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Why Let Wealth Remain Hoarded?

John McCain is running around hyperventilating about the idea that anyone might want to “spread the wealth”. However, McCain is not against the redistribution of wealth.

Over the last generation, the American economy has expanded, but the wealth of working Americans has not expanded. The wealth of working Americans has contracted.

A new study finds that wealth in America has become concentrated in the hands of a very small number of people. People like John McCain, who own many houses and have millions of dollars at their disposal, have been collecting more and more money, hoarding it for themselves, not allowing that money to circulate freely into the general economy. Even the Wall Street Journal acknowledges this.

No one is proposing that this wealth be seized. Rather, the Obama-Biden campaign is proposing that those people who earn more than $200,000 dollars per year start paying a fair share for the infrastructure that has enabled them to accumulate their wealth. Obama and Biden also propose that tax loopholes that help wealthy Americans hoard money overseas, where it fails to benefit the American economy, be closed.

That’s not radical redistribution of wealth. It’s not socialism. It’s merely asking the economic elites of America to work according to the same rules that the rest of us have been working under. It’s only an effort to end a system under which 99 percent of Americans work harder and harder year by year, only to gain less by their labor.

2 thoughts on “Why Let Wealth Remain Hoarded?”

  1. Damen says:

    What? The peasants can’t afford so much as a loaf of bread? Well, let them eat cake.

  2. Terry says:

    Well said. I bristle whenever I hear John McCain making fun of the idea of “distributing the wealth”… Wow!
    Imagine the nerve… to think that regular working class people have the right to share any of the wealth that their hard labor has created for those who have the means of production under their control! Wouldn’t we all be better off if we would continue to allow the wealthy class to run things at their will, so they can continue to pay the lowest common denominator of wages and let the “lazy” working people live in the squalid conditions that they deserve, for being so lazy. By the way, if you work two jobs just to pay the bills, you deserve to live that way because you are lazy and the wealthy deserve to rake in and hoard all the wealth because they are hard-working.
    That’s certainly fair isn’t it? How can argue against that?
    Well, let’s be real here. It’s a no-brainer and it infuriates me to think that anyone in the working-class would fall for that!
    They fell for bad logic in 2004 though so we have to speak out and not take anything for granted!

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