DC gets wealthier as the rest of America struggles, spawns Tea Party and #OWS
So what was the root cause of the Tea Party and #OWS movements? In my humble opinion, the rise of a new corporatism and the continued perceptions of… and genuine collusion between big business and a bigger government, because deal making and favors are easier than dealing with real economic competition. This is not a partisan based phenomenon its a DC one, everyone is guilty, the priorities are all that changes. Regulatory capture, regulatory robber barons… call it what you will.
This has been an oddly similar theme in both Tea Party and #ows movements (despite other more obvious differences of opinion.) Now, we have a bit more evidence to back their arguments about ‘elites vs. us’ (however ‘us’ is defined) up.
It just feels unreal that the home of the animal entreprenuerial spirits transforming our day to day lives over the last 30 years of those in Silicon Valley median income’s have fallen below the federal district region. Its pretty depressing.
Bloomberg had some of the answers this past week, “Beltway Earnings Make U.S. Capital Richer Than Silicon Valley. ” But I will focus on a part that others may have missed much discussion about.
Last year Washington also had the most lawyers per capita in the U.S. compared with the 50 states, with one for every 12 city residents, according to figures from the American Bar Association and the Census Bureau. In New York State the figure was one out of every 123 residents, while in California the ratio was one in 243.
Associate attorneys in the Washington area who have worked between one and eight years had a median salary of $186,250, compared with the national median for their peers of $123,521, according to a survey by the Washington-based National Association for Law Placement.
When I moved to DC, many years ago, I do so out of my personal antipathy toward those in the legal profession, despite how many I now count as personal friends. However, the stats above do account for much of the shift in who leads in median income. The Aristocracy of Pull is now firmly in control not wealth creators, in now allocating pieces of an ever shrinking financial pie of the extracted taxpayer wealth and have basically replaced those intent on growing the real whole hog GNP pie for all of us, where their efforts are rewarded, with a few extra slices. Why do that, when the you can pay a merchant of pull, to have it given to you via a rider?
Its kinda like the small town where if you got a DUI and are told to use a certain lawyer ’cause his brother is the judge, if you want it to kinda go away, easy (wink wink.) No one really knows all the details. It is shady. That is pull. Honest graft.
So what have we learned in the last 10 years? Not all tax cuts or government stimulus are created equal to add any economic growth or value. Many don’t. To this effect the supply side arguments and now the demand side arguments are both having a difficult time gaining any real traction of validity with the public. I give congrats to the Bushies for setting supply-siders back 30+ years and the current admin team giving Congress carte blanche grab bag over that ugly stimulus congrats for ruining real Keynesian stimuli back 50 years. Policy wonks zero, merchants of pull 2.
I could personally handle 1990s levels of taxation, but only if it was funding 1990s era levels of spending. Let the debt come down and the real economy blossom once again. But we all know the masters of Pull will never let that happen, they would be giving up too much. So instead we will continue to debauch our currency strength and living standards (so much for old fashion thrift) to pay for the growing desired priorities of the The Aristocracy of Pull and angry movements of citizens often of strong ideological differences continually up in arms.
Punish the responsible citizens to fund the priorities of those with Pull. It’s just depressing if you care about our nations future.
- Corporate Reform Could Unite Occupy Wall Street and the Tea Party (faitheconomyecology.wordpress.com)
- Tea Party vs. OWS – the Differences (delamagente.wordpress.com)
- Is OWS As White As The Tea Party? (pinkbananaworld.com)
- The Left’s Worst Nightmare: OWS Meets Tea Party! (tiltedquill.wordpress.com)
- Toy With OWS and the Tea Party at Your Peril (theroot.com)