Tag Archives: Robin Hood

Is it time for Robin Hood Economics?

Note: post is authored by obxfun at AAPLSanity message board

First, out of deference for the rule of no politics, my intent in this post isn’t political.
Haves are democrats, republicans, libertarians, socialists, liberals and conservatives.
Have-nots are democrats, republicans, libertarians, socialists, liberals and conservatives.

Funny thing about this almost depression recession: the haves aren’t hurting anywhere near as much as the have-nots are hurting. As a matter of fact, the haves don’t seem to be hurting at all. A few observations:

  1. The haves really caused this debacle by developing reckless schemes to get even richer.
  2. These schemes included predatory lending practices to dupe the have-nots into taking chances to reach the American dream.
  3. These schemes also included predatory trading practices to dupe the have-nots and less well off haves out of their hard earned investment and retirement money.
  4. When the house of cards finally came tumbling down, the taxpayers, made up mostly of haves-nots, bailed out the haves and the mess they had created.
  5. Many of the haves continues to pay themselves richly through bonuses and compensation packages that, while less than before, would support the families of thousands of have-nots.
  6. The haves got charged interest rates on their bailout money that were somewhere between 3.5 and 4%.
  7. The have-nots are now being told by the haves that they have to pay the haves loan shark rates to the tune of 20-40%.
  8. In order to survive, many of the haves laid off many of the have-nots and our unemployment rate is approaching 11%.
  9. The haves are reporting quite impressive profits and bonuses for their have leaders. They have learned that they can run their businesses and still be profitable when they get leaner and meaner.
  10. This is a jobless recovery and I don’t see that this will change unless and until the have-nots get so frustrated at the unfairness of the economic playing field that they do something quite scary and make the haves shit in their pants.

Very rich haves go on TV and debate about how the government should or should not get involved in helping the have-nots get jobs. They argue that we’ve spent too much already. Isn’t it ironic that the “too much” was spent on them?

Perhaps I’m taking my honorary nickname here in AAPLot too seriously, but this scenario really sucks. The rich ARE getting richer despite the fact that they are incredibly stupid and the poor are getting poorer despite the fact that they try just as hard, if not harder, than the rich.
I know I have over-simplified this, but we really need more George Baileys in this world.

This is a social commentary. No politics intended. What’s the right thing to do?