Wealth & Poverty Review | Page 46

Medved on Deserving vs. Undeserving Rich

The Obama administration and its media allies are doing what they can to fan the flames of class conflict.  Some recent pollssuggest the campaign is having an effect on public opinion. But Michael Medved digs a little deeper into the data, and argues that Americans don’t generally dislike the “rich,” but rather, the undeserving rich: The biggest challenge for Mitt Romney isn’t that America hates the rich; it’s that the public hates the undeserving rich, anddeeply resents privileged punks and politically connected connivers who never performed constructive service to make their millions. This is an important distinction, reminiscent of Arthur Brooks’s distinction between “earned” and “unearned” success. 

Hong Kong is Number One

Sure, Hong Kong is not number one on every scale, but year after year, this former British Protectorate that is now part of the People's Republic of China, gets first place in the Index of Economic Freedom. (The US has dropped to tenth place.) Read More ›