The American Progressive Left's monetary, fiscal policy is redistributive justice.  That's IT!  It seeks to destroy the ability for citizens to acquire equity, capital formation by criminalizing political differences seeking an easily ameliorated human person, exhausted and bereft of self discipline, or direction.  It seeks to remove any, all natural bulwarks that serve interests different from the collective.  

The mantra of 'tax cuts for the rich' is replaced by the new normal of deficit financing, financialization, depreciation and debt monetization.  The alternative?  A robust civil society not easily dependent on political wiles of Washington.  

That's why Dr. John Taylor's endorsement is significant.  It takes ethical, moral norms that underwrite the western achievement that used to be called 'growth'.  It sees the family as the last bulwark against an ever encroaching, monolithic state.  Bush's tax plan acknowledges that our contemporary tax codes favors debt; it views the human person punitively, as adjuncts to consumption.  Dr. Taylor's endorsement is an acknowledgement that intellectual responsibility is back.

Dr. John Taylor's endorsement http://economicsone.com/2015/09/14/jobs-productivity-and-jeb-bushs-tax-plan/

Karl Marx abandoned the concept of capital after reviewing the work of William Stanley Jevons (disciple of British Utilitarianism, Jeremy Bentham) & Carl Menger, father of the Austrian School of Economics.  Marx found the romanticization of labor more fitting to his mien than ideas pertaining to marginal utility theory which demonstrates an intrinsic relation between cost structure (production inputs) and value (price).  

The American left's mantra of income inequality is hued from identical ideological sources.  Raymond Aron's work The Opium of the Intellectuals & The Recovery of the Political demonstrate how the recovery of realism can surmount the eclipse of reason that characterizes the tyrannical return to tribalism.


Several distinct American economists have discerned the way out from the left's incessant call for distributive justice that characterizes the new normal of deficit financing, misplaced macro-prudential hubris and transfer programs.  

The reason is this:  the cost of consumption is growing, while our productivity is slowing.

For decades, compensation kept pace with productivity; not anymore. 

As Dr. James Sherk from Heritage Institute discerned, consumption costs are outpacing productive output.  This has more to do with terms of trade, but most of the blame can be found in the political impact of confiscatory taxation, businesses simply leave and ship their goods abroad.  U.S. fiscal policy of subsidization contributes to the divergence between compensation and output, for business cannot arrive at any sound, longterm price discovery, not to mention dollar depreciation.  It all works against the American worker!

Check out original research http://esoltas.blogspot.com/2015/09/inequality-and-productivity.html
 
Dr. James Sherk Heritage Foundation research http://www.heritage.org/research/reports/2013/07/productivity-and-compensation-growing-together
 
Wages, Productivity & Inflation http://www.vox.com/2015/7/28/9057149/wages-productivity-inflation
 
Brookings Institute:  Fall & Rise of Net Capital Share http://www.brookings.edu/about/projects/bpea/papers/2015/land-prices-evolution-capitals-share
 
It's easier for dominant political classes to ramp up propaganda than admit that U.S. fiscal, monetary policy contributes to diverging rates of productivity, output and compensation.  Remember the reason why EVERY Republic in history failed:  the criminalization of political differences.  

Resources & Analysis of Iranian Nuclear Deal http://www.foreignpolicyi.org/content/fpi-resources-and-analysis-iran-nuclear-deal
 
Middle East Forum Dr. Daniel Pipes on Iranian 'Framework' http://www.danielpipes.org/16102/one-tiny-silver-lining-in-the-otherwise-bad-iran