It’s easy to say: “I knew it all along.” So I’ll restrain myself. But, I have to wonder why other people are just noticing that Wall Street has been slouching toward the left for a decade or more now.
I mean, you knew that John Corzine is a Democrat, didn’t you? And not a “Reagan Democrat” but a real, live, redistribution Democrat. And so is Warren Buffett.
You know you’re in trouble when Democrats and Republicans agree on something, and what they are agreeing to now is the AMT. The Alternative Minimum Tax was instituted in 1969 (remember who was president in that year?) to assuage the fear that rich people were getting richer — or, at least, weren’t paying their fair share to the government. Not surprisingly, it was the government, and not rich people who wanted the AMT. So why is the government backing away from it as fast as their chauffeurs will take them?