Wealth In America

Don’t tell us “we don’t have the money.”

America is, and has been for decades, the financially wealthiest country on earth.  This can be measured by Gross National Product (GNP), the size and expenditures of federal, state and local governments, by the fact that even financial calamities that years ago would have crippled the nation are routinely avoided.   Yet one of the truest measures of American wealth can be found in how this precious resource is allocated and, from a practical reflection, wasted.

Let’s start with just the proverbial “tip of the iceberg.”

Next to an irrational anthropometric love for fido, Americans are absurdly smitten by athletics.  Between Major League Baseball, the National Football League, the National Basketball Association, and the National Hockey League alone, hundreds of billions, if not trillions, of dollars are spent on the salaries for our athletic heroes, managers, coaches and administrative staffs.  Also, extraordinary payments are routine in college athletics where coaches and Athletic Directors and other athletic department personnel are compensated at astronomical levels.  That’s just one side of the equation.  New athletic facilities are routinely constructed nationwide. 

A new stadium was constructed to house the Minnesota Vikings.  It cost $1.1 billion – a “B” billon dollars - for the home town lads to play 8 to 10 games yearly.  Another football stadium was also constructed on the campus of the University of Minnesota at a cost of $303.3 million.  Previous to all this avarice both teams shared the old Metro-Dome in Minneapolis for their games.  Then we musn’t forget the Twins ballpark, built just for them, at a cost of $555 million.  They too once shared the Metro-Dome with the Vikings and the Gophers. 

Obviously, the Timberwolves of the NBA and The Wild of the NHL could never be expected to share the same facility.  SOOOO, a separate basketball venue was built in Minneapolis and yet another hockey venue was built in St. Paul.  The Twin Cities has a new soccer team.  You guessed it…they too have a spanking brand-new facility.  The only team that shares a facility is the woman’s professional basketball team, the Minnesota Lynx, the only team that wins on a consistent basis.

 To add insult to injury, much of these construction costs were paid for with taxpayer dollars.

 Now let’s pay a visit to Los Angeles, California – You’ll want to sit down for this.

L.A. has a new football stadium to house TWO NFL teams.  The Los Angeles Rams and the Los Angeles Chargers, who recently moved to L.A. from San Diego.  This goliath cost $5 billon.  This actually makes the Twin Cites appear to be frugal. 

 L.A. also embarrasses Minneapolis/St. Paul in that the Staples Center is the home to three professional teams.  The Los Angeles Lakers, The Los Angeles Clippers of the NBA and even the Los Angeles Kings of the NHL.

 These are just two of the more than 30 cities that are homes to professional athletic teams.   Those 30 plus locals, along with many other cities are also homes to colleges and universities with major athletic programs that demand funding.  To total all these expenditures would be terrifying. 

 Next, we are faced with the exclusive rights agreements to broadcast and telecast professional and college sporting events.  Fox paid $575 million ($15 million per year) for the rights to publicly air major league baseball games.  That’s just one contract for one sport.  No sense in pursuing ESPN or local radio and television contacts rights.  Baseball alone gives us a clear enough indication as to the money that is spent in this area as well.   

Let’s not forget the billions if not trillions of dollars paid to CEOs nationwide, or spent on other entertainment venues; actors and actresses, directors, studio heads and etc.; the music industry recording artists, composers, producers and record company personnel. 

These folks don’t make a living they make a fortune.

Just A Few Examples:

Ralph Lauren                      $8.2 Billion

Oprah Winfrey                   $3.2Billion

Paul McCartney                 $1.2 Billion

J.K. Rowling                      $1 Billion

David Copperfield             $1 Billion

Jerry Seinfeld                     $950 Million

  The next time you hear someone attack the safety net programs provided by the government, ask yourself why those who have the means to provide these humanitarian programs, refuse to do so.  With very few exceptions (The Bill & Melinda Gates Foundation) that is where we should focus our wrath and NOT on those who are continually frustrated in their attempts to provide the necessities that no one else will provide.   

The last problem we have in America is a lack of financial resources.

 We have more than enough money to do whatever NEEDS to be done.

 The problem is selfishness and ignorance.  We squander the precious resource at an alarming rate. Therefore, the vast majority of our wealth is in the hands of all the wrong people. 

 We also focus our frustration in the wrong areas.  We are too willing to conform to the excesses for our personal gratifications – NOT OUR NEEDS.  We are comfortable in allowing those with financial power to frighten us (we’ll close the doors and put people out of work - The Twins and Vikings will leave town) and ignore the continual lies and deceptions to further their insatiable greed for unnecessary opulence and overindulgences i.e.  feeding the hungry, sheltering the homeless, providing medical for the sick and dying is socialism – BUT – stadiums aren’t.  They are indeed the architects of this waste.  Our condemnation needs to be on their opulence and overindulgence and not a humane government attempting to ease the pain and suffering.