Thursday, October 16, 2008

Spreading the wealth

The disdain was dripping as John McCain pooh-poohed Barack Obama's suggestion in last night's debate that we need to spread the wealth.  "Hey," McCain says, "Joe the Plumber should be left alone to create more wealth so he can create more jobs."

OK.  Is that what happens?  

Here's what I think happens.  I think that Joe the Plumber and his huge plumbing company isn't what we're talking about here, since Joe would have to make $250k after business deductions.  I think we're actually talking about owners and boards of large businesses who DON'T create new jobs with their wealth.  They use it to pay exorbinant salaries and bonuses to executives who lay off thousands of employees.  They spend it on spas retreats and golden parachutes and partridge hunting

Because, you see, the wealth is what goes to the CEOs for cutting jobs and cutting costs in order to raise stock prices.

Just so we're clear.

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