I mentioned earlier that last night's Daily Show interview with Edward Conard, former managing director of Bain Capital, was important as a particularly stark (and non-self-aware) presentation of a politically significant kind of reasoning.
The important and true point is that America remains uniquely favorable as an environment in which the Microsofts, Apples, Googles, and Facebooks of the world continue to arise. Plus the Disneys, the NBAs, the Harvards, the FedExes, and whatever example you choose. Our ability to foster the creative parts of "creative destruction" is fundamental to our prosperity and influence. Therefore America must be very careful to preserve the environment that makes such continued innovation possible.
The destructive and false part was his assertion that the only causal factors worth talking about are tax rates and income share for people at the top of the economic distribution.
I think any fair-minded observation of the world shows that other factors matter more in America's pro-entrepreneurial climate. My list would start with: openness to immigration and outside talent; strong university-based research systems; world's largest domestic market as incubator; rule-of-law and culture of venture capital (as opposed to absolute income share for venture capitalists); supportive "innovation in a garage can lead to glory" concepts and the related ideal of mobility and opportunity; and so on. A lot of my recent writing has been about why China, in particular, will have trouble matching this range of advantages -- and why America will be at risk if we neglect or throw away the pillars of our ongoing wealth.