Casualties in the War Against The Rich
We are at war…WITH OURSELVES!
Are we ready for the casualties this war will cause? So that Obama can get re-elected?
Obama calls for a repeal of the Bush era tax cuts, but only for the top two percent of income earners. These super-productive people need to have more of their income confiscated. They should be punished for their success. After all, they probably won’t even miss that money. It isn’t fair that they should be successful while so many good Americans are less so. Besides all that, we need to ensure equality of results and in doing so, deny equality of opportunity.
Unfortunately, these wonderfully liberal sounding lines have nothing to do with reality. Successful, productive people do not put their riches under a mattress. What ever money is not spent, hiring contractors, painters, plumbers, landscapers, gardeners, laundry services, diners out, theater tickets, and caterers, and the costs of life, they invest. Now they do not usually invest in opportunities so poorly researched that they lose all their money, or they would soon be out of money. In general, they invest carefully. If the idea is good and the organization is professional, it will attract money like moths to flame. The organization will grow, and people will be hired. Profits will ensue. Taxes will be paid.
Take away that investment, and the idea may die. Paying for the money that Obama wants for his unions, or for Solyndra, or to shore up his base will cause people way down the food chain to become jobless. They will be the victims of a war waged in their name.
More than that, Obama wants to increase the taxes paid on long term capital gains. This is exactly the kind of capital that start-ups are looking for. This is exactly the kind of money that pays for factories here in the US. This is exactly the dollars that are needed for hiring, and raises and training. Sure it’s important to look like you are fighting for the little guy, but the little guy is the person that this tax grab guns down. You see, if you starve your boss, he will not be able to keep you hired, paid or trained. Until recently, that has always been obvious.
Another part of Obama’s War Against the Rich, is the restricting of the deductions for charitable giving. It sounds great “Rich people need to pay their fair share.” But this particular payment will mean that soup kitchens all over America will close, and those dependent on them will fall asleep hungry. They will understand. Its a question of fairness. They will have to sacrifice so that Obama can direct some more pork towards a politician or a union that has pledged support.
Obama wants to choke off mortgage deductions. Yes, of course that will kill the real-estate market, and yes, more struggling families will watch their biggest investment go under water, but they should be willing to stand up and take the hit, become a casualty, so that Obama can get another four years.
Don’t get me wrong. It is not only the poor and middle class that are the victims of this war. As in all wars, there are victims on both sides. That rusty padlock on the place where you used to work, is a good indicator that the guy who ran it is not doing as well now. There are about a third less people earning a million a year now than there were in 2008 and about 40% less making more than $250,000. These are the people that create jobs, but they have become victims in this war. Now they are gone. Now they are not there to create the jobs that let the rest of us prosper.
If this sounds a little theoretical to some of you, look around. The blood and bones and bodies are laying all over the battlefield. Black teen unemployment is at fifty percent! Fifty percent? How do you get up in the morning if your future looks that bleak? Who is mentoring these teens? Where is their salvation?
Over all black male unemployment is 18%. Their long term unemployment is at historically high levels. Work skills deteriorate after time. These men now look in the mirror and all they can see is destitution. War is hell President Obama.
The war against the rich has already claimed victims in other ways as well. Minorities who were climbing the ladder just three years ago, have been completely knocked off that ladder now. According to a Pew Research Center study released in July, ” the inflation-adjusted median wealth among Hispanic households fell 66% from 2005 to 2009. Black households suffered a 53% drop in net worth over the same period. By contrast, whites saw a decline of 16% in household wealth.” This is a disaster. This is the German army at Stalingrad. It is decimation.
Prosperity is like water poured into a colander. The water has to go in faster than it leaks out. If you stop the water, the colander quickly empties. Obama’s failure to understand this basic economic reality, combined with his Napoleonic Narcissism, has become a general leading all of us to our Waterloo.