Economic theory is perfectly acceptable. But in the real world, economic <i>reality</i> is much more important.</
Steve Jobs was suspended from high school for playing a salacious prank on the graduating senior class. Biographer Walter Isaacson says Jobs and his friends tie-dyed a bedsheet with the school colors and enlisted one of their mothers to paint a large hand extending its middle finger across the sheet.
Imagine someone showing up at your home and saying: “We’re from the government. We’ve determined that this dwelling has more living space than you and your family need. There are so many people who do not have enough. So we’re going to move another family in with you.”
First lady Michelle Obama the other day railed at "the few at the top," who do all sorts of bad things. A few months ago, we began hearing of the "1 percent" who are responsible for the current economic mess. "They" apparently make all their money at the expense of the other 99 percent. Are they the same as last year's villains, who had not paid "their fair share" in making over $200,000 in annual income?