The great failure of the last generation is documented in the changing character of the business community. Entrepreneurs have been overshadowed by money managers taking massive risks on the one hand and using public debt to indemnify their risks.
Big bets on oil futures pay handsomely when the price is driven up with frenzied trading, while the public pays the price at the pump, to cover their bets. This is a transfer of wealth on a scale greater than the Bush tax cuts and it’s happening without any public debate or change in tax policy.
Grover Norquist is worried about the wrong thing.