If you believe the letters to the editor here it seems that there are those who feel that the wealthy are solely responsible for the well-being of the economy. There seems to be a patron-worshiping sentiment that all that is good comes from the wealthy, that jobs and money to spend are a gift from the rich to the poor, and that we’d better be nice to them or they’ll take their money and go home.
Well, jobs and money don’t come from benevolence by the wealthy. They come from demand by the consumer, and demand only comes when people have money to spend.
Employers hire people when they need help producing their goods or services. They need more help when demand requires it; not lower taxes, not less regulation, and not benevolence. Hiring and firing is controlled by consumer demand and little else. There’s nothing wrong with that, it’s just economics. ..But there’s nothing magnanimous or mysterious about it either. The sentiment that the wealthy are necessary patrons to the middle class is a throwback to the age of aristocracy and fiefdom.
No country has ever been great and long-lasting without a strong middle class. Ancient Greece, the Roman Empire, and India, were examples. But the U.S. is not following in their direction. Catering to our wealthy aristocrats with regressive taxes, eliminating needed regulations, sacrificing social programs, and allowing jobs to be sent overseas,…all for the benefit of the wealthy 1 percent, is an energy sapping leach on the economy. It’s creating a rift in our social structure that endangers our hold on democracy. It’s what has put us down into the economic doldrums and it’s what’s keeping us down. President Obama has said that now is the time for the middle class to rise up, that this may be our last chance to save a real democracy and to return to a strong economy.
If you want our nation to be strong again, think carefully when you vote next year. Consider cautiously the paranoid hype from the 1 percent. They and their store-bought politicians are in it strictly for their own benefit and have little regard or insight into what is best for the country…And believe it or not the wealthy investors won’t take their money and go home. As soon as demand shows up, they will too.