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« Breaking the law | Main | Amassing a horde »

Need a happy story

Digby and Yglesias both linked to this article today that shows affluent New Yorkers reacting with alarm to the fact that Bill de Blasio is the front runner in the race for mayor. And Atrios too, in his own succinct way. But i really liked Yglesias' take:

But the flipside of this is that in a lot of ways I think rich businessmen would be happier if we could go back to 1950s-style, more egalitarian distribution of pre-tax income. The richest people around would still be the richest people around, and as the richest people around they would live in the nicest houses and drive the nicest cars and send their kids to the best schools... But they'd also have a much better chance of gaining the kind of respect as civic and national leaders that they crave. They want to be seen as the "job creators" and the heroes of the economy, not the greedy exploiters of the masses. But in order to have heroes of the economy, you need a broadly happy story about the economy--one where living standards are rising across the board and prosperity is broadly shared. If all the income growth goes to a tiny slice of people at the top, then responsible politicians have no place else to turn than higher taxes and more spending as a way to generating rising living standards.

By fnord12 | September 4, 2013, 7:22 PM | Liberal Outrage