“Money can’t buy you love,” as the Beatles were known to have said in one of their lyrics….but money can, and does, buy power, influence, and comfort. Just ask anyone who’s poor. Or anyone who’s rich. It’s all the same common knowledge. That’s why everyone (or most everyone) wants the green stuff…as much of it as they can get.
Money generally has a bad reputation….it is the “Root of all Evil,” as some say, and has been known to destroy families, in one way or another, either through inheritances or lack thereof, or the perception that one got more than the other. Just ask the Rich….or the Poor. It’s all the same common knowledge.
When politicians talk about raising taxes on the Rich, it actually hurts the Poor. Just look at history. For example, the top 1% of earners in New York, for instance, account for 36% of the state’s total income. If tax rates become too high, some of the Rich leave. Many Rich own homes in other states, and/or other countries. They are wealthy enough to do that. Then what becomes of the tax base, in a state like New York, for instance? Who ends up funding the loss of revenue? Why the Middle Class, of course, and the Poor. Their taxes get raised, or their state budgets get cut. They lose either way. Usually the middle way is the best…the moderate way. Perhaps raising taxes a touch, and cutting a little out of budgets….nothing too drastic, but perhaps that combo makes it fair to everyone. But to punish the Rich has always proven disastrous…because again, as I mentioned, they can just get up and leave. They have the resources to do that. They are not prisoners of their financial circumstances, as many folks are. The Rich and the Poor are intrinsically entwined….because the Poor and Middle Class need the Rich, and the Rich need the workers (both white collar and blue) to keep the machines of their businesses going. We are all dependent on one another. Where it becomes sad is when one realizes that the Rich can now go overseas and hire workers that will take less in pay….the dependency becomes less for the American worker and the Rich. Therefore I cringe every time I hear a politician mention raising taxes on the Rich….it doesn’t work out well for the rest of us…especially now, with cheaper labor overseas.
The Machine…the cogs in the wheel of business and leisure. For one to say they are anti-business is to declare oneself a bit of a fool…without business, we wouldn’t have a country. It’s like when I used to hear people who owned a home say “Oh me, I’m not in the stock market,” well my friend, when your house lost half it’s value with the recession, you quickly discovered you WERE in the stock market, because the value had to do with the banking industry, which is involved with Wall Street. So the good part is that I think people are waking up and realizing that The Machine involves all of us…Rich, Poor, and Middle Class. We all need one another for The Machine to run smoothly.
The more money a person has, the more they spend, usually. Anything that reduces that will hurt the economy….real simple stuff. For The Machine to work well, we all need to understand what makes it tick.