Gates sees software replacing people; Greenspan calls for more H-1Bs

[pragmatic_dem]

6. The rich always blame the least able to defend themselves for the mess the rich have created...

When the rich scolded the middle class for not keeping up with technology, millions of people went back to school to learn information technology only to have the rich ship the jobs to unskilled labor in india at $7/Hr.

Greenspan and Gates - two sons of bitches who lash out at teachers, students and anyone who isn't a billionaire. Yet, here we are bailing out Wall Street fraud and buying microsoft products for Kindergarten (programmed in India).

The rich will keep blaming us while they live virtually tax free from the incentives we give them to send jobs to Asia.

If anything, this means future inequality in the United States will be driven by two forces. A growing share of national income will go to the owners of capital. Of the remaining labor income, a growing share will also go to the top executives and highly compensated stars at the pinnacle of the earnings scale.

Is there a politically feasible antidote? Professor Piketty notes that the standard recipe — education for all — is no match against the powerful forces driving inherited wealth ever higher.

Taxes are, of course, the most feasible counterweight. Progressive wealth taxes could reduce the after-tax return to capital so that it equaled the rate of economic growth.

But politically, “the fiscal institutions to redistribute incomes in a balanced and equitable way have been badly damaged,” Professor Piketty told me.

http://www.nytimes.com/2014/03/12/business/economy/a-relentless-rise-in-unequal-wealth.html?_r=0