Elizabeth Warren's Famous Rant
Elizabeth Warren achieved national fame overnight with some pungent words, widely reported : " 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..." The rest is quoted below. She makes a powerful appeal in the populist, soak-the-rich tone the White House has been setting. But I find her understanding flawed. It overlooks (or ignores) that before we, the "rest of us," pay for anything, there must be enterprise and profit first of all. Most of us pay taxes out of wages, and wages come ultimately from the existence of profitable enterprises. That is true even of wages paid by the government--since those come out of taxes, and taxes come out of wages, and out of profits. That has, of course, been true all along and it is true now. The government would have nothing to spend on roads, schools, police or f...