Quote of the day -- on fairness. And America's lack of it

"America has a long tradition of imposing high taxes on big incomes and large fortunes, designed to limit the concentration of economic power as well as raising revenue. These days, however, suggestions that we revive that tradition face angry claims that taxing the rich is destructive and immoral — destructive because it discourages job creators from doing their thing, immoral because people have a right to keep what they earn.

But such claims rest crucially on myths about who the rich really are and how they make their money. Next time you hear someone declaiming about how cruel it is to persecute the rich, think about the hedge fund guys, and ask yourself if it would really be a terrible thing if they paid more in taxes."

-Paul Krugman, from his post today in The New York Times,

"Now That's Rich"

Could we put that whole "Obama's a Socialist" thing to rest now?

Obama a Socialist? POTUS Talks Tough But Actions Are "Market Friendly," Dow Says by Keegan Bales One of the principal criticisms of President Obama is that he is anti-capitalism. Opponents even describe his administration's policies as socialist. Mark Dow, portfolio manager at Pharo Management LLC, a global hedge fund, says these accusations are baseless. "It's totally false -- it's a construct," he says. The government has demonstrated they do want to get out of the economy." He points to the General Motors and Wall Street bailouts as evidence of the government's ability to step in and help corporations when necessary...but then allow them to (mostly) operate themselves. People who claimed that once the government muddled in these companies it would never leave have been proven wrong, Dow says. In reality, Dow says Obama's policies have been kind to the private sector. His tough talk is mainly a political strategy. "If you look at the difference between actions and words, you'll see that the actions have been much more market friendly and much more supportive of the private sector," Dow says. Link to original post: http://finance.yahoo.com/tech-ticker/obama-a-socialist-potus-talks-tough-but-actions-are-market-friendly-dow-says-yftt_534780.html;_ylt=AuMs0uNlDtqZHH2zWokr3vLeba9_;_ylu=X3oDMTFnamMxbXFsBHBvcwMzBHNlYwNjb250ZXh0dWFsLXRlY2h0aWNrZXIEc2xrA29iYW1hYXNvY2lhbA--