Your reply makes sense and I agree to a point -- SPEAK UP

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Date Posted: 23:19:51 10/22/02 Tue
Author: Richard
Author Host/IP: 1Cust164.tnt1.gainesville.fl.da.uu.net / 67.243.7.164
Subject:

Your reply makes sense and I agree to a point
In reply to: Loree (reposted by Richard) 's message, "Re: Discussing Paul Krugman's thoughts on the income gap" on 22:38:02 10/22/02 Tue

Hi Loree,

I can sense the frustration in your reply and, believe it or not, I can agree to a point. I think your perception that America is full of rich greedy people who break the law is an over reaction. It isn't entirely wrong, obviously, but it is the exception not the rule. There is always going to be an element of wrongdoing in any business effort. It's no different than politics.

The problem with Krugman's approach is that it unfairly punishes all wealthy people. He uses the tax system as a form of punishment for everyone, not just the guilty. In so doing, it would destroy the incentive to create new wealth. That is the reason socialistic societies such as the USSR, Nicaragua, Cuba, and N. Korea have failed. Despite the obvious problems in some companies like Enron, our society has had a much better standard of living than any of the socialist countries. I know Krugman says this is not so, but I'll add one factor other than health care and longevity; OPPORTUNITY. Because of the size and diversity of our economy, we have the broadest range of opportunity of any country. If you want the best possible education for your kids or the best possible market to develop your idea, would you live in Sweden or the USA?

As I said earlier, I agree with you to a point. We need to hold our leaders accountable. We can't allow them to raid corporations for their own personal benefit. But we have a system that can do that and it is working. The market saw the problems in Enron and began devalueing it long ago. The leaders committed crimes and now our legal system is at work to correct that problem. You might say that they ruined lots of lives and that is true. But criminals are never heald to account for the lives they ruin. Murderers, drunk drivers, embezelers, con men, bank robbers, all go to jail when convicted, but never have to make restitution to their victims. If any money is recovered, it may be returned to the victims, but that is rarely the case.

As always, thanks for your reply,

Richard

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