Is America’s Wealthy 1% to Blame?

There are a lot of financial pressures these days. Many are concerned about home values. Job security is harder to come by. Inflation adjusted incomes seem to be dropping.  Doubts about the long term stability and cost of Social Security and Medicare. Financial stress seems to be in the air these days, and more people want to know what’s causing the problem.

Some wonder how wealthy Wall St. executives can be receiving multi-million dollar bonuses after having brought a world’s economy to the brink of destruction. Yes, that is a good one.

Could it be the wealthy 1%? Hmmmm?

I believe the idea of blaming the wealthy for the struggles of the rest of us are both unfair to the wealthy and counterproductive to any solution that might benefit the 99%.

The opportunity for success and wealth is the promise of America. It is inspiring and motivating and fundamental to my own personal philosophies like ”those that do more, get more”. Yes, my personal philosophies lean to the simple side of things. I don’t believe blaming those that have done what we all have been given the chance to do, benefits anyone. In fact, it undermines core American principles. It also scares away people that would probably want to help solve the problem. This includes members of the 1% and millions from the 99% (like myself) that believe the pursuit of wealth and success in America is admirable, not despicable. Nothing shouts socialism more to me than vilifying the poster children of capitalism.  I am a capitalist, and proud of it.  That is not to say there are not flaws…or  opportunities for abuse and exploitation.

So what is the problem? Rather than the wealthy in general, it is those that misuse this wealth and power to tilt the playing field to their advantage. I wouldn’t blame Mitt Romney for paying the lowest taxes owed by law. If he could pay zero legally, I would not be upset with him. If I could pay zero legally, I would pay zero. Who is willing to overpay?  Although, if either of us could pay zero taxes legally, I think we need to talk to the guy that made that possible.

I don’t believe the wealthy are all in cahoots.

The problem is… some are in cahoots to tilt the playing field. For instance, I think there is an unhealthy connection between Wall St. & Washington that has caused more financial pain than most realize.
I think it’s time to stop blaming the 1% and start to identify who is really manipulating the rules unfairly. The great news is, America’s founders were pretty smart. The 99% still have all the power. I just don’t think we really know how to use it. But I think there is a growing number ready to try.  If things get bad enough, we can fix it.  Until then…

If there was a business where brilliant criminals, people who do not care about damage and harm to others, could make billions without fear of prosecution, would it draw the criminal element?