Dear Fellow Republicans, Income Gap Is Un-American
Sheila Bair: Size of disparity defies GOP principles, too
By John Johnson, Newser Staff
Posted Feb 27, 2013 12:18 PM CST
   (Shutterstock)

(Newser) – Sheila Bair describes herself as "a capitalist and a lifelong Republican," and she thinks a reasonable level of income inequality makes for a healthy economy. But the current disparity between the uber-rich and the rest of us is ridiculous, writes the former FDIC chair in the New York Times. More than that, it's un-American, and she doesn't understand why many of her fellow Republicans not only stand for it but actually back some of the policies feeding the disparity. "Government’s role should not be to rig the game in favor of 'the haves' but to make sure 'the have-nots' are given a fair shot," she writes.

GOP lawmakers can start by demanding real tax reform as part of sequester talks, specifically by calling for an end to "preferential treatment of investment income." Instead of creating jobs, these kinds of "unjustified tax breaks" merely create more wealth for hedge fund mangers. That's just the first step. "I remember a time when Republicans stood up to special interests and purged the tax code" of such abuses, writes Bair, but now they're too worried about primary challenges. "It’s time for the Grand Old Party to return to those roots." Click for Bair's full column.

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Showing 3 of 61 comments
Lefty_Libby
Feb 28, 2013 11:56 AM CST
Would someone supply the name of the nation that follows conservative/libertarian policies and is socio-economically successful? Is there a real life example that those policies work?
BCS
Feb 27, 2013 10:58 PM CST
This is not a Free Market Capitalist system what soever. This is a monopoly driven, to big to fail, corporate welfare system that over regulates and crushes small businesses and entrepreneurs with endless rules, taxes, and bureaucracies, while making up special tax rates for mega businesses like Google and GE, and handing out tax payer money to the Banks.
BenDunn
Feb 27, 2013 9:06 PM CST
It is Un-american to continually beg for others hard earned income taxes to be spent on you, it is un-american to constantly give to those who will not get off their lazy asses and do for themselves. It is very American to provide for ones own family, it is very American to not ask others to pay for your sorry lot in life!