Wednesday, April 24, 2013
The Preferences Of The Wealthy Are Really Different Than Those Of Ordinary Americans
Scott Fitzgerald believed that the wealthy are really different than ordinary Americans. Ernest Hemingway explained that they are different. They have more money. It turns out that the difference is more complicated than Hemingway believed. The wealthy have a different perspective on many issues than ordinary Americans. This article reviews some of those differences. The preferences of the wealthy line up very well with the budget proposals that have been made by Paul Ryan. Ordinary Americans have a much stronger preference for social security, and government supported healthcare than the wealthy. There are other differences as well and some similarities. Of course, self interest explains some of the differences but they are more nuanced than naked self interest. The wealthy don't have much use for government intervention in the economy. That is their playground, and the government is not invited to play.
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