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The ongoing redistribution of America’s wealth

Ed Brayton writes about Romney’s latest ploy: accusing Obama of planning a major “redistribution” of wealth—the “socialist” boogeyman. As Ed notes, redistribution of wealth isn’t a new thing. It’s going on right now.

Crop subsidies, for example, go almost entirely to huge agribusiness interests, to the tune of billions of dollars per year. The billions in tax subsidies for oil companies are also redistribution of wealth, but it’s redistributing it up rather than down. Romney never seems to mention those things to the fabulously rich people at his $50,000 a plate fundraisers, likely because a lot of them are a good deal richer because of such redistribution.

This is one area where the left may have common interests with rank-and-file conservatives. Conservatives know that a lot of the tangible wealth generated through their honest labor is being shifted to people who didn’t do the work to earn it. But they haven’t followed the money. They think the poor are taking it, but the poor haven’t got it. And neither, for that matter, does the government. Our multi-trillion-dollar debt is because the government is distributing wealth it doesn’t even have yet. And 85% of the wealth is ending up in the pockets of the top 20%, with most of it being concentrated in the hands of a very few families.

We need to end this lobbyist-driven, obfuscated, and manipulative redistribution now. The last thing we need is someone like Romney running the program.