This post is a letter I’m sending to New York Times columnist Paul Sullivan after he wrote two Wealth Matters columns discussing the horrors of suddenly being worth $350 million instead of $500 million. Here is an excerpt for some context:
BEATING up on the wealthy seems to be the order of day. I suspected that. But a recent Wealth Matters column touched a particularly raw nerve. It looked at how even people with sizable fortunes were concerned about money in this recession and the impact that could have on the rest of us.
Readers rejected the attempt to understand the concerns of the rich. …
The vehemence in these e-mail messages made me wonder why so many people were furious at those who had more than they did. And why are the rich shouldering the blame for a collective run of bad decision-making? After all, many of the rich got there through hard work. And plenty of not-so-rich people bought homes, cars and electronics they could not afford and then defaulted on the debt, contributing to the crash last year.
Paul,
I think you fail to understand why Americans are upset in your article, All This Anger Against the Rich May Be Unhealthy.
First, if I hear one more whine about how hard the super rich work, I’m gonna fall off my chair laughing until I cry.
You insult construction workers, truck drivers, school teachers and librarians to even IMPLY that those who are rich work any harder than the less rich. Perhaps the rich work smarter, or choose more profitable careers, but please get off that tired, self-righteous high horse.
Consider: I have a friend who worked in education for more than a decade, and her salary never exceeded $40,000. I know a high school teacher who sells real estate in the summer just to provide his family with a reasonable middle class existence. Because these people work incredibly hard raising our children, they should be America’s best-paid citizens, not the worst.
Americans are painfully aware how stupid our compensation system is, especially when they look at CEO and sports-hero pay. Heck, read this story to see how our taxes are helping to make bankers fabulously wealthy. Americans looked the other while they could buy a nice house and felt some upward mobility, but that time is gone.
Recent Comments
Tested Cans, Study Finds
Tested Cans, Study Finds
Unless It Is Mandatory
Unless It Is Mandatory
FDA Seeks to Shut Down
Ready-to-Eat Sandwich-Maker