Friday, September 26, 2008 at 9:09am
The Soul of a Nation
Column: Executive Soul
Since when did unbridled greed become something for a nation to reward, and at the expense of taxpayers, no less? What is happening to the soul of the United States, a nation that was built on hard work and an honest day’s wage?
Values voters need to stand up to a government that wants to rescue wealthy speculators who kept reaching for more until their house of cards collapsed. To add insult to injury, the current administration is proposing using the tax dollars of the hard-working middle class to rescue the greedy rich.
The current financial fiasco has exposed the house of cards that speculators built up. By taking on risky investments, investors built up a bubble like the Dotcom bubble of the nineties. It was inevitable that the bubble would burst. Now that the bubble has burst, these investors must bear the brunt of the risks they assumed. It’s not right for those at the top to get rich no matter what they do, while the middle class suffers the consequences of the rich’s actions.
To be sure, the nation’s economy is shaky at the moment, and something must be done. But there are many other approaches to rescuing the economy, approaches that are consistent with America’s traditional values of honest pay for honest work.
For example, an alternative approach could put checks on greed and use middle-class taxpayers’ dollars to help middle class people who are losing their homes as a result of the greedy speculation of the wealthy. An alternative approach could also put caps on out-of-control executive pay and on “golden parachutes.” (Why does any executive need to make 344 times the pay of the average worker in the company? Why does any executive need to receive a $53 million “golden parachute” when leaving a company, when the company’s workers are losing their homes, their jobs, and their retirement?) An alternative approach could also require transparency in accounting, so that ethical practices in investing and corporate financial structures prevail.
The soul of America grew strong because of the character of Americans — honesty, integrity, and hard work characterized earlier generations. It’s time to return to those values in order to strengthen the soul of the nation. If we do, we can rebuild the country on a solid foundation. If we don’t, the house of cards will collapse completely.
— — —
Margaret Benefiel, Ph.D., author of "Soul at Work: Spiritual Leadership in Organizations," and "The Soul of a Leader: Finding Your Path to Success and Fulfillment," works with leaders in business, healthcare, churches, government and non-profits to help them develop spiritual leadership. Visit her website at www.ExecutiveSoul.com. © Copyright 2008 by Margaret Benefiel.
Values voters need to stand up to a government that wants to rescue wealthy speculators who kept reaching for more until their house of cards collapsed. To add insult to injury, the current administration is proposing using the tax dollars of the hard-working middle class to rescue the greedy rich.
The current financial fiasco has exposed the house of cards that speculators built up. By taking on risky investments, investors built up a bubble like the Dotcom bubble of the nineties. It was inevitable that the bubble would burst. Now that the bubble has burst, these investors must bear the brunt of the risks they assumed. It’s not right for those at the top to get rich no matter what they do, while the middle class suffers the consequences of the rich’s actions.
To be sure, the nation’s economy is shaky at the moment, and something must be done. But there are many other approaches to rescuing the economy, approaches that are consistent with America’s traditional values of honest pay for honest work.
For example, an alternative approach could put checks on greed and use middle-class taxpayers’ dollars to help middle class people who are losing their homes as a result of the greedy speculation of the wealthy. An alternative approach could also put caps on out-of-control executive pay and on “golden parachutes.” (Why does any executive need to make 344 times the pay of the average worker in the company? Why does any executive need to receive a $53 million “golden parachute” when leaving a company, when the company’s workers are losing their homes, their jobs, and their retirement?) An alternative approach could also require transparency in accounting, so that ethical practices in investing and corporate financial structures prevail.
The soul of America grew strong because of the character of Americans — honesty, integrity, and hard work characterized earlier generations. It’s time to return to those values in order to strengthen the soul of the nation. If we do, we can rebuild the country on a solid foundation. If we don’t, the house of cards will collapse completely.
— — —
Margaret Benefiel, Ph.D., author of "Soul at Work: Spiritual Leadership in Organizations," and "The Soul of a Leader: Finding Your Path to Success and Fulfillment," works with leaders in business, healthcare, churches, government and non-profits to help them develop spiritual leadership. Visit her website at www.ExecutiveSoul.com. © Copyright 2008 by Margaret Benefiel.