Actually, Soros is smart and has done a lot of good things with his money but he's wrong about the estate tax and I expect he's wrong about Bush.
This is socialist nonsense:
There is also the moral problem that we have with the way enormously rich people make their money. Other than wealth created by virtue of an invention, such as Edison and electricity, the acquisition of wealth is not a guiltless process, nor certainly is it a profitless and without harm transfer of monies. Notwithstanding Soros' professed interest in helping people via his charities, there is the fact that speculation in foreign currencies a la Soros, can beget economic havoc in countries. In 1992, Soros earned one billion dollars in a one day by betting that the British pound would fall. Although Soros denies it, there are some that accuse him of causing the 1997 Asian economic crisis by his betting against the Thai baht.
If folk will insist on pegging their currencies or otherwise attempting to control exchange rates and national interest rates, there will be market imbalances that speculators such as Soros, or tourism guides, or waiters, will attempt to trade.
What's so bad about that? Apart from making a profit? (Ah yes, dirty word, that). They didn't set up the disgraceful policies that make Soros' or the waiters' speculation possible. Mason and Felder are trying to shoot the messenger in this case.
They're on more solid grounds if they stick to savaging his politics.
They're possibly on even more solid grounds if they just say, "George is getting old and losing his intellectual lick." But he's probably not losing it as badly as they have. |
