The Poor Need to Get Over Their Envy of the Rich & Stop Demonizing Financial Success!

The Obama Administration’s class warfare rhetoric and reliance on massive wealth redistribution will only serve to hurt the very people they seek to help.  Throughout history, the economic engine for successful economies has always comprised those at the very top of the income scale.  History is littered with examples of the imperial rich exploiting the huddled masses.  But in 21st-century America, most of those extreme historical iniquities have been mollified by modern labor laws and other civil remedies.  We have plenty of laws already to ensure that almost any injustice can eventually be remedied.  The challenge is to enforce them.  Sure, things aren’t perfect and there’s still a lot of inequity.  And, yes, there’s still plenty of corporate greed — think 2008 financial meltdown.  But there is far more economic justice today and more economic opportunity for far more people than ever before in history.

So, I say:  Stop demonizing financial success!  Class warfare only exacerbates social unrest and does nothing the help anyone.  Let’s shift the dialogue to how personal initiative and personal accountability can help anyone improve their financial status, no matter where they’re starting from.

The message needs to be:  “Get over the envy of those more successful than you.  Live within your means.  Economic equality is a utopian drug dispensed by the liberal establishment to foment discontent, exploit fears for the purpose of concentrating more power with politicians.  Get off your butt and improve your lot in life.  Stop expecting big government to subsidize you.  Stop expecting entitlements and handouts.”

That’s how you build an economy.  That’s how you help those in most need.

Higher taxes on the most wealthy rarely yield additional revenue over time.  Those at the top of the income pyramid — the economic engine of any economy — are the only     ones investing back into the economy or driving economic growth.  The masses, those lower on the socio-economic scale do not create jobs — the rich do.  Punitive taxes on the top 20% of earners who already pay 80%+ of all taxes only constrains economic growth.  The wealthy can legitimately avoid paying more tax via their asset mobility and reliance on investment income and that’s why taxing the rich too far never, never works.  The unintended consequence is always a higher tax burden on the middle class and fewer resources to redistribute to lower income groups.

“Anything you tax, you get less of. Fact of life.”  –  William Dunkenberg, Chief Economist, National Federation of Independent Business.

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