Thursday, July 1, 2010

Why We Need the Rich

This fantastic article explains why we need the rich, and why efforts on the part of politicians and pundits to cast aspersions on the rich among us are misguided and counterproductive.


J. Paige Edwards said...

You know, ever since I was little, and all growing up, I've had a different perspective of "rich".
To me, then and even still now, Rich was anyone earning $100K or more per year! Rich was (and still is) anyone who could afford the basics and a few nice things. Even if you were making $75K/year or more, you were still quite wealthy. It boggles my mind that a household can earn around $250K and then just be on the threshold of the "middle class"!
I'm sure a lot, if not most, people would think I'm nuts for still having this opinion, because so many households are now making $100K or more each year and they struggle to get by. Those who have that kind of income and struggle to get by generally have LOTS of debt. The ridiculous kind... the kind that causes big monthly payments that steal their wealth, where if they would save and even invest the money, they could buy those same things without debt and therefore still be "rich".
That said, most people who badmouth "the rich" are badmouthing themselves and their family, friends, and neighbors...

Rile said...

Why do people resent the rich? I always wonder that. Is it because they "stole" their place? Or do we feel like they walked on us to get where they are? I don't think so.

I think that the rich are resented for the same reason that the jock who can't do his algebra homework secretly resents the class nerd. For the same reason that that same nerd resents the jock for playing at the homecoming game while he watched from the nosebleed section.

It is human to think ill of somebody who has excelled in an arena in which we ourselves wish for success. Are we really truly angry? Or are we actually jealous when we call Bill Gates a snob or say that Trump doesn't deserve what he has?

Instead of resenting somebody's success (and yes, wealth), perhaps we should praise them for it and get back to work trying to get there ourselves.