doing good.

It’s the tune of many a crony.

“See, it’s OK that I live like this, even though I rail against the ‘rich,’ because I am one of the good guys. I’m for more money for welfare, and all sorts of other government programs to help the peasantry…

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About Inequality: Rich Get Poorer Over Time, Not Richer

Sell! Sell!

I did not grow up with money. But I did work in finance for years and I have known a number of people with significant wealth. I also live in an old money town, Charlottesville, Virginia.

There is an adage about significant wealth which I think holds generally true and that is that “old money” is smaller than “new money.”

Often with older money there is some patriarch a few generations ago who made a pile of cash in some endeavor,

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Indiana town moves to seize over 350 homes to make room for private developer

The 2005 Kelo Decision by the Supreme Court is one of the worst decisions ever handed down. (I still can’t believe it happened.) It allows cities to declare areas “blighted” so that private developers can come in and develop newly cleared land.

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If you had assets before 2008 you’re probably doing fairly well, If you didn’t, well sorry

Middle class. A lot less wealth here these days.

The great disconnect continues. Those who are tapped into the (crony) financialized system have seen their stocks and bonds do well as the market has ridden a Federal Reserve created bubble. Those who do not have assets, or only real estate assets, (unless they have nice arable farmland) have fallen behind. It’s a case of the rich getting richer and the poor getting poorer, but the situation has been exacerbated by the central bank experiments of the last 6 years.

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Wealthy Clintons Use Trusts to Limit Estate Tax They Back

Now raise your hand if you subscribe to the Kennedy school of limousine liberalism. I’m looking at you John Kerry…

Look, at a net worth of $100 million the Clintons are not wealthy, they are legitimately rich. They are not the 1%, they are the 1% of the 1%. And surprise surprise, despite all the “have and have not” nonsense coming from Madam Clinton as of late, the Clintons intend on remaining in the 1% of the 1%.

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Bernanke’s printing only delayed the pain

It is interesting to hear (some) people praise Mr. Bernanke for having “saved” the United States and the world from Great Depression II. This praise is misplaced to say the least.

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How did Harry Reid become a multi-millionaire having spent most of his working life in politics?

Senators are paid well, but they have significant expenses too. How Harry Reid has become such a rich man while in the Senate is a question worth exploring. The Washington Times is poking around..

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