Wingnut Wrapup
The natives are restless today: Michael Barone, Town Hall: "Entitlement, Not Tax Cuts, Widen the Wealth Gap...Supercommittee Democrats argue that income inequality has been increasing and can be at least partially reversed by higher tax rates on high earners. They refused to agree on any deal that didn't include such tax increases." Well, that sure makes sense- giving money to the poor makes them poorer, while giving money to the rich makes poor people richer. That's about the gist of Michael's remarks, and who could argue with rock-solid logic like that? Michael continues: "In effect, Social Security and Medicare have been transferring money from low-earning young people (who don't pay income but are hit by the payroll tax) to increasingly affluent old people." Well, except for the fact that the "increasingly affluent" old people paid for their social security benefits every week of their whole work life. So, let's take away...