Thursday, September 22, 2011

Elizabeth Warren Quote to Ponder

Below is something I saw online and think really think it is a perspective not being heard or discussed as we all debate the economy and what to do next.

As background Elizabeth Warren is a lawyer, a Senate candidate, a law professor and former chair of the Consumer Financial Protection Bureau.

I agree with her comments.

My take is, you show me a rich person and I'll show you someone who - about 80% -90% of the time - started out rich, well off or with significant advantages in life.

Warren is saying that even if you literally did start from "nothing" in your life and have built up wealth and success, you STILL did not do it all on your own. There are elements of our society and economy that we all pay into and benefit from.

And to the degree that one might debate how big (or small) a "hunk" should be given back in her example, I would say this...our nation has over the last 30 years specifically and methodically reduced what that "hunk" can or needs to be through major tax cuts for corporations and the wealthy. So much so that reversing course even a little now elicits shrill cries of "socialism!" if "revenue increases" are discussed as an option for solving our debt and budget crisis.

All good food for thought in my book.

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