Finally a really good news story. A bunch of very wealthy people, almost all millionaires have decided the economic path of the US is not good and not sustainable. They believe that a strong middle class along social mobility which helps the poor move into the middle class and can make millionaires out of the middle class is much preferable to the current system that is increasingly destroying the middle class and eliminating social mobility. The name of this organization, Patriotic Millionaires
Why have they banded together? Simple. They believe a viable middle class that grows every year is ultimately better for them. They have nothing against the super rich and their wealth because they are the super rich themselves. In fact, they want to see even more people in the US join the super rich.
However, they understand a world of falling demand, deflation, price comprehension and social instability isn't good for the country and in the long term not good for their own pocketbooks. They favor policies that provide worker training, infrastructure development, educational assistance, fair tax policy, and the like. The group believes that sensible regulation is good for Americans and good for business. They are for trickle up not trickle down economics. Their message to Congress: "Cut Americans a Better Deal." Finally, the association thinks that patriotism should mean more than money.
They also believe that private enterprise should play a role. Patriotic Millionaires believes the current system undermines not only the economic success of the US but is self destructive to corporations in the long term. They want corporations to provide good paying full time jobs instead of offering a sea of gig, part time and contract work.
I've checked out their website (patrioticmillionaires.com) and was impressed by a lot of what I saw. Their own Chairman Morris Pearl is a billionaire. Its refreshing that some of the 1% have finally said we've had enough economic destruction in the US and it won't benefit any of us long term.
I'm sure this article will get a backlash of critics either saying I'm clueless or these men and women are nothing more than a bunch of showboats. But then again the critics won't bother to pursue the website. I saw the Chairman on RT America the other night and like what I heard but was still a bit dubious. Then I checked out the website and really liked what I read.