New Orleans, Progressive Paradise

From the USA Today:

In working-class areas here, homes for sale
have begun to move briskly. But in the ritzy Uptown district and other
well-to-do neighborhoods, the picture is bleaker. "New Price" and
"Reduced" signs adjoin grand Victorian homes "” symbols of a struggling
upscale housing market.

They're the lingering effects of Hurricane
Katrina. In coastal Louisiana and Mississippi, a glut of higher-end
homes points to soaring property insurance costs that are pricing many
people out of the market. It also speaks to the legions of doctors and
other professionals who have left the area and have yet to return. The
price of their exodus could be severe: Economic development experts
warn that if these professionals stay away en masse, it could cripple
the region's recovery.

For anyone with a stake in the region's recovery, the loss of
higher-income residents "” and their job skills "” is alarming. The
problem is compounded by the shortage of upper-income buyers willing to
put down stakes to replace those who have left.

So what is the problem?  I thought this would make New Orleans a progressive paradise.  No rich to get richer and create envy in the working classes.  No issues with income distribution.  Just a worker's paradise with no capitalist oppressors.  Huge portions of the populations dependent on the government and refusing to rebuild until they get government handouts to do so.  This sounds like everything Progressives are working for.  But...

Doctors, bankers and other professionals are "the backbone of the
community," says William H. Frey, a demographer at the Brookings
Institution, a Washington think tank. "They're the people who will help
the tax base. If they leave, they are going to be very hard to replace."

Oh, I see.  We don't really want them around, but we need milch cows we can tax so we can have handouts for everyone else.  It must be a hard tightrope for progressives to walk -- they hate rich people but need them to pay for their schemes.

  • Bob Smith

    "milch" cows? Is that a new breed ;-)

    Progressives have the same problem with corporations. US federal corporate income tax rates are, amazingly, now 10 or more points higher than much of Europe, with states tacking on another 5-10% on top of that. Ireland's corporate income tax is a flat 12%, a big part of the reason for its economic renaissance since it has induced many companies to relocate there. Much of Eastern Europe has followed their lead, some explicitly mentioning Friedman as inspiration. As I'm sure you know Arizona's (for example) corporate income tax is ~6.97%, for combined federal & state take of ~46%. Wow! That's a far cry from 12%. I'm not even counting the fact that federal corporate tax brackets are not indexed for inflation and haven't been increased in 30 years.

  • http://ugleenakedguy.blogspot.com UGN

    Ha! Awesome. I was going to comment exactly the same thing as your last section.

  • DKH

    I assumed he was referring to the German WWII-era U-boats. Milch cows were U-boats that resupplied other U-boats.

  • Technomad

    A milch cow is another term for a cow that gives milk.

  • Rick C

    "A milch cow is another term for a cow that gives milk.". In German, that is. I love these multi lingual blogs. Just kidding.

    Rick

  • Rick C

    "A milch cow is another term for a cow that gives milk.". In German, that is. I love these multi lingual blogs. Just kidding.

    Rick

  • Rick C

    "A milch cow is another term for a cow that gives milk.". In German, that is. I love these multi lingual blogs. Just kidding.

    Rick

  • Rick C

    "A milch cow is another term for a cow that gives milk.". In German, that is. I love these multi lingual blogs. Just kidding.

    Rick

  • tsiroth

    It's an English, rather than German word.

    ADJECTIVE: Giving milk: a milch cow.
    ETYMOLOGY: Middle English milche, from Old English -milce

    *shrug* I've heard the term for years, although it is somewhat archaic. May just depend on where you grow up.

  • markm

    Milch is also modern German for milk. It's pronounced almost the same except the Germans use "ch" to spell a sound called a "guttural", that modern English speakers use only for clearing their throat. "K" is as close as I can usually come without choking on phlegm... So it looks like this word has been conserved very well since English branched off from German, with no change in German, and the minimum change possible in English.

    Why would English-speaking economists use "milch" instead of "milk"? Did they just carry it over from German sources? Or has it been preserved in American farming areas, whether from German immigrants or from archaic English country dialects? I'm familiar with the term used literally, but my farmer relatives are German-American Mennonites, it's no surprise to hear some German words in their speech.

  • model_1066

    Welcome to chocolate-milch town!

  • http://personalmoneystore.com/moneyblog Lisa P

    Hurricane Katrina had many devastating effects to the people. We cannot deny the fact that it affects the people and give us another burden in our life. The fact that the emergencies like this strikes us when we are in a least position to handle this kind of situation. This is an uninvited guest that comes in our life. We cannot predict when and where it will occur. And sometimes it give us a new burden I our life. In times of emergency it’s unacceptable to wait for the things you need, like money; that’s why payday loans are such a great resource. You can get money right when you need it, and you don’t have to deal with any added stress when you’re already stressed out from whatever emergency just turned your world upside down. The people of New Orleans, the victims of Hurricane Katrina, on the other hand, have been waiting for years for the things they need—like new homes! It’s sad that it takes a celebrity like Brad Pitt to motivate people to help their fellow Americans, but at least Pitt is making a difference. Pitt is the spokesperson and lead of the Make It Right Project. Make It Right is an effort to rebuild homes in New Orleans. Pitt was compelled by the devastation and ruin he witnessed in the Lower 9th Ward, one of the hardest hit neighborhoods. Make It Right is going to build 150 homes in the Lower 9th Ward. Pitt is projecting that families will be in their new homes by the end of summer 2009. By the end of summer 2009, families will have been waiting nearly four years to re-establish themselves in New Orleans. It’s about time that someone took initiative to help the families in New Orleans. Like I said, it’s sad that it takes star power to get people involved, but I’m glad Brad Pitt was inspired to help. I feel like he will really get the ball rolling. Better late than never, I suppose. I cannot imagine waiting three or four years for emergency aid. At least I know when I face financial emergencies I can get almost immediate help. Payday Loans are available to me at my convenience. I won’t have to worry about waiting one day, let alone three years to get the help I need from payday loans. Click to read more on Payday Loans.