The Income Distribution Hoax, Part 2

See Part 1 here

It was probably not distressing to many of you money grubbing young capitalist monkeys at WSO (and I mean that as a complement) to hear on the evening news a few weeks ago that the share of aggregate real (inflation adjusted) after tax income going to the top 1% of American households had doubled between 1979 and 2007, reaching 23.5%.

Of course many people were highly distressed by this widely publicized statistic emanating from the CBO report issued upon request of liberal Senators Chuck Grassley and Max Baucus. But not you monkeys. You probably cheered. After all, most of you intend to be in that 1% someday, and are working hard to get there.

Ron Paul, Thomas Jefferson, and Andrew Jackson versus the Fed

mod (Andy) note: This post went up earlier this week but was accidentally deleted, along with its comments, so I am reposting.

Ron Paul isn't going to be President of the United States (all together
now; heavy sigh). You know it, I know it, and he knows it. But none of us
knows that some other inheritor of the political and economic tradition of
personal freedom and constitutionally limited government that Ron is trying
to rejuvenate won't.

Those principles animated most of the American Founders, and just their
partial adoption into law and government in Britain, America, and (later)
Europe in the 18th and 19th centuries resulted in an explosion of human
entrepreneurship, inventiveness, innovation and productivity. As a result,