Wednesday, November 2, 2011

Self Worthiness, Unequal Incomes (Income Disparity & Envy (Coveting

Self Worthiness, Unequal Incomes (Income Disparity & Envy (Coveting)

First, let’s stipulate: Capitalism produces unequal distribution of income
Secondly, regardless of excesses, no other economic system to date has produced the widespread prosperity of capitalism and it’s unequal distribution of income and resulting wealth.
Third, one principle America was founded on was to create an aristocracy of merit which in the negative was against an aristocracy based on birth (hereditary privilege).
And fourth, for capitalism to work there must be equality of opportunity – not equality of outcomes -which requires not only a level playing field for competition, and the rule of law but transparency.
Fifth, there has been remarkable abuses by the parasitic banks, investment banks whereby they leveraged 30-40:1 and got bailed out keeping the profits private and the risk socialized. Yet, there is no admission of primary culpability by the host predatory borrowers and their enablers (who made NINJAs – no income, no jobs, no assets) out of them (overwhelmingly Democrats/Fannie Mae) that THERE IS NO PARASITE WITHOUT A HOST.
Sixth, when, there is no skin in the game, be it the profits are private and the risk is socialized or no money or low money down mortgages – there is no buy in only abuse. Per Genesis ‘to be counted’ (and not just in the census literally) everyone – have, have not, have a little want some more – had to pay a ½ shekel.
Finally, while one can argue the excesses and abuses, let us not defeat the better for the perfect (which doesn’t exist). There are only ‘better’ tradeoffs rather than absolute solutions.

The above said, 1% pay 40% of the taxes, 53% pay all the income taxes, and the 47% pay who pay no federal income taxes - who have ‘no skin in the game’ are bitching about ‘income disparity’

What is at the bottom of the resentment?
More Money Equals More Worthiness (SUPERIORITY); Less Money Equals Less Worthiness (INFERIORITY).

Let me elucidate on the dualistic thinking that is pervasive through our culture proving that more is good, therefore less is bad – and by extrapolation, he who has more is worthwhile and he who has less is not comparatively worthwhile or worse ‘worthless’ which leads to envy, theft (redistribution of wealth – a synonym) is rationalized by victimization and euphemized as social justice, entitlement, and or rights
If we are useful, of service, functional, we are right. Today’s currency is being right and not being wrong. If we do what is useful, we are right (we get an  and we are right even righteous (originally, right use ness). If we are right – we get ‘more’ otherwise we get less. If we get more, we are better; if not, we are worse. If we are better we are winners – otherwise losers. If we are winners we are worthy (not worthless). And we are worthy, we are good which is just one ‘o’ away from God.
It is no coincidence, therefore, that assets less liabilities is referred to as Net Worth – Net Worthiness. And the ‘more’ Net Worth – the ‘more’ Worthy (the less net worth – the more worthless comparatively!)

Therefore in order not to be wrong, less, bad, losers and worthless – theft/ larcency/redistribution – become legitimate renamed as ‘entitlement, rights, and (the be all end all of motherhood facockta rationalizations) ‘social justice.’
As a result, we should get, by hook or crook (least I be redundant – social justice, redistribution, entitlement, rights) MORE (SUPERIOR)otherwise we are LESS and WORTHLESS (INFERIOR) comparatively.
When all the ‘good reasons’ (abuse, excesses by the parasites but no culpability of the hosts) are exhausted – the real reason behind the theme of income disparity is lack of comparative SELF WORTH rationalizing theft so ‘we are not LESS.’

Ironically, the parasites and the hosts are both MONEY GRUBBERS defining their worthiness by MORE or LESS, the former by the legalized larceny spin words ‘entitlement, rights, victimhood and social justice’ the latter by keeping the profits private and the risk socialized

If anything, the Occupy Wall Street should be Occupying:
• Barney Franks, Chris Dodds’ & Andrew Cuomo’s home
• Fannie Mae & Freddie Mac
• Colleges (who raise tuition 300%+ over the consumer price index)

You can’t change parasites but you can, first drain the incentives of the host, and secondly change the cage of the parasites. In particular:

• 20% down minimum on houses – period. (Does anyone believe we would have had these crazy overleveraged financial shenanigans were it not the NINJA subprime financing enabled by “Our Bettors” Dodds, Franks, Cumos’s etc?
• End tenure and go to contracts at Universities as well as go charter and or voucher for K-12 to put merit back into the system versus whining forever bitching and moaning we need more money as we continually get more for less and more student debt
• End revolving doors in Washington such that elected officials and staffs (nor their immediate families) can go to work for those whom they regulate for 5 years.
• Stop socializing the risk and keeping private the profits by increasing banks’ capital requirements lowering leverage.
• Keep estate taxes after both spouses pass. Inheritance is affirmative action for the rich. Being a member of the lucky sperm club doesn’t create jobs and violates meritocracy
• Taxation should be changed to a flat tax or a consumption tax with a negative income tax component (getting the federal government out of being the Nanny and reducing the bureaucracy telling those in need how and what to spend their money on.)
• End double/triple taxation as given demographic changes (88 million pulling money out of passive investments) the stimulation should be capital formation to create jobs and thriving passive investments given the demographics.

In the end, however, envy is envy is envy and coveting is coveting is coveting and More doesn’t define Worthiness (SUPERIORITY) unless one believes it does.

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