I’m Thankful for the 1%

Reverie Luxury Yacht, built in Italy (Andy Mitchell)

It may sound shocking to say that I’m thankful for the “1%”. But I am. One of many wise things I learned from my parents is to always be thankful for the blessings you have, because you never know when they will be taken away.

It’s easy to succumb to the temptation of demonizing rich people, simply because they have more money, better seats for the football game, and nicer cars. We are all guilty of it at some point.

The media does it when they talk about Mitt Romney as a “vampire capitalist”, while claiming his millions in charitable donations were “ungenerous” because they mostly went to the Mormon church.

The Occupy movement does it when they implore us to “eat the rich”.

We do it when we scowl at friends with larger houses or new cars and say, “They don’t deserve that.”

Well, as we go into Thanksgiving break, let’s try a different approach. Let’s give thanks to the people in our lives who have given us so much. Let’s thank God for the blessings we have without envying the blessings we think we deserve instead.

Have you ever bought something from Amazon? Watched a Disney movie? Shopped at Walmart? Used a computer? Then you too have benefitted from the innovations and accomplishments of some of the top 25 richest Americans.

Here at Baylor, we are in the process of building a new $250 million football stadium that would not be even close to possible without the extreme generosity of a few families of the “1%”.

Think about your own alma mater. More than likely, many of the academic facilities, dormitories, and athletic fields have family names attached to them. The reason we can go to such beautiful universities is because the “1%” invested billions of dollars in universities across the country.

This isn’t some new phenomenon. Andrew Carnegie is most widely known for being a “robber baron,” a ruthless businessman who controlled the steel business in the late 19th century. A lesser-known fact is that Carnegie funded 2,507 libraries across the country.

This doesn’t mean rich people should be worshipped. God calls us to treat all people equally, regardless of their economic status. The point is, someone is not automatically “evil” or “spoiled” just because they are wealthy, for the same reason being poor does not mean someone must be considered “lazy”.

In fact, vilifying the rich can often have unintended consequences. A few months ago, the Economist reported on one such occasion in Italy. In an effort to restrain the excesses of the wealthy, Italians imposed a new tax on yachts, supposedly only affecting those who didn’t pay their “fair share.”

Unfortunately, with the new tax campaign, business at marinas, fuel stations, and yacht-service companies dropped as well. Thousands of yacht owners moved their boats elsewhere. Restaurants and bars that drew many of their customers from boat tourism took a hit. The new tax policy, though well-meaning, hurt hard-working employees as these other businesses were forced to cut costs or go out of business.

As we spend time relaxing this Thanksgiving break, let’s all remember to be thankful to God for the blessings we have been given. Even if some of them come from the “1%”.

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11 responses to “I’m Thankful for the 1%

  1. Pingback: Values & Capitalism » I'm Thankful for the 1% » Values & Capitalism·

  2. Thanks for the follow. Even my small church body of 1/2 million people benefitted greatly from the generosity of a 1%er who left a large endowment. No one really understood just how much so until the stock market crashed and 50 foreign missionaries had to be recalled. However, his generosity still bought us enough time to establish indigenous missionaries in those countries, and now the their churches are flourishing.

    My uncle was a 1%er. Because of him, a church in the inner city survived for thirty years with no other means of support, and now it has a booming ministry. Lest anyone think it’s just about the money, he also spend upwards of eight hours a night AFTER HIS FULL 12 HOUR BUSINESS DAY helping restore the school gymnasium to code. Many rich people give back more than others will ever know.

    • Exactly. I’m glad you stopped by again. I personally have benefitted as well from the generosity of the super wealthy in contributing to missions trips.

      I’m glad there’s others who realize how unwise it is to blame rich people and assume they “don’t deserve their wealth.”

  3. Excellent thoughts. Have I told you lately how thankful I am for this blog and its author? Hope all your readers have a wonderful Thanksgiving.

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