"I think when you spread the wealth around, it's good for everybody."
This is what Obama's economic plan boils down to. He wants to tax the "rich" to feed the "poor." Very nice sounding in theory - very socialist in reality. What ever happened to the American dream where anyone can become rich? Under the Obama Plan it would be all but impossible for new people to enter the realm of the "rich" (keep in mind that according to Obama $250,000 of income a year qualifies one as rich) when their taxes are increased the closer they get to that landmark. Essentially, what will happen is that as one works harder to earn that higher income they will be slapped with increasing taxes thus discouraging their continued efforts to break out of poverty (lower than $250,000). The socialist model doesn't work because it discourages economic growth. In this difficult economic period, the last the our country needs is another barrier to growth.
We don't need to increase taxes on Joe the Plumber in order to strengthen our economy and society, we need to make it easier for him to work so that he can buy his company, employ more workers, and eventually enable those workers to buy their own companies, thus continuing a cycle of economic growth.
This is what Obama's economic plan boils down to. He wants to tax the "rich" to feed the "poor." Very nice sounding in theory - very socialist in reality. What ever happened to the American dream where anyone can become rich? Under the Obama Plan it would be all but impossible for new people to enter the realm of the "rich" (keep in mind that according to Obama $250,000 of income a year qualifies one as rich) when their taxes are increased the closer they get to that landmark. Essentially, what will happen is that as one works harder to earn that higher income they will be slapped with increasing taxes thus discouraging their continued efforts to break out of poverty (lower than $250,000). The socialist model doesn't work because it discourages economic growth. In this difficult economic period, the last the our country needs is another barrier to growth.
We don't need to increase taxes on Joe the Plumber in order to strengthen our economy and society, we need to make it easier for him to work so that he can buy his company, employ more workers, and eventually enable those workers to buy their own companies, thus continuing a cycle of economic growth.
0 comments:
Post a Comment