There is no such thing as “the wealthy”

Prof. Reich like many of his fellow social engineering counterparts continue to make the same classic economic error over and over - There is no such thing as “the wealthy” as a static socio-economic group.

Every socio-economic group is fluid; some individuals within it are getting richer and some are getting poorer.

What happened to attempting to raise the tide in order to lift ALL boats?

Working to reduce the size of a rich man’s yacht will never make the poor man’s dinghy any larger. (Pun intended)

And besides, studies have shown that most family fortunes do not last outside of three generations. The grit that helped the first generation create the wealth is eventually bred out by the subsequent generations by the good life.

When the libs suggest an annual wealth tax on all the assets for old money trusts like those of the Kennedys, then perhaps I’ll believe all their spread-the-wealth nonsense.

One of the arguments floated is that those lower income or at poverty level don't live long enough to receive SS benefits. There are many supposed causes, social, health, health care access etc.

Point is, the lower rung of society is paying for the upper middle class retirement benefits they will never life long enough to receive themselves.

Btw, I am just pointing out this argument. I would have to see more hard data/facts myself to believe this.

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