Happy Steal the Wealth Day!

from an article by Michael Lind on Salon.com--

"Today is Labor Day, when we celebrate the wealth destroyers – at least if the libertarian right is to be believed.

According to many free-market conservatives, economic growth is almost exclusively the result of investment decisions by a small number of rich individuals – the "wealth creators." The wealth creators, according to the conservative press, are constantly being threatened from above by government, which seeks to destroy wealth by taxation, and from below by workers, particularly those organized into unions, who threaten to destroy wealth by insisting that capitalists share a decent amount of their profits with employees. The entire basis of conservative "trickle-down" economics is the idea that the economy will grow faster if the supposed wealth creators keep more of the profits of private enterprise, with less going to taxes and worker compensation.

If you believe this theory, then Labor Day should be a cause for national mourning. We should all pause to mourn the loss of capital that might have gone to a fifth or a sixth mansion or a private jet, but instead was conscripted against its will to pay for a public school or higher wages in a factory.

We should weep for the capital that might have given its life for high-end caterers but instead was forced by government to be spent on public hospital nurses. And we should grieve for the dollars that were wasted on public police protection, when they might have gone instead to private security guards in a gated community.

But maybe instead of mourning we should celebrate. Maybe Labor Day should be replaced by a new holiday to celebrate the tiny number of brilliant investors who, more or less single-handedly, are responsible for long-term economic progress. We should abolish Labor Day and replace it with Capital Day – a festive time when we, the majority of parasitic wealth destroyers whose income comes from wages rather than investments, can give our collective thanks to the small number of people who have most of the money."

rojo