Occupiers and Tea Partiers Unite

Here is the real solution to America's economic problems that should satisfy both the Occupy Whatever movement and the Tea Party:

So how best to confront America’s growing class division? With serious economic growth beyond Wall Street. A flatter tax system with fewer exemptions, limiting trusts and foundations and ending the preference for capital gains would force the wealthy to re-engage the economy. They would have fewer ways to hide their money. Sweep aside both subsidies for oil and gas companies and the renewable industry, regulate sensibly and market forces can drive exploration and development.

Will Republicans support this approach? Many seem almost incapable of acknowledging the threat to democracy and our social order now posed by the growing concentrations of wealth that eerily recall the 1920s. Others prostitute themselves to fossil-fuel industries — the way the Democrats kowtow to rent-seeking green capitalists. Meanwhile, with Obama’s once strong support on Wall Street weakening, they seem all too eager to dance to big money’s tune to fill their own coffers.

In other words, get rid of the special favors for everyone.

A fairer tax system that provides greater rewards for wage earners and small businesses--these are the people who create economic health. End the tax breaks and subsidies for oil companies and for "green" companies. They're all feeding at the public trough.

This analysis comes in Politico.com from  Joel Kotkin,  the author of The Next Hundred Million: America in 2050,  a distinguished senior fellow in urban futures at Chapman University and an adjunct fellow at the Legatum Institute in London. No, I haven't heard of Chapman, Legatum or his book, but what he says is more important. You can read it here.

I owe thanks to the sagacious Pat Hickey for the link to this fine article. Hickey, of course, is worth reading regularly reading for his own wit and wisdom. Here's his post on the same topic.

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    Dennis Byrne

    Chicago Tribune contributing op-ed columnist and author of forthcoming historical novel, "Madness: The War of 1812." Reporter, editor and columnist for Chicago Sun-Times and Chicago Daily News. Freelance writer and editor.

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