Selective Safety Net

Yglesias:

As I said before, I don't necessarily have a problem with the government intervening to help stabilize the financial markets if that's what's necessary for the economy. There's no sense letting a sense of spite directed at the wizards of high finance get in the way of doing what needs to be done. But surely Democrats could seize this opportunity to make the case for the rest of the social contract. After all, it was just a couple of months ago that the GOP was blocking efforts to temporarily increase food stamp benefits and extend unemployment insurance and doing so in the name of free markets and moral hazards.

It's preposterous. This is the time to be making the case for progressive taxation and for a safety net that works for the broad mass of people, not just a selective one for people who reap the windfall during boom times and then walk away from losses when things go bust.