Looks like we have a lot in common
Bullthrower338...
I enlisted as a private in the French Army to put myself through prep school and I took the national competitive entrance exam to the St Cyr Special Military Academy, the equivalent to West Point except that in France 2,000 take the exam annually and only the best 200 get in. I was one of them, not through talent, but sheer hard work and perseverance. When France took the socialist turn in the 1980's I chose to emigrate to the US, created my own company, fed my kids with the money I made, no plan B - a strong incentive, and when I sold the company and joined corporate America and my education was not deemed good enough by corporate HR, I went back to school and earned an MBA and a PhD. It was not easy being a full time student; working 60 hours a week; and raising 5 kids with my wife. So, I respect and know well the school of hard knocks. Like you, nothing was given to me, included my U.S. citizenship that took over 10 painful and doubt-filled years to get through the legal channels.
I agree
LivingTheDream, that we as a society are doing our kids no favor by failing to raise them, educate them, harden them to the realities of life, etc. and making them believe that just because they exist everything is owed to them. Door prizes are a great tragedy and do not teach the same lessons as the dry realization that second place is actually first looser... My wife hated when I said that to the kids! Good kids, supported by good parents (I mean 'morally supported', not 'financially supported') can still extirpate themselves from the politically correct morass of failing schools, useless college, surrendering parents, "offended" society, all rights and no duties culture pounded into them by academia, the press, progressive politicians, peers, entertainment, etc. but not every kid is supported...
None of the above do I challenge.
What makes me take a second look at the balance of our societal contract is when "
60 of the nation’s biggest corporations didn’t pay a dime in federal income taxes in 2018 on a collective $79 billion in profits, the Institute on Taxation and Economic Policy said today. If these companies paid the statutory 21 percent federal tax rate, they would owe $16.4 billion in federal income taxes. Instead, they collectively received $4.3 billion in rebates. For years, corporations have manipulated the system to avoid paying taxes, and it’s clear that the 2017 tax law did nothing to change this,” said Matthew Gardner, a senior fellow at ITEP and lead author of the report." (Institute on Taxation and Economic Policy -
https://itep.org/60-fortune-500-companies-avoided-all-federal-income-tax-in-2018-under-new-tax-law/).
Is it getting too hard for good kids and too easy for mega corporations?
Do not get me wrong, I understand rewarding the capital and giving tax credits for investments ... except when the capital we reward is the one that is fleeing to offshore tax shelters, and the investments for which we give US tax credits are made outside the U.S.
Last year, Netflix, Amazon, Chevron, Delta Airlines, General Motors, Gannett, Goodyear Tire, Halliburton, IBM, Jetblue Airways, Principal Financial, US Steel, Whirlpool, General Electric, etc. paid $0 taxes on $79 billion in profits. Our five kids paid their student loans (I wish I had known how futile it was for me to push them to go to college - an immigrant utopia?) and they paid their taxes... As I did. And as I am sure you did. And your kids too...
The unreasonable concentration of wealth at the top is by necessity reducing the equitable distribution of earned wealth by those who created the wealth, at the bottom or in the middle. It is mathematically impoverishing the lower economic class and gradually eliminating the middle class, NOT by raising it to the top, but by driving it to the bottom.
THAT is what I think needs to be re-balanced. NOT doling out unearned wealth, but distributing equitably wealth earned through hard work. This can be done many ways: balanced individual, corporate and capital taxation; meaningful 401K, or that vanished American Dream staple: the retirement pension; employer funded health care, another vanishing pillar of the American Dream economic system; affordable trade-focused education; etc.).