Do you feel the government only helps the rich? My wife and I were debating politics and economics the other day. She has a masters in political science and I have a masters in economics, so these are usually good debates. I am generally pretty libertarian, however, in a moment of weakness, I say it seems sometimes the government only bails out the rich and helps the rich.
Examples of how government helps the wealthy:
- Bailouts of companies – These are senseless distortions of the market than make the US less competitive.
- Deductions for those with money – Liberal tax deductions on businesses expenses and loopholes for wealthy people.
- Corporate Welfare – This you can not deny if you know anything about the political process in Washington, D.C. lobbies and special interests rule.
- Military – this is the largest special interest.
- Social Security for the upper class – I know many wealthy people in Florida receiving nice Social security checks.
- Real Estate surprisingly helps the rich – many laws and tax laws benefit homeowners and not the poor, who rent.
My wife’s reply was, well, if that is true then there is one solution. I said oh, yeah what? This was her reply:
If you feel that the government only helps the rich, then we better get rich
With the above statement, she is right. In a free capitalist economy, the primary reason for people being poor is wrong thinking. I know this sounds radical or New Agey but it is not. With an average intelligence and the right attitude, you can get rich in a free society. The only thing preventing you is sloth. Being mentally lazy and not exploring ways you can make money by creating value for others is the reason people are not rich. Yes, there is luck involved but if you really spend about a year brainstorming I think you will come up with an idea besides going to work. Start with reading books on why the rich have money.
The issue is thinking is the hardest work there is, that is why so few people do it. Dare to think. Do not be afraid to be creative by making money with what you really love.
Why people complain about the rich
People complain that the government only helps the rich because there is a lot of truth to their complaints. However, you can not wait for the world to change. You have to change.
Why do people wait about for the government to help them? Why do they complain the system is geared towards the wealthy? Or proclaim you need to be rich to make money. The truth is in a capitalist economy all you have to do to be rich is create something of value and own the process. In my economic blog, I explain a lot about how to make money in a capitalist economy. How to be rich. Stop complaining about not having money and saying the system favors the rich. The reality is if you feel only the people in power only help the rich, there is an easy solution. You better get rich.