By - January 26, 2012

Why Hate The Rich?

Nebraska has been front and center in the 99% “hate on” for the remaining wealthy 1%  and the President has been trying to capitalize on this sentiment, making his feelings very public during the State of Delusion Speech Obama gave recently.  Obama’s guest during the speech was the much talked about Debra Bosanek, Warren Buffet’s secretary.  Mrs. Bosanek was made famous by Buffett’s “I don’t pay enough in taxes” editoral, in which he complained that he only pays 15% (the amount paid on dividend earnings) while his poor starving secretary pays a much higher percentage, around 30%. 

Before we get a real case of our “hate on”, let’s look at how poorly Mrs. Bosanek is doing.  Reports are Mrs. Bosanek and her husband recently purchased a second home just outside of Phoenix, AZ. which includes a swimming pool and a PGA putting green.  Hard to believe, I figured she lived in little more than a cardboard box, but their primary residence in Bellevue, NE is a stately 2568 square foot home, valued at $218,000.  Forbes Magazine approxiamated Mrs. Bosanek’s income based off her reported tax percentage and they figured she makes between $200,000 and $500,000 a year.  How do I apply for her job?

All the class warfare aside, “yes” some ultra-wealth do pay a smaller tax percentage than the middle class, but what if they really got soaked.  I believe we wouldn’t see the following headlines:

Ricketts: Fights On To Save Holy Name.

Pete Ricketts (of the Ricketts family that owns the Chicago Cubs) is getting a group of benefactors together, which in large part includes himself, to save Holy Name elementary school.  The Omaha diocese was going to have to shut down Holy Name for financial reasons.  Holy Name is in North Omaha, an area known to be below the poverty line with gang and drug problems.  Ricketts realizes the ONLY ticket out of that area for the children raised there, is to get a good education and students from Holy Name graduate High School at a 98% rate.  Ricketts and many other rich benefactors will be getting together to make sure these children have a shot in life.

If the government taxes the rich, blind, then would we see examples such as this?  I think these examples would be few and far between. 

Mitt Romney has been castigated for making millions of dollars while paying just under 15% in taxes.  What has always been left out of the story is that Romney donates millions more to various charities.

Why should we hate the 1%?  Many of the ultra-weathy are also ultra-generous and thankfully so, because many of us in the middle class could not save a school, or care to save a school in a poor area of any city, but the ultra-rich Pete Ricketts’ of America do care.  Without rich people like Ricketts what would become of many of our communities?  The answer is out there for all to see….Communist Russia.

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