The Benefits of Making the Rich Richer
By Nicole Chin
The Office of Opinions are Facts
March 14, 2018
A popular, misguided outlook is that wealthier citizens are greedy and corrupt. Many news outlets and social justice warriors would have you believe a sort of Robin Hood mentality where we take from the rich and give to the poor. To clear up any misconceptions surrounding President Trump’s tax plan and how it benefits not only the hard working upper class but America as a whole, we have outlined the positive impacts that can result from the rich becoming richer.
- Creation of jobs- many people believe the wealthy use tax cuts for extravagant vacations, luxury purchases and frivolous expenditures, and decreased regulations to benefit their personal interest. While this is completely true, it is erroneous to think this is all they do- a recent study found that CEOs of major corporations, once given the freedom to grow and prosper, could expand their companies greatly, increasing the amount of jobs available to lower class citizens, such as sanitation and ancillary jobs.
- Trickle down economics works- reducing taxes on big business and the wealthy elite stimulates business investment in the short term, benefiting everyone in society in the long term. This is a fact.
- Incentivizes the rich to Keep Working Hard- the rich are the backbone of our economy. Keeping their pockets heavy keeps them happy, and a happy businessman is a good businessman. Or woman. Good businessmen are instrumental to growth and progress. Besides, exorbitant wealth is an indication of hard work and business acumen, and it is the view of this administration that hard work should be rewarded, not laziness or whining.
- Inspiring others- many wealthy businessmen (and the occasional woman here and there) epitomize the American Dream. More specifically, the reimagination and redefining of the American Dream that states that anyone with the right resources, family background and social standing can make it big in our wonderful country. It is clear that when people from other socioeconomic classes see their fellow Americans sitting on piles of money, they will be inspired to redefine their own lives and make a name and fortune for themselves.
These are just some of the many ways making the rich richer can benefit everyone. It is my hope that you the reader use this knowledge to start thinking of ways you can help your local one-percenter.