Some conservatives continue to claim that President Obama is unfriendly to business, but the facts show that the richest Americans and the biggest businesses have been the main – perhaps only – beneficiaries of the massive wealth gain over the past five years.
We may have once believed that the darkest days were behind us, and that slow and steady progress for middle-class workers would continue to be made. But greed and good sense are forever in competition.
Their entitlements can be summarized into four categories, each of which reveals clear advantages that the very rich take for granted.
There is currently no U.S. tax on the purchase of stocks, derivatives, and other financial instruments. The rest of us pay up to a 10 percent sales tax on the necessities of daily life.