People love their big paychecks, but they also value their sanity. One of the most astonishing manifestations of disconnected-from-reality hubris is public authorities’ sublime confidence that employers and entrepreneurs will continue starting and operating enterprises no matter how difficult and costly it becomes to keep the doors open, much less net a profit. The average employee / state dependent reckons that the small business owner / entrepreneur is killing it financially, banking a small fortune in pure profit every month, and that they’re doing what they love so they’ll continue doing it no matter what. In other words, they’re all wealthy Tax Donkeys who can easily afford higher taxes and fees and will
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The number of small businesses that will shut down in the coming recession will astound governments counting on higher revenues from the Tax Donkeys.The number of highly productive and highly paid workers who quit or retire early will be equally astounding to Corporate America, which blissfully assumes the Productive Class will take every increase in workload and responsibility that’s shoved on them because they love the big paychecks so much.
People love their big paychecks, but they also value their sanity; and after years or decades of corporate servitude, an unexpectedly large number will regain their long-lost agency, which they will express by quitting and bailing on their high-cost lifestyle. When the Productive Class has been pushed hard enough, they will opt out, and the corporations and governments that have counted on their servitude will find that all of their systems no longer function well, if at all, once their most productive peons toss their servitude in the nearest dumpster and opt for a much lower cost and lower-key life. |
State and Local Spending vs Private GDP, 1950-2010 |
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