Its easy to blame the rich for the economic problems, especially with all the stupidity concerning the bank bailouts. Likewise, if one looks at the Suits Index, actuarial data is pretty clear that our tax laws are pretty regressive, and its even more depressing when one views the Suits data over the last 20 years.
The thing is… its not just the rich, its nearly all of us. Folks dont want their 401K’s depleted, they dont want $8/gallon gasoline, they dont want reductions in govt benefit checks, they dont want a substantial decrease in standard of living. No one wants to risk what they have now, even if such would likely result in a better world in the future.
This is perhaps best illustrated with “The Red Button Problem“
In the summer of 2000, I asked a group of 100 people at a conference of spiritually committed people who would push a red button if it would immediately stop all narcotics trafficking in their neighborhood, city, state and country. Out of 100 people, 99 said they would not push such red button. When surveyed, they said they did not want their mutual funds to go down if the U.S. financial system suddenly stopped attracting an estimated $500 billion-$1 trillion a year in global money laundering. They did not want their government checks jeopardized or their taxes raised because of resulting problems financing the federal government deficit.