The fundamentally false premise that society is better off by taxing the wealthy and corporations defies logic and common sense. Everyone should understand that govt (and large corporations for that matter) are significantly less efficient and more corrupt than small businesses. Most should also understand that business creation and growth requires capital, either borrowed or saved. If govt confiscates and mis-allocates capital or scares it away, there goes the capital needed to create and grow jobs. This fact has been proven throughout history, and we are seeing it played out again now. So, why are so many ignorant to what is so obvious?
The “arrogance of officialdom” explains the actions of those in power. What explains the willingness of people to prefer serfdom over freedom? I suppose it’s related to why the Brits (and many others for that matter) idolize and worship a royal family that had such a long history of oppression. It was recently reported that by 2016 the richest 1% will own 50% of the world’s wealth. Forgetting for the moment that much of this wealth will be vaporized when the bond bubble pops between 2016-2020, the misinformation that’s sold as fact is that govt’s are working to fix the problem (a point made at the end of the video). The fact is it is govt that is the big enabler of the 1% (to which govt leaders belong), because they pass laws that give economic advantage to those with political influence.