Investors take risk, get reward
To the Editor:
There have been some real good socialist ideas in the letters lately. Too bad all of us couldn’t get our business sense from a Cracker Jack box, everybody’s world would be a better place!
Employers should provide high wages, big retirement packages, and no cost health benefits. Profits should be redistributed to employees and not the investors who took the risk. In order to produce income producing jobs companies have to survive.
In this new global economy America is no longer the big or only dog on the block when it comes to industrial might or producer of the goods we and the world wants. Our companies no longer operate in an environment where the competition has to face the same economic, regulatory, tax, or employee cost pressures. People like a good deal but the contrast between high wages and a low cost of living is why more and more things come from China.
There is a difference between investment and wage income. If you work a 40 hour week you get 40 hours of pay, no risk. When you invest you could get a good return or lose it all. The idea that investors shouldn’t get dividends because it is greed is part of the war on Wall Street. The thing people miss is if you have a 401(k), pension plan, mutual fund, etc. they work off investments and you benefit from Wall Street.
If employees should be able to share profits in good years shouldn’t they also be accountable for the liabilities in bad years? That would be equitable!
The real inequity in this country is skill, education, ability, ambition, and drive and that is reflected in income. The American dream isn’t dead but this class warfare and call for redistribution will kill the drive that achieves it.
Weekly Arts and entertainment guide for Calaveras and Tuolumne counties