I have enjoyed reading 15 pages of this banter. I have no interest in rehashing income inequality as it seems like we beat this dead horse a while back. Anyone with his eyes open recognizes this as a huge problem.

I would like to address crony capitalism. True free market types, like me, hate crony capitalism as much as the welfare state. As a Ron Paul Republican, I do not advocate the non-stop lobbying by corporate America for perks and benefits that block out competition and give special favors to the politically connected. I would like to point out that it is all part of the big government mind set that has invaded main stream political thought. Why?

Well, you have to have high taxes for companies to get meaningful tax breaks. You have to have restrictive regulation for companies to lobby for rules to block competition (i.e. foreign competitors or new entrants). The bigger the government, the bigger the incentive to spend on lobbyists to game the rules to entrench your own business. You take originally great ideas to regulate commerce and you turn it into a money grab for politically connected.

Examples:
-Taxi cab rules (a huge fight right now). We need these to be sure that cabs meet safety standards. But by limiting medallions, you restrict supply and innovation. Good luck Uber.
-Agricultural price supports. The only country in the world with soda made out of HF corn syrup. And we're a free market? And candy manufacturing moves out of the country to support beet farmers. Don't get me started on ethanol and crop insurance.
-Home ownership interest tax deduction. Oh I love my tax break. But it benefits the upper middle class to the detriment of the poor and renters. I'd give it up in a heartbeat. Would you?
-Charity deduction. Do you know how much the execs at United Way make? They thank you for your support.
-Credit unions. They are local and friendly right? They don't pay federal income taxes. The community bankers hate this. Mutual insurance companies pay federal income taxes. Why don't credit unions? Hmm, their lobbyists are better than anyone else's.
-Zoning rules. Of course we need these. But how about when those rules block much needed housing development in NY and San Fran? Well, people pay outrageous prices for homes and rents pushing out folks from their neighborhoods.
-Corporate governance is a joke. The crony boards conspire to pay one another high salaries regardless of their company's performance. This is a big part of the income inequality problem.

So the myth of the U.S. being a free market is just that. There are scores of rules that raise prices, block competition, over regulate business, and give out goodies for those that are connected. The problem is you love your government hand outs from tax breaks and so do your employers and politicians. Try closing a government contract plant in your district that makes unneeded military hardware.

This is going to reach a head pretty soon.

I am not a legal expert, how many times do I have to say it?

Johnny Fry-Boy signed by Interscope last week

Johnny Fry-Boy signed by Interscope last week

hey what up Baconator

If you hate Laurence, then don't listen - don't comment. When he co-hosts the B&B show, take that day off ... listen to an old podcast of a Bernstein solo show and jerk off all day.

Seems fair.

http://money.cnn.com/interactive/economy/minimum-wage-since-1938/

Have you spiked the ball on Wal Mart yet? Their stock took a bath after they disclosed the earnings impact of their wage hike to employees. I think you wanted to see that, meaing wage increases eating into corporate profits.