Former TARP chairman and Senate hopeful from Massachusetts Elizabeth Warren gave a shot in the arm to “progressives” everywhere this past Wednesday, with a rousing (or is it rabble-rousing?) extemporaneous speech on the virtues of taxing the rich. Her commentary quickly made the rounds on the Web and radio talk shows — and for good reason. Whatever this law professor said, she said it pretty darn well. Hey, If President Downgrade could articulate himself like that, he wouldn’t be in a bigamous relationship with a Teleprompter.
Unfortunately, though, style doesn’t connote substance. And Warren’s words, while rousing, were also reality-bending. Here is what she said:
I hear all this, you know, ‘Well, this is class warfare, this is whatever.’ No. There is nobody in this country who got rich on his own. Nobody.
You built a factory out there? Good for you. But I want to be clear: You moved your goods to market on the roads the rest of us paid for; you hired workers the rest of us paid to educate; you, uh, were safe in your factory because of police forces and fire forces that the rest of us paid for. You didn’t have to worry that marauding bands would come and seize everything at your factory and hire someone to protect against this, because of the work the rest of us did.
Now look, you built a factory and it turned into something terrific, or a great idea? God bless. Keep a big hunk of it. But part of the underlying social contract is you take a hunk of that and pay forward for the next kid who comes along.
I guess Warren defines “class warfare” differently than everyone else does, but she is a master of it. Let’s analyze her comments.
Read the rest here.