Posted by
darrel on Sunday, October 26, 2008 3:42:36 PM
How long will it be before we are all poor?
How many of you out there have a job? Most all of you I would guess would answer, “I do”. Now, how many of you are employed by someone who is in your same tax bracket? I would guess that the answer is damn few if any.
Anybody who has worked his butt off to build a business, not only profits himself, but also along the way manages to employ some number of people who are less inclined to take the gamble that his or her employer took. Many, if not most, small businesses fail on their first attempt, but persevering entrepreneurs try and try again to reach their dream of being independent and self-supporting. The side effect of helping others make a living is just icing on the cake.
Now enter Barack Obama, who wants to increase the taxes on the five percent of the people in this country who are those employers, and cut the taxes of those who are on the bottom most rung of the ladder, who in fact, now pay no taxes at all. Cutting taxes for someone who pays no taxes amounts to redistribution of wealth; money taken from those who do earn and given to those who do not earn it.
America has historically been the most generous nation in the world; giving needed funding to all who truly needed it. Most of this help has been of the voluntary variety; Americans give more to charity than any other nation. It has always been the individual who has taken care of his neighbor in need, not the government. Government’s only source of income is its citizens. Unless governments take from the people they have no other source of income. Unlike the top five percent of taxpayers who manufacture products or provide services, government does nothing to provide benefit to their constituents, without first taking from them. Even then, the benefits are questionable.
With the economy about to go into the tank, I may soon find myself in the position of having to look for a job, being currently retired and living on a fixed income that has a shaky future. When and if I enter into the job market, I will most likely be seeking employment from somebody who is in that top five percent bracket, or at least from one of the corporations that are. I can only hope that if the tax rate on these businesses is increased, that at least some of them will remain in this country, and that I might be fortunate enough to be among their employees.
If as I suspect, the increase in taxes and other operating costs drive the remaining big businesses out of the country, Mr. Obama will have to be asking himself, “Where am I going to get the money to fund my plan? I guess I will have to increase the taxes on the middle class now.”