LETTERS: WEALTH MAKES JOBS IN OUR ECONOMY

To the editor:

I have noticed that when I read the newspaper, many articles contain complaints about individuals having wealth. People generally have wealth because they either inherited it from someone who generated it or they generated it themselves. Libertarians do not understand why anyone should be made to feel guilty for generating wealth. It is a misconception that wealth is stagnant. Wealth can be created through new goods. Government does not create wealth. It only redistributes it. Creation of wealth creates jobs. It is the only true creator of jobs. Our standard of living in the United Sates is increased by these new jobs. Why should anyone like Bill Gates or Michael Dell feel guilty for creating thousands of jobs? Sure, they have pocketed a share of the wealth, and so they should, for they are the true heroes of America.

Why is it not better to pay these dividends gained to the government? The answer: Because the government would not create jobs that would be productive. The government is not a producer. It take money by force from the taxpayers and redistributes it. Therefore, there is no net gain in wealth. The rich would use this money to create wealth and jobs. They may make themselves richer in the process, which in turn continues the cycle of growth.

We are benefiting from the Information Age that is generating a tremendous amount of wealth which in turn is generating a tremendous growth in jobs. Between new growth in capital and the reduction in military spending, we are able to reduce our budget deficits. How long this new age will last no one knows. We can only guess. We do know that the Industrial Age is slowly diminishing its impact on the economy. The government now employs more people than are employed by manufacturing.

If you feel Bill Gates should feel guilty for being so wealthy, think about it. If anyone deserves what he has earned, it is Bill and the thousands of others like him.

JAMES NALL

Marble Hill