The Blinding Effects of Being Really, ReallyRich

The 90% of us who haven’t managed to hoard 76% of the wealth in America are often written off, especially by Republicans, as having character flaws that prevent us from making choices that would lead us to being a Rich Person. In response to the GOP’s savage proposed cuts to health care, Rep. Jason Chaffetz (R-Utah), gifted us with this insight:

"Americans have choices. And they’ve got to make a choice. So maybe, rather than getting that new iPhone that they just love and they want to go spend hundreds of dollars on, maybe they should invest that in health care."

What they’re really saying is to be born luckier. To make yourself whiter. To be more like them. And if you can’t, you’re probably just lazy.

But we know that climbing the next rung on the economic ladder isn’t simply a matter of hard work and tenacity. The unwillingness of the working class to take chances on the stock market and flit around between tech startups isn’t a collective defect — it’s an attempt at self-preservation. We can’t afford to take risks that might reap grand returns. When 69% of Americans have less than $1,000 in savings, the stakes are just too high.

The allure of building wealth isn’t to satisfy our material desires. What we’re lusting after is the peace of mind that we suspect comes along with knowing that our current and future well-being isn’t dependent on things going right all the time. And rich people? They don’t have to worry about that. As a result, their perceptions of risk-taking are seriously askew.

-more-

https://civicskunk.works/the-blinding-effects-of-being-really-really-rich-8f76af74ddec