Most troublesome is the legalization of 'crowd funding,' the ability of start-up companies to raise capital from small investors on the Internet.

Indias rigid social structure limits intergenerational economic mobility and fosters acceptance of vast wealth disparities.

As a beneficiary of the carried interest loophole, I've seen firsthand the lack of any difference between the work involved in generating a carried interest and the work done by millions of other professionals who are taxed at the full 35 percent rate.

Visits to crowded Indian urban centers unleash sensory assaults: colorful dress and lilting chatter provide a backdrop to every manner of commerce, from small shops to peddlers to beggars.

Eye-popping tales of growing income inequality are hardly new. By now, nearly every American must be painfully aware of the widening pay gap between top executives and shop floor laborers; between 'Master of the Universe' financiers and pretty much everyone else.

Increased revenues, meaning higher taxes, will be a central element of any successful long-term budget plan, and President Obama is right to insist that the wealthy - the slice of America that has come through the recession in by far the best financial health - should provide those funds.

Finally, let's keep well in mind the most important lesson of the auto rescue: While government should stay away from the private sector as much as possible, markets do occasionally fail, and when they do government can play a constructive role, as it did in the case of the auto rescue.