Before I begin I would like to point out that not all of the 1% are necessary (several famous actors come to mind), but many, like Steve jobs and those similar to him, serve as a beacon to those below them that if you work hard, have a vision, and are strong enough to see it through, then you may be rewarded. It is not guaranteed by any means, but without this living proof that people can do great things many people on the verge of creating something great would falter and fail, and because of it we might not be able to grow as we would have with the 1%.
In a country mired in recession, it may seem hard to find things to be thankful for. But there are many. Because we live in America, even those of us who are going through hard times have access to abundant food, racks of clothing, secure shelter, heating and air-conditioning, and an amazing array of learning and leisure activities.
This is important to remember, not just to keep our spirits up, but to avoid a tragic mistake societies often make: taking the good for granted. Societies that only fixate on their problems are easy prey for scapegoating charlatans--such as those who tell us that our salvation lies in sharing the wealth.
In this past year, it has become popular to collectively blame the most financially successful Americans, “the 1%,” for America's economic problems. The grain of truth here is that some Americans are rich because of government favoritism, such as bailouts, handouts, and other cushy deals. But the solution here is to attack favoritism--not to attack "the 1%" as such. America is still a free enough country where most of its 1% earn their success--through superior productivity that benefits us all.
Consider these examples.
There's billionaire George Mitchell, whom Forbes has called "the father of shale gas," was the prime mover behind the growing shale gas revolution, which is creating hundreds of thousands of jobs and dramatically increasing America’s ability to produce energy--including the clean, cheaper-than-ever natural gas that will heat many of our homes this Thanksgiving.
Other 1%-ers are also revolutionizing industry. In the oil industry, billionaire Harold Hamm unlocked the previously-useless Bakken Shale oil deposits in North Dakota, contributing to the reduction of that state’s unemployment rate to 3.5 percent.
If you do your shopping online, ask yourself whether you would we be able to order millions of affordable gifts with fast, cheap shipping without Amazon.Com billionaire Jeff Bezos, who pioneered online commerce.
And of course, how much more backward and less user-friendly would our consumer electronics be without the late billionaire and Apple co-founder Steve Jobs?
Look at the industries that have dramatically improved over the past several decades, and you’ll see a pattern: certain super-productive individuals have led the way. These individuals invariably fall under the 1% of income earners--often the 1% of the 1%.
They made so much money precisely because they created something that was so much better than what came before.
We should not take for granted that we live in a country that fosters and rewards productivity like no other. There is a reason why we are the destination for the “brain drain” from other continents. In no other country are high achievers as free to have a vision, to act on it, and to accumulate and reinvest capital--even when they are unpopular, even when “the 99%” disagree.
So, at a time when the 1% are the easy scapegoats, it’s fitting this new year to take a moment to thank the 1%--and to be grateful that our country rewards success.
This question is ridiculous. There is no scenario where there isn't a top 1% because well it's how percentages work. Learn some math.
However if the question was "Is it necessary for the gap between the 1% and the rest of us to be as big as it is." I would say "no". Many other countries with better life expectancy, better health care, lower crime rates, better education have less of a gap compared to the United States.
The 1% are parasites on the working people, who actually work for a living. The existence of the 1% seems to cause nothing but oppression. Take landlords, for example, who make money just by owning buildings, stealing money from people who actually work, without doing work themselves. Look at how much lobbying takes place in the government. Look at how corporations lobby for loose environmental regulations. Look at how companies like Walmart pay their workers next to nothing, Look at how we have private prisons corporations lobby to continue the drug war. The 1% should be destroyed. We need a socialist revolution.
Any ruling class is necessarily an army of professional sadists, and I will be so bold as to venture that the american plutocracy is the most belligerent such army that has ever existed in world history; those twits we fought in WW2 will prove to be rank amatures by comparison.
Let alone the fact that they have pushed us into a low-wage plantation economy that's as inefficient as it is exploitative.