One doesn’t get to be a billionaire by being kind and patriotic. One gets there by being ruthlessly practical — for oneself.
America’s billionaires, and those who aspire to join them, don’t like taxes and social welfare spending. Those get in the way of lucrative overseas investments in places such as China, the Dominican Republic and Pakistan, where people don’t really have to be paid much for their labor.
Just check the labels on clothing and household goods and anyone can see where the George W. Bush tax cuts for the wealthy were invested.
Social welfare spending, on the other hand, was spent locally.
When the wealthy are taxed, everyone benefits. The wealthy enjoy public infrastructure that enables them to run their enterprises and live better-than-average lives. The middle class receives tax relief and has the money to create demand for products and, hence, create jobs. The lower classes receive assistance to survive, and spend their money locally.
The fairytale that America has no economic class structure is measurably false. Each American has to answer, “Do you feel like a billionaire today?” If you aren’t having lunch with Bill Gates today, you are in a different economic and social class.
The last time the American economy and public finances were in order was during the presidency of Bill Clinton, a Democrat. Today, Minority Leader Mitch McConnell and Republicans will do almost anything to prevent a Democrat from addressing the public good.
Do you feel like a billionaire today?
John Henderson, Auburn
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