Happy Labor Theory of Value Day, by Tom Luongo

Why Labor Day is Tom Luongo’s least favorite holiday. From Luongo at tomluongo.me:

Y’all know how much I dislike commies.  Labor Day, in particular, is one of my biggest pet peeves.  It’s literally my least favorite holiday, right up there with Presidents’ Day.

By contrast, I’m a huge supporter of Thanksgiving.  We should spend our days of rest being thankful for what we’ve achieved and not feeling entitled to something we didn’t earn.  That’s the essence of Labor Day, a day designed to reinforce the cultural divide between the entrepreneur and the people he employs.

Labor Day is rooted in Karl Marx’s misbegotten Labor Theory of Value, which holds that Labor is the most important part of the production cycle and therefore should get the lion’s share of the profit from sales.

Of course this idea is nonsense because it deprecates the imagination and risk-taking of the entrepreneur to zero while elevating the laborer’s contribution far above its contribution.  At its heart is an unquenchable envy of those who don’t dream, organize and risk anything, to expropriate the rewards of those who do.

It’s nothing more than that.  Those that feel exploited ultimately have to look at the person in the mirror and decide to stop being a victim and change their state of being.

That said, these ideas flourish in an environment where the money is corrupt, ensuring that the entrepreneurs are offered the choice to become rent-seekers and steal unearned wealth from those that toil for them.

The problem today is that we have allowed both the rent-seekers and their proletariat water-carriers to join forces to squeeze out the middle class.  The fundamental problem of today’s leftists is that they cannot see this basic fact; that they have helped create the very economic divide they rail against by treating the local shop owner they work for who can barely make payroll every two weeks with the CEO of Raytheon.

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