barack obama, in a calculated, targeted attack against Republican rival Mitt Romney, attempted to dismiss Romney’s key rationale for his presidential candidacy by saying: “When you’re president, as opposed to the head of a private equity firm, then your job is not simply to maximize profits. Your job is to figure out how everybody in the country has a fair shot.”
Obviously, obama’s unfamiliar with the concept that jobs are downstream from profits, not the other way around. With the exception of the original staff, which is hired to launch a company via start up capital (notice that here too, capital comes before hiring), businesses hire more workers after they’ve made profits. Being profitable gives them the capital needed to pay for expansion, which then creates the need to hire additional employees. This is especially true of small businesses, many of which are decidedly not over funded with liquid capital.
According to “progressives”, the rich are somehow preventing the middle class from having a fair shot because the rich are depriving the middle class by not paying “their fair share” of taxes. As with other “progressives”, obama’s concept of the middle class having a fair shot is to steal money from those who’ve earned it through initiative, hard work, risk and sacrifice within the free market capitalist system. obama seeks to acquire capital from productive Americans through “progressive” taxation and use that capital, acquired through legal extortion, to hire unionized government workers. Workers who will not only be paid more than their counterparts doing exactly the same job in the private sector, but will have Cadillac healthcare and pension benefits provided to them by a taxpayer funded job from which they will probably never be fired.
Still wonder why “progressives” love those unions?
Such an arrangement is perfectly suited to “progressives” like obama, a major proponent of centrally planned big government. Workers dependent upon government for their livelihood are much more likely to re-elect proponents of big government. They’re also much more likely to be unconcerned with how much the rich are taxed, since the taxes of unionized government workers won’t be affected. Their big government big brothers will see to that. That is, if they’re even required to pay taxes.
Of course, the “they don’t pay their fair share” rhetoric is a complete sham. It’s a mere straw-man argument. On second thought…a sham? It’s a straw-man argument? No, truth be known, the “they don’t pay their fair share” rhetoric is a bold faced lie. The top 10% earners in America pay 70% of the income taxes while 47% of Americans pay zero income tax. They pay nothing.
How much tax on the rich would be enough? How much does obama’s plan need for the middle class to have “a fair shot”? The 100% rate barrack obama sr. sought to impose on Kenya’s rich after he seized power?
Can you say wealth redistribution dreams from my Marxist father?
This clearly demonstrates how clueless obama is about the way America was designed by its Founding Fathers. Having a fair shot in America has never been about big government stealing from the rich in order to finance the hiring of government workers. Having a fair shot has always been about a Constitutionally limited government not interfering with the private sector free market’s ability to afford equal opportunity to everyone, regardless of their starting point in life. In America, big government’s job is not to “take care of us”. In America, big government can never replace initiative, creativity, hard work, sacrifice, risk, and reward by free, private Citizens working to provide for their own needs within the private sector. If it ever does, America will have ceased to exist.
Instead of digging the United States into an ever-deepening hole by reducing available free market capital through higher taxes, how about creating some certainty for investors by making permanent changes to America’s needlessly complicated tax code? How about creating a simplified tax code that provides incentives for investment? How about creating a tax code that’s doesn’t punish small businesses by forcing them to divert scarce capital to pay the cost of hiring accountants and attorneys to decipher an ever “evolving” tax code each year? How about creating an economic environment where the rich, middle class and poor alike all feel it’s worth the risk to invest in a start up business? Thanks to existing, unnecessarily high “progressive” tax rates and expanding, needlessly expensive regulatory oppression, today starting up a new business is practically impossible.
Better still, how about obama going back to school to learn what America is really all about? In the meantime, he should leave running America to Americans. obama’s had his fair shot.Subscribe to our Morning Briefing and get the news delivered to your inbox before breakfast!