thanks

an important topic. I wish we had more of such sane and brilliant analyses, but alas, I think these are rare birds indeed...

I do appreciate his outlook.

we look back at the feudal system. Maybe worse.

I wonder?

The very rich receive most of their income from investments which are taxed at a lower rate than most of the middle class. This means that staying rich becomes easier while getting rich becomes more difficult. People with wage income are taxed at a maximum rate of 35% while people with investment income are taxed at a maximum rate of 20%. It doesn't take an economist to figure out that with such a system, it becomes far easier to stay rich than it does to get that way, at least through productive work. Couple this with other tax breaks and tax avoidance schemes the rich enjoy and it's a wonder anyone manages to get rich through the fruits of their own labor. Meanwhile the GOP promotes the idea that all you have to do is work harder to get ahead, and those in the South who tend to have the most income inequality, keep drinking the Kool-aid.