The Entrepreneur is the True Economic Engine
President Obama feels it’s not too radical to ask corporate jet owners and millionaires to pay higher taxes. As our government bureaucrats express their ability to create jobs, they actually hinder the true job creators. These oracle geniuses conveniently fail to recognize the entrepreneur as the true economic engine to our economy. Whether it is the gas station owner, the farmer or the retail store owner, the entrepreneur is what defines American Exceptionalism.
Only China and Japan are two other countries with economies large enough to support our federal government’s massive $3.8 trillion spending habit. They spend more than the countries of Germany, France and England. With a spending addition such as that and a $14 trillion debt, our federal government has become a drag on our economy and they have the nerve to demonize the corporate jet owners.
Over 188 large bureaucratic countries prove the greatness of capitalism. The government is a blunt instrument and only should be used for things such as national defense, securing patents and protecting individual rights. There are too many examples of oppressive governments hindering the entrepreneur. There is not one corporation that could run off the government efficiency and still survive as a business. As our governments claims investment in courthouses, railroads and electric cars, they forget to realize that these are support mechanisms, not products that create a demand. But they must pay for this through taxing or borrowing from our future generations. Whichever way, it reduces the wealth for our children and ourselves.
During the 1960s, our nation embarked on a goal of putting a man on the moon. After a decade and $3 billion later, we proudly met that goal. Even though putting a man on the moon is a proud endeavor, some champion NASA’s failures as successes in the private sector world. Yes, they provided the technology for hand-held vacuums, firefighter breathing apparatus and safer runways but this is only evidence of their failures at the attempt to meet their original goal. They are championing NASA’s failures as a success, not a good case of money well spent. Today, NASA is shutting down, providing Muslim outreach and soon hitching rides to outer space from the Russians. We stopped at the goal of putting a man on the moon over 40 years ago and took it no further.
Nearly a half century earlier, an entrepreneur named Thomas Edison was literally lighting up the invention world. He would be awarded 1,368 patents during his lifetime and have accomplishments equally as impressive as NASAs and enhanced mankind’s life forever.
As our government housed massive computers in rooms, three college dropouts in a garage would invent the personal computer. It would create more wealth than anyone could imagine and they revolutionize how humans interact. No one can say that they do not pay their fair share in income, sales and property taxes to name a few. They provide real jobs where a true product is created where people are incentivized to demand it. Hence, supply and demand.
The Constitution does give our Federal Government some authority, for example, to establish a Post Office. But in the 1970s, our Congress made it an official monopoly. Because of this, FedEx and UPS are not allowed to deliver non-urgent letters and may not use the Mail boxes. As we, the citizens, are responsible for the maintenance of mailboxes, USPS dictates the use. According to the WSJ, the USPS lost $14 billion in 2009 and 2010. They blame electronic mail but it clearly demonstrates another inefficiency in our government to conduct business.
In addition, the entrepreneur takes the imagination and makes it reality. FedEx was turned down by many bankers because those bankers saw no need for overnight delivery. Boy, were they wrong.
American ingenuity saved the lives of the trapped Chilean miners. Even though NASA is plastered propaganda of their contributions, an entrepreneur from Philadelphia provided the drill bit that was delivered by…guess who? FedEx. It was the individual entrepreneur, including the Chilean miners that saved their lives, not any bureaucracy. But they were surely there to take credit and the media obliged.
With our 1930s “New Deal” and the most recent $1.5 trillion stimulus and bailout packages, the evidence is that Keynesian economics does not work. Whereas Bill Gates, Steve Jobs, Michael Dell and other computer whizzes brought true prosperity to the 1990s, the government loves to claim their fame to that decade. This was a period to where the true entrepreneurism was unleashed with no restrictions. And, of course, the government now wishes to control it through net neutrality.
For our government they must pay for their expenditures by taking it away from someone else. Free healthcare isn’t free and as long as the federal government is involved, it will not be affordable either. But they must take it from the citizen to give it to Planned Parenthood or PBS. This means that they are taking the consumer choice away from you and you’re funding abortions or a news organization when you could be giving to your local church, buying a product you value or working harder for society so you can reap the rewards of your hard work.
When you are taxed to fund other organizations, remember they are taking your consumer’s power away. Within a free market society that is your power, the dollar, in which you earned, and the government thinks that it knows best on how to spend it for you.
So Yes, President Obama…those evil corporate jet owners and millionaires are not the cause of our governments dismal revenues or addictive spending problems.