November 4, 2011

JAMES PETHOKOUKIS: Why OWS and Obama are Obsessed with Inequality.

This is the one-sentence story now being sold to America: “The middle-class is no better off than it was 30 years ago because the rich greedily grabbed all the money.” If this narrative—that America’s experiment with freer markets, lower taxers, and lighter regulation was a failure—can be successfully planted, it will be easier for Washington to tax, spend, and regulate in the future. And to elect politicians pushing that agenda.

On its face, the whole storyline’s a laugher—at least to anyone who lived through both the terrible, volatile, inflation-wracked 1970s and then the 25-year boom that followed.

But, of course, the OWS crowd didn’t.

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