Reynold Ruslan Feldman, Ph.D. - Author, Editor, Nonprofit Consultant, Wisdom Coach

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Right Use of Money

The recently resolved U.S. debt-limit crisis has been described by some as a form of extortion, with a doctrinaire faction of one party holding the entire country hostage to their inflexible beliefs. The nation’s greater good seems to have taken a back seat to the greater good of the few.  Nowadays Republicans strike one as the party of greed, while the Democrats come across as the party of need.  Republicans have a point when they argue for hardy self-reliance, entrepreneurship, and creativity rather than dependence on government handouts. Democrats also have a point when they argue that with the best of intentions, not everyone is able to make it in the free-for-all of the so-called free market.  Adhering tenaciously to one or the other of these principles in place of a balanced respect for both, while appealing, makes sensible compromise impossible.  The obvious answer seems prudent cuts in expenditures (favoring social programs over defense, our domestic needs over our self-elected role as the world’s cop) balanced by higher taxes on the nation’s wealthiest individuals and corporations. Tea Party members will not budge, of course, from their 18th-Century perches in Boston Harbor. Why, they ask, should the hard-gotten gains of people and businesses be siphoned off to support the survival of the least fit? Let the lazy bums get out and do a good day’s work instead of whining for help from those who do.

So here’s my suggestion. Encourage a few magnanimous super-rich individuals like Warren Buffett and Bill Gates to start a movement of wealthy citizens who voluntarily double their current income taxes. There might even be a few progressive corporations like Costco that would follow suit. The idea would be for them to shame the selfish rich of our country into a true act of patriotism: generosity for the greater good of all.

22 Comments to Right Use of Money:

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Money to a certain extent is power and can do much good and much evil. It may set up a new standard of luxury and extravagance which will excite the emulation of men who cannot afford luxuries, and cause the ruin of some. It may be used as an instrument of corruption and thus become the means of gaining political power. In America the trusts are a great evil. These are a combination of a rich man who squeeze out all other competitors by buying up all the available sources of supply of a particular commodity. Then when the whole trade is in their hands, they raise the prices, thus robbing the public.

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