An excerpt from an article I just read...
I read all of the newspaper articles about President Obama’s new New Deal. The trouble is … we don’t need a second New Deal. The last one balanced us perfectly. What we now need instead is a solid dose of runaway entrepreneurism.
For example, let’s look at this $1.6 trillion dollar health plan. (You know, we throw the word trillion around like we used to do with the word billion. The only problem is that it takes one thousand billions to get to a trillion. And that’s one hell of a lot of money.)
To pay for this program, we are now talking about surtaxes (that’s taxes on taxes — and from what I read, these taxes will not be subject to deductions) on what Obama calls the “wealthy.” This is the same group that I call the “saviors.” It’s all a matter of perspective.
President Obama and his confederates in Congress see the “wealthy” as that class of people who drive fancy cars, live in big houses, and fly private jets to the Superbowl. But, I see this class of people as those who probably started very early in life with just a dream and then invested the vast majority of their lives in making that dream come true. These people generally worked 14 to 18 hours a day, seven days a week, 52 weeks a year, for three or four decades before they became “wealthy.” And all along, these people employed hundreds of others, paying their taxes as well as those of their employees.
Never having built a business (or a practice, for that matter), Obama and his confederates have no idea what entrepreneurial risk taking is all about. In my own career, I lost everything twice, including once after I had already acquired substantial assets. I was 35 years old, living in my car and hiding from every friend and relative I had. It damned near killed me, but I was somehow able to persevere. I don’t know that I could do it again.
At some point, taxes and surtaxes and fees and the like will cause the enterprising individual to do the brutal mathematics of abstention. So perhaps instead these highly-motivated people will find a land that rewards them for their risk-taking. Perhaps they will simply decide to “opt out,” figuring instead that the bounty of freebies offered by the government is preferable to simply working to provide others with those freebies.
And what will we realize anyway? An editorial in Saturday’s Wall Street Journal, regarding the radical new health plan in Massachusetts (designed and implemented by Republican Mitt Romney) says it all. Because the penalty for not participating is low enough to induce citizens of that state to “drop in/drop out” of the Romney health care program, Pilgrim/Harvard (the private enterprise company managing this Frankenstein program) is experiencing costs that are 600% higher than projected. And this is the model that Obama has frequently referenced for the national plan we are all about to swallow.
The plain and simple fact of the matter is that this country, perhaps more so than at any other point in its 250-year history, does not need a second “New Deal.” The first swung the pendulum just a bit too far to the left and subsequent administrations pretty much centered it perfectly. Now, it is about to take a rocketship ride to a point where our government is looking at a national debt of twenty percent. That’s right - one out of every five GDP dollars will go towards interest expense. Try running a business with that knee-halter.
And yet, we sit and watch our televisions and our sporting teams.
We’re in the worst Recession since the Depression and we’re raising taxes on the only potential saviors we have. It’s really that simple.
Wow.
full article at http://www.taeradio.com/newsletter-articles/2009/7/16/new-deal-deux.html#article_jump
I read all of the newspaper articles about President Obama’s new New Deal. The trouble is … we don’t need a second New Deal. The last one balanced us perfectly. What we now need instead is a solid dose of runaway entrepreneurism.
For example, let’s look at this $1.6 trillion dollar health plan. (You know, we throw the word trillion around like we used to do with the word billion. The only problem is that it takes one thousand billions to get to a trillion. And that’s one hell of a lot of money.)
To pay for this program, we are now talking about surtaxes (that’s taxes on taxes — and from what I read, these taxes will not be subject to deductions) on what Obama calls the “wealthy.” This is the same group that I call the “saviors.” It’s all a matter of perspective.
President Obama and his confederates in Congress see the “wealthy” as that class of people who drive fancy cars, live in big houses, and fly private jets to the Superbowl. But, I see this class of people as those who probably started very early in life with just a dream and then invested the vast majority of their lives in making that dream come true. These people generally worked 14 to 18 hours a day, seven days a week, 52 weeks a year, for three or four decades before they became “wealthy.” And all along, these people employed hundreds of others, paying their taxes as well as those of their employees.
Never having built a business (or a practice, for that matter), Obama and his confederates have no idea what entrepreneurial risk taking is all about. In my own career, I lost everything twice, including once after I had already acquired substantial assets. I was 35 years old, living in my car and hiding from every friend and relative I had. It damned near killed me, but I was somehow able to persevere. I don’t know that I could do it again.
At some point, taxes and surtaxes and fees and the like will cause the enterprising individual to do the brutal mathematics of abstention. So perhaps instead these highly-motivated people will find a land that rewards them for their risk-taking. Perhaps they will simply decide to “opt out,” figuring instead that the bounty of freebies offered by the government is preferable to simply working to provide others with those freebies.
And what will we realize anyway? An editorial in Saturday’s Wall Street Journal, regarding the radical new health plan in Massachusetts (designed and implemented by Republican Mitt Romney) says it all. Because the penalty for not participating is low enough to induce citizens of that state to “drop in/drop out” of the Romney health care program, Pilgrim/Harvard (the private enterprise company managing this Frankenstein program) is experiencing costs that are 600% higher than projected. And this is the model that Obama has frequently referenced for the national plan we are all about to swallow.
The plain and simple fact of the matter is that this country, perhaps more so than at any other point in its 250-year history, does not need a second “New Deal.” The first swung the pendulum just a bit too far to the left and subsequent administrations pretty much centered it perfectly. Now, it is about to take a rocketship ride to a point where our government is looking at a national debt of twenty percent. That’s right - one out of every five GDP dollars will go towards interest expense. Try running a business with that knee-halter.
And yet, we sit and watch our televisions and our sporting teams.
We’re in the worst Recession since the Depression and we’re raising taxes on the only potential saviors we have. It’s really that simple.
Wow.
full article at http://www.taeradio.com/newsletter-articles/2009/7/16/new-deal-deux.html#article_jump
