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Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review May 1, 2009 / 7 Iyar 5769

A blow for income equality

By Rich Lowry


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http://www.JewishWorldReview.com | Why complain about the financial crisis? By liberalism's standards, it has been a swift sword of economic justice, working to equalize wealth more rapidly than any policy short of summary execution of the rich.


Why settle for raising tax rates on capital gains from 15 percent to 20 percent, when capital gains can be eliminated entirely? Why trifle with the tax treatment of compensation at hedge funds, when funds themselves can disappear into oblivion? Why increase the estate tax, when people's fortunes can be reduced by a half in a matter of months — without the inconvenience of waiting for anyone to die?


America experienced a financial decapitation in 2008. We saw $11 trillion in wealth disappear, an astonishing 18 percent. The destroyed wealth equals the combined annual output of Germany, Japan and the U.K., according to The Wall Street Journal. And there's nothing to soak the rich quite like a financial meltdown.


Forbes magazine found only 793 billionaires around the world this year, compared with 1,125 a year ago. The collective net worth of the world's remaining billionaires is $2.4 trillion, down $2 trillion during the past year. A few more years at that pace and they'd be bust entirely.


Obama economic guru Larry Summers explained why the downturn has hit the wealthy particularly hard in a recent speech. He noted that the incomes of the top 1 percent of earners had been soaring because of "rising asset prices and the fact that financial-sector profits exploded to the point to where they represented 40 percent of all corporate profits in 2006."


Summers' remarks carried an unmistakable undertone — problem solved. The consulting firm Oliver Wyman estimates the rich have lost a quarter of their wealth in the crisis.


It is ever so in economic contractions. Cato Institute economist Alan Reynolds has examined the data and found that the top 1 percent took disproportionate hits in every recession but one (1981-82) in the postwar period. The golden age of economic equalization has always been the Great Depression and World War II, prompting the question of what kind of catastrophe it would take to begin to significantly level out wealth after the boom times of the past 25 years. Well, now we know.


Of course, the economic carnage hasn't been limited to the top. Ordinary people have pensions and 401(k)s invested in the markets; they own homes whose values have plummeted; and they have lost their jobs. Their suffering is the tragedy of this trickledown bust.


But if, in the abstract, liberals were given a deal in which economic inequality was reduced from its levels of the 1990s and 2000s, but at the price of 8.5 percent unemployment, wouldn't they take it? Isn't that the basic bargain embraced in the European model they so adore? Less wealth, less inequality, less employment — recession-era America already has some of the characteristics of a European social democracy.


This is the deeper way in which the Obama administration doesn't want to let a crisis go to waste. It wants a new economy, built on "sustainable" growth and more widely shared wealth. The assumption is that with higher taxes and more regulation, the administration can foster growth without too many people getting unduly rich.


The risk is putting growth on a permanently lower trajectory and creating a version of Winston Churchill's socialism, which he defined as the equal sharing of miseries. The last Democratic president, Bill Clinton, campaigned slamming the greed and inequality of the Reagan years, but by the end of his administration was telling advisers that rapid economic growth was the best of all social programs. Barack Obama doesn't want to make such a capitulation to the market, but instead tame and fine-tune it in accord with his social ends.


Creating a new capitalism is a genuinely audacious goal. Give Obama this: When it comes to equalizing wealth, the financial crisis has given him a head start.

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© 2009 King Features Syndicate

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