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Except for the fact that productivity and standard of living have been completely decoupled in the U.S., which is why we have so many damn problems ...

"First, the government runs up massive debts to pay for its expenditures. When adding debt can no longer be done conveniently, it turns to a dramatically progressive tax policy. Both of these steps, when coupled with an irrational retirement system, lead to a dramatic drop in the productivity of the society and an inevitable resulting drop in the standard of living for all."

#trickledownFAIL (p.s. does "irrational" mean keeping the elderly from becoming homeless 'cause that's a good thing in my book)
The politics of envy and the real reduction in competitiveness is placing many European nations at a tipping point. The French have now elected a socialist government.

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