Limousine liberals from Business Insider, Rolling Stone and other leftist online rags have been busy attacking Ayn Rand after Objectivist philosopher and Forbes contributor Dr. Harry Binswanger argued it’s time for the 99% to give back to the 1%.
Many limousine liberals and leftist pundits went berserk over Binswanger’s very interesting Forbes piece, while a number of self-claimed Objectivist (like Ms. Diana Hsieh) dishonestly, deliberately misrepresented his arguments.
Of all the renewed attacks on Ayn Rand, I find this Business Insider piece, written by a wall street guy named Henry Blodget pretty much interesting. He titled his blog “This Selfish Ayn Rand Business Philosophy is Ruining the US Economy”.
What a very strong point or argument to make!
Blodget, who was convicted of fraud, argued that Binswanger argument that people who make $1+ million a year should be exempt from taxation is “the logical extension of an argument that many American entrepreneurs and investors make, which is that they are the country’s “job creators” and therefore deserve almost all of the country’s income and wealth.”
He said: “These “job creators,” this argument goes, should pay their employees as little as possible and keep every penny of profit for themselves. After all, they deserve it: They’re the ones who “create” the jobs that sustain the country.”
Here’s another excerpt:
Unfortunately, this argument is both startlingly selfish and economically wrong.
What actually “creates jobs” in an economy is a healthy economic ecosystem, one comprised of entrepreneurs, investors, employees, and, critically, customers.
Successful entrepreneurs do play a valuable and important role in this ecosystem: They start companies that develop products and services that people want, and they guide the companies that produce them.
Well, that came from a wall street liberal and an Obama fan who was charged with civil securities fraud by the U.S. Securities and Exchange
Commission. According to this source, he “agreed to a permanent ban from the securities industry and paid a $2 million fine plus a $2 million disgorgement.” That tells something about the character and mindset of Mr. Blodget. He’s a fraudster.
Here, let me simply re-post some great replies posted by Business Insider commenters.
Richard Gleaves, an Objectivist and Facebook friend, posted the following reply:
Anyone who creates more value than he consumes is a hero — employer or employee. The battle is not between employers and workers. You’re just betraying your tired Marxist class paradigm. It’s not a war between the rich and poor either. That’s another Marxist foolishness– a way of classifying people by a NON-ESSENTIALS. What’s essential is HOW people make their money — is it by production or by force? Is it by work or by political pull? Did you earn it or did you steal it?
Yes, if men earn it they should keep it — and that means employees AND employers. The men who DO NOT earn their money are the enemy. And that means anyone who gets their money by theft, extortion or political pull. BOTH rich and poor. Whether you steal it by getting a billion dollar bailout for no work or you steal it by getting some supposed entitlement funded by theiving from your neighbors.
Ayn Rand is ruining this country? It’s people like you who divide us by stupid rich-poor classifications who are destroying us — by obscuring the real issue. You provide moral cover for the thieving poor and misdirection for the thieving rich. You lump the hard working earning janitor in the same category with his thieving layabout brother — and you lump the rich thieving Bernie Madoff in with the rich productive Steve Jobs.
We owe everything we have to the hard-working. And we owe nothing but enmity to the thieves above and the thieves below — who are stripping us bare from either end of the Marxist class ladder you advocate.
A commenter named Ken Moore wrote:
Hey Henry, ever read Player Piano by Kurt Vonnegut? Nearly all consumers worked for the government either the military or the Wreaks and Wrecks. This prescient novel predicted a future where innovation got rid of nearly every job leaving only engineers, who engineered themselves out of work and managers, who managed themselves out of it.
If you really believe an “ecosystem,” ostensibly one created by the government creates job, then pray to Gaia for help because there has been squat for new business formation in the last six years. There has been squat, Henry, because business owners face a number of nearly insurmountable obstacles including more regulation, state mandated healthcare, and lower access to capital as high quality collateral has been nonexistent to shadow banks, instrument to small business formation. While this is not a new phenomenon, the government has been over 20% of GDP for a long long time, it has become worse under the existing administration. I will pray as well, not to Gaia but if that works for you thenokay, that reason can win this battle. We need smaller government and an “ecosystem” created between INDIVIDUALS who know that the market can work if everyone strives to add value as defined by the market participants.
Another commenter named Franko wrote:
Henry Blodget: I don’t think you’ve read Atlas Shrugged before. Binswanger is too extreme and he completely distorts the Libertarian message he is trying to convey. If anything, Rand’s philosophies revolve around the talented individuals. If you did read Atlas Shrugged, you would know that the crux of the story is that all the talented individuals get up and disappear, leaving the US to crumble.
Selfishness and greed is why the economic system works. You are the co-founder and CEO of this website, a business designed to profit. If you are so high and mighty, why not turn it into a non-profit business website?
What I am about to type next is not a personal attack, but I did my research on you and discovered that you were charged and fined by the SEC back in 2003 for actions that would construed as greedy/selfish ones. http://www.sec.gov/news/press/2003-56.htmThis article is completely hypocritical and you might want to look in the mirror before you accuse others of being crazy, greedy capitalist nutjobs.
From a commenter named Scott Morgan:
The truth is, it’s corporate fraudsters and limousine liberals like Mr. Blodget who have been ruining America.