One Percent Solution

A colleague just pointed out an article in Vanity Fair that should be required reading for all Americans and it should be offered with a generous quaff of nepenthe. Please pardon any excess indignation you may find in today’s post. Whenever I’m teaching my course on the Hebrew Prophets I tend to get swept into the spirit of their oracular outrage. The latest statistics reveal that 40 percent of American income goes to only 1 percent of the population. Despite protests to the contrary, wealth does not trickle down like milk and honey (even though the latter takes its sweet time). The disparity between the ultra-wealthy and the middle class, as suggested by the article, has its closest analogues in Russia and Iran. Once the top is reached all political systems begin to look the same. Even President Obama’s budget will continue the legacy of tax cuts to the wealthy.

Where is the outrage? Americans are among the most complacent people in the world. Kept at the cusp of sufficiency, most people will not complain. Louis XVI himself could waltz into congress and be heartily greeted by his peers. All things being equal, if we the bottom 99 percent have enough then complaint is only sour grapes. All things being equal, however, is always hypothetical. All things are not equal. While many hard-working people are caught in a cycle of diminishing returns the bloated oligarchs help themselves to performance bonuses lofty enough to support hundreds of suffering families for a year. “Let them eat fake,” one can almost hear them say.

In the idealistic world of the Bible a pipe-dream was touted. Wealth itself is not evil, but it comes with an obligation. Trickle-down is a dried wadi in summertime. The wealthy are obligated to make certain that their fellow citizens all have enough. No one gets two houses before everyone has one. Once this level of fairness is reached, go ahead and get stinking rich. But that principle has never been realized. Those who have always require more. From those in such stratospheric positions magnanimity cannot be expected; for others to benefit some of their astronomic wealth must be taken. What are taxes for? Josef Stalin is laughing in his grave and shaking hearty hands with P. T. Barnum. They share a cigar and neither one of them need speak the motto they both know to be as true as the gospel.

Trickle-down economics

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