Monday, January 30, 2012

THE WEALTHY 1% & POLITICS

I can't say I am big on Romney (or for that matter any other Republican candidate) or rich fat cats, but I think it is unfair for the media and Democrats to go after Romney on the wealth issue. As Victor Davis Hanson points out, there are many super-wealthy on the Democrat side, but no one seems bothered by their wealth. I am especially interested in watching what happens to John Corzine after all of his hedge fund's money seems to have gone poof.

This week we heard that consumer populist and Massachusetts Senate candidate Elizabeth Warren is, by both net worth and salary, part of the One Percent herself — as well as a past consultant to insurance companies seeking to avoid litigant claims. All three of Barack Obama’s chiefs of staff were Wall Streeters; all three made their Wall Street millions in very little time; two had some sort of association with Freddie and Fannie. Peter Orszag of both OMB and Citigroup is emblematic of the technocratic class’s revolving door between “public service” and ever more enhanced billets back on Wall Street. And, fairly or not, even good handlers cannot keep Michelle Obama’s taste for the aristocratic life of high fashion out of the press.

Most universities are far more unfair to their part-time teachers than Wal-Mart is to their greeters. Robert Redford does not seem concerned that at least a few of his fellow HuffPo writers are paid almost nothing for their work. Al Gore would never ask an out-of-work pipeline worker to hitch a ride on one of his private jet swings. Hollywood predicates much of its production on the basis of non-union locations.

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