Audio Clips

21 October 2011

Stossel on Occupy Wall Street

John Stossel wrote a recent op-ed on the Occupy crowds.  It's worth reading, but here is the part that I liked in particular.

[I]t shouldn't matter if the income gap between you and rich people grows. What should matter is that your living standard improves.

Your living standard many not have improved lately. Over the past decade, median income fell. But that's an aberration largely caused by the bursting of the real estate bubble. Despite Wall Street protesters' complaints about rich people gaining at the expense of the poor, the poorest fifth of Americans are 20 percent wealthier than they were when I was in college, and despite the recession, still richer than they were in 1993.
And income statistics don't tell the whole story. Thanks to the innovations of entrepreneurs, today in America, even poor people have clean water, TV sets, cars, and flush toilets. Most live better than kings once lived—better even than the middle class lived in 1970.

I have never understood how it is detrimental to me that there are people who are significantly richer than me.  So what?  I'm not in some race with them.  I don't envy them the life they have to live to get the lifestyle they have.  I'm not interested in it.  I'm living my life the way I want and my standard of living keeps improving.  The goods and services that are available to me get better year after year.  What do I care that there are billionaires in the world?  Why should I demand that they give me their money?  They didn't steal it from me so it's not mine to demand.

No comments: