What The Rich Really Think

by Stuart Shapiro

For the conspiracy theorists among you, Henry Blodget (who is quite wealthy himself) pulls back the curtain on how the rich think about the rest of us:

People like me don’t hate Obama because he’s going to raise our taxes, although we hate that plenty.  We hate him because his views about the importance and primacy of the middle class diminish our status.  The threat he represents isn’t economic; it’s existential.  It’s not just our pocket books that are threatened, but, more importantly, our prestige and our influence on this country.  Our manhood is at stake. . .

When Jack or Mitt or I call ourselves “Job Creators”, it isn’t because it’s true or that there is any evidence for it. It’s because being a job creator puts us right at the center of the economic universe – where we deserve to be.  This belief system isn’t just convenient to us, although it is. It’s essential in order to justify our status and power.
I’m ready to grab my pitchfork!

About Stuart Shapiro

Stuart Shapiro Stuart is a professor and the Director of the Public Policy program at the Bloustein School of Planning and Public Policy at Rutgers University. He teaches economics and cost-benefit analysis and studies regulation in the United States at both the federal and state levels. Prior to coming to Rutgers, Stuart worked for five years at the Office of Management and Budget in Washington under Presidents Clinton and George W. Bush.

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