Sheldon Hayer: Disappearing middle

December 28, 2012 

Disappearing middle

I recently was enjoying lunch with a group and questions arose. Why do billionaires need so much money? And what has happened to the middle class?

In the case of billionaires, their wealth was obtained because they offered goods or services in the marketplace wanted by consumers. Don’t like wealth? Do not buy their products such as computers, cars, medical equipment, etc. Go sit in your cave.

Individuals and groups can clamor all they want about how the rich should pay their fair share. The wealthy do pay taxes. Political groups and government hacks can attack wealth all they want, but to demand extra taxes to support government programs because they may be good is wrong.

Where has the middle class gone? When wealth is attacked with higher taxes and overregulation, it leaves.

So be careful in thinking government is only an instrument of doing good. It will eventually drive away the middle class.

Sheldon Hayer

Durham

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