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Sunday, March 8, 2009

Class Warfare will get us nowhere

Ever been on an enemies’ list? Well, if you make more than $250,000/year you are now. Instead of targeting terrorists to keep our country safe, our President is targeting those lucky Americans who worked hard and succeeded in life using a well known idea called CAPITALISM.

In the President’s words, these lucky Americans are guilty of being “special interests” and “lobbyists.” Bush’s tax cuts were “an excuse to transfer wealth to the wealthy” and that he would bring to his administration “fairness” by raising taxes on “the wealthiest 2% of Americans.” (Fairness Mr. President, let’s try replacing the current tax code with the fair tax).

The president has even gone as far as to say that he must expand government “to keep the private sector honest.” Government and honesty just don’t go together in my book. As the late Ronald Reagan put it “Government isn’t the solution to the problem, government is the problem”. Words to live by...

Even Wall Street is worried about this new president and his hatred for capitalism. The stock market has reached new lows not seen since 1997 and since Obama’s Inauguration Day, the dow had dropped 20%. Despite his claim that only the wealthy play the stock market, an estimated 55 million households hold mutual funds and stocks, making them “collateral” damage of his new war.

Instead of becoming friends with Wall Street (like his predecessors) he would rather anger them by denouncing them and then raise their taxes. What he doesn’t realize is that he will also affect the millions of small business owners who produce most the jobs and raising taxes will eventually trickle down to the “middle class” in the forms of higher prices for products and services.

Obama recently gave a speech to the Business Roundtable and actually said “I am a strong believer in the ability of the free market to generate wealth and prosperity that’s shared across the board." What?? Shared wealth? Let's call it what is it - Socialism.

Taxes should never be raised during times of economic downturns but the administration is trying to convince these “wealthy” Americans that by the time their taxes go up the recessions will be over. Like that’s supposed to help.

Well I’ve got news for you Mr. President, those 2% of Americans making $250,000/year or more are, according to ABC News looking for ways to cut their income. Why work hard only to make more only to have it transferred to those that don't. Charities, who are already seeing decreases in contributions, will also be hurt more by the new tax law that cuts deductions for charitable donates for these same 2%.

So it appears our first victims under this new administration’s tax hike will be the small business owners/entrepreneurs, doctors and lawyers, charities and eventually it WILL hit the middle class.

Now that’s change we can believe in. Thanks, but no thanks, I’ll keep my change in my own piggy bank.

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