The ugly truth is that the really wealthy can manipulate the political system to their own ends better than ordinary people. They can lobby for specific tax breaks that only they can take advantage of. They can get government trade protection for their companies. They can get bailouts. If all else fails, the truly wealthy can simply relocate their wealth into whatever area the government policies du jour make the most profitable.Where would Warren Buffet be without the politicians who do him favors?
Friday, October 31, 2008
Why the Really Rich Love Socialists
Chicago Boyz reports: