EagleTribune.com, North Andover, MA

December 6, 2012

Letter: Why the wealthy deserve our gratitude

The Eagle-Tribune

---- — To the editor:

Thank you to the rich. Yes, I said thank you to the rich.

For the uninformed, the top 1 percent of income earners earn 16.93 percent of the income but pay 38.67 percent of the federal income tax. The top 10 percent pay 74.47 percent of the federal income taxes. This money allows Congress to spend in a manner that would embarrass a drunken sailor.

But beyond that, the rich create jobs. Sam Moore Walton founded a company named Walmart. Walmart has saved the poor and middle class billions by providing reasonable quality at a rock-bottom price.

Walmart is so efficient that when it builds a store, grocery prices in the surrounding areas fall by 22 percent, thus saving money for people that do not shop at Walmart. Clothing store prices fall by 14 percent.

Steve Jobs had a vision and, in working doggedly to pursue it, gave us products that make our lives easier, that increase our productivity. He fundamentally transformed how we buy and listen to music.

Beyond the companies they create, these men are the most charitable people in Earth’s history: $330 billion in charitable foundations created from this wealth. Even their money creates jobs, products and small businesses. It is invested in other companies, start-ups, new technology, business expansions, all of which create jobs for everyday Americans.

Give a moment’s thanks because without these successful people, the government would not have money to buy votes or hand out charity, and you would not have a company to go to work for to earn your living.

Mark Acciard