Wednesday, July 11, 2012

The largest transfer of productivity in American history

Ms. KAPTUR. Mr. Speaker, I rise today to talk about what is nothing less than the largest transfer of the American people's wealth from Main Street to Wall Street. It is likely the largest transfer in American history due to the fallout from the financial crisis of 2008.

Source: WALL STREET V. MAIN STREET

Is it possible we have this backwards?


What if this is less about the largest transfer of wealth, and more about the largest transfer of productivity in American history?

Wealth is accumulated through hard work.  Ask anyone who has accumulated wealth.

Is the "transfer" happening because fewer people are working hard?  What if people are working hard at not working?  Take the lottery as one example.  That is a massive and regressive redistribution of wealth program.

Is the "transfer" happening because fewer people enjoy the benefits of their hard work?  Are there policies in place that are holding people back?  Are we letting fewer and fewer people enjoy the benefits of their work?

Bottom line: I would rather build up the work ethic than tear it down.

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