In the Richmond Times Dispatch, a letter writer expressed his concern that some in the business world were making way too much money. He concluded that they should be compensated less and spread that money among others. Many of us have concerns too about the mega income that some are paid. I will return to that point later. First, let me point out some errors in the letter writer’s thought process.
First, he expressed concern about what business leaders are paid; completely ignoring the equally grotesque income of some in Hollywood and on the playing fields and arenas. This is a glaring offense to many that a ball player is worth anywhere near the income of a business leader who is creating jobs and wealth for stockholders. I suggest the writer consider this if he is truly concerned about the issue of fairness.
Second, the letter writer fails to understand how people spend the money they are paid. Sometimes that money goes to charities, other times it is spent on goods that provide job opportunities to others.
As an example, 20 years ago the federal government decided to tax luxury items such as big boats and personal airplanes. During that time, I would pass the Hatteras Boat Company in High Point, North Carolina each week. Every week, prior to the new tax, the parking lot would be filled with employees’ cars and new boats ready to be shipped. After the tax, the parking lot had fewer and fewer vehicles. In a matter of months, the lot was empty and the building had a “for sale” sign out front.
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To read the entire column pick up the July 15 edition of the Brunswick Times-Gazette.