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To be Wealthy is No Longer Cool

To be Wealthy is No Longer Cool

August 22, 2008 2:19 pmComments are Disabled

A common theme has arisen in this campaign, not necessarily more so than any other political campaign:  to what extent does a candidate’s wealth mean he’s “out of touch” or “elitist,” and in what way can the opposing camp use a candidate’s wealth against him?

This was evident early on in the Democratic race when the candidates were asked if they sent their kids to public or private schools.  Chris Dodd and Barack Obama ended up getting into an argument over whether or not Dodd’s children’s education was sufficiently “common” enough–and it turned into a competition over who was the poorest.  Dodd tried to convince the audience that he’s not doing so well.  “You’re doing all right, Chris,” was Obama’s reply.  It was surprising to me that suddenly, being wealthy in America is big problem.  At least when it comes to politicians.

What is ironic, of course, is the last president we had who was not “elite” when he entered office and just as “common” when he left it was Truman–that’s 60 years of presidential candidates, all of whom try to portray themselves as fundamentally “common” to appeal to everyday voters.  It is easy to see why candidates do it.  Most voters are middle class, and to appeal to these voters it is important to come across as being one of the bunch.  But what is upsetting is how many people buy into the dialog that wealth is a stigma in public life.

The noble public servant, it is said, should be willing to work for no pay.  It is hard to be a noble servant, therefore, if one does not have any money.  Some people believe public servants should receive more pay.  But if they are paid well, they are accused of self indulgence and elitism.

No wonder only people with money end up becoming politicians these days!  The barrier to entry is so high, it requires so much experience in business, finance, law, the military, and networking, that the people who end up at the top can’t be very “common” anymore.  The belief of Thomas Jefferson was that any man could become president, no matter how “common.”  But, then again, Jefferson believed that “commoners” were a) Male, b) Landowners and c) White, so I don’t know how well that analogy works.

Here’s the problem.  In this withering economy, people are getting poorer.  They naturally want to relate to the candidates.  But being wealthy in America, assuming the wealth is earned, not inherited, means that one is successful to some degree.  A wealthy person is a competent person, a smart person, a sociable and wise person.  Why wouldn’t people want that person in the White House?

I just don’t buy that Obama, who just paid off his college loans and has been fortunate enough to be blessed with a bestselling book and a meteoric career, should be chastised for being too wealthy.  Isn’t that what the American Dream is about?  The immigrant with ten cents in his pocket doesn’t land on the shores of America to become the most common person in all the land.  The streets to that immigrant are not paved with guns and religion, but are paved with arugula and gold!

And then we look at McCain, who himself is no wealthy man, but happened to have married a very wealthy woman.  How can we hold that against him?  I smell hypocrisy from the Obama campaign, who criticized their opponents for vetting Michelle, yet feel free to harpoon McCain’s “Wealth” as if he had anything to do with making it.

The way I see it, a candidate’s finances should not be any of the public’s business.  But if they are, they should be treated with admiration, not disgust.  It is not Obama or McCain’s fault that they want to do better for their families, and they shouldn’t be criticized for wanting to do better for yours.

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