The Practical Philosopher's Blog

Using the practical application of timeless wisdom to address modern issues

Taxcuts and the ‘Rich’

The President wants to raise taxes on those who make more than $250K while continuing our less-than-stellar tax levels for the few others of us under that figure that actually pay taxes.

This is another reason why we will never see any significant new job growth for as long as Obama and collectivists of his mentality continue to advance these broken economic ideas.

This economy is squarely depressed because of this Administration’s policies- not Bush or any other scapegoat. The market is rationally assessing Obama’s anti-business outlook and burdensome/costly future policy statements (Expire Bush tax cuts, Cap and Tax, Negative ObamaCare impacts coming up, Green ‘jobs’ focus, etc.) as toxic to taking any business risk or investing for growth. And why wouldn’t they? Where’s the upside? There is none. All of this Administration’s tone is how anyone making more than the poverty level should be ashamed of their success and get ready to hand over significantly more of their hard-earned profits to Big Government. Temporary, tepid tax measures will not motivate job growth. Higher taxes will not motivate job growth. Temporary, minute infusions of cash for disproven Keynesian ‘growth’ theories (also called history) will not motivate job growth.

Now on to the term the ‘Rich’. How long will politicians in our country try to push this resentful and Feudal term? Everyone in this country should be unashamed to say they want to be ‘rich’. America is the land of opportunity for those that want to work for it. No one here is born into some aristocratic class and the rest of us are stuck being peasants. The real meaning of the term ‘Rich’ class is the Productive class, the Investor class, or the Job Creation class. Where does Obama think the jobs come from? The very people he demonizes!

Just in case people are not aware of it, the top 1% of Americans pay 40% of our taxes already- a patently unfair share as it stands now. The top 10% pay 70% of our total taxes! And he thinks they need a tax hike?! This is unbelievable!

Democrats in Congress have just made an announcement that they are running away from/avoiding this issue like everything else unpopular they want to do because an election is coming up. If it’s not okay now, it’s not okay 6 months from now! This will still be hanging out there and the Investor class will still be sitting on cash (and therefore job creation) because of it.

Send a message this November! Vote!

Filed under: Business, Politics, , , , , , ,

Where’s the President’s Support for America?

Scenario 1: An Islamic project that is legal, but socially insensitive to Americans
An Islamic mosque is proposed to be built nearly on top of ground zero of the Islamic terrorist attack of September 11, 2001. An attack that killed more Americans in a single incident than any other point since World War 2. A large percentage of Americans both locally and nationally are upset and against the proposed 13 story building. They see it as a slap in the face to the victims and other see it as a propaganda symbol for Islamic extremists and terrorists globally.

As the conversation progresses, it is clarified that it is not a question of legality, but of one of prudence and social sensitivity.

The President dances around the topic making a statement about the legality, but he literally says “…I was not commenting and I will not comment on the wisdom of making the decision to put a mosque there [Ground Zero].”

Scenario 2: An American event that is legal, but socially insensitive to worshipers of Islam
A nobody preacher goes public saying that he’s going to burn Korans. When ever a perceived slight of this religion arises from the West, riots and death threats are issued from Islamic groups all over the world. This could also increase violence in areas with Islamic influence where our troops are deployed.

It is not a question of legality but one of prudence and social sensitivity.

This time, the President and his appointed representatives fall all over themselves to make statements pleading for tolerance (social/cultural sensitivity) by this pastor and Americans against the burning of Korans.

Summary
Our President is an utter failure on this issue as a leader of America and Americans. He can immediately issue statements recognizing the social insensitivities for foreigners in the Middle East, but just cannot bring himself to the same statements supporting his own people!

It’s like he’s a leader for the Middle East not America. It’s like he’s a supporter of Islam and not Christianity. Bottomline: it’s like he’s anti-American, which is mind boggling to consider in the office of the President of the United States.

We need to stand up and show our outrage at this abandonment of leadership and America come this November to this President and those in Congress that support this anti-American worldview.

Filed under: Culture, Middle East, Politics, Religion, , , , , , , ,

Obama Still Has No Idea How Our Economy Works

Leaving aside an 11th hour ‘conversion’ by Obama to seeing the value of (some) tax cuts, the cuts he does propose are targeted, temporary, and will primarily only benefit big business.

This ploy to pretend he is suddenly for business will not affect the largest component of our economy- small business owners.

If we convert the ‘Bush tax cuts’ into the ‘Obama tax hikes’ on top of this, things will get even worse. Small business owners tend to file taxes as individuals. They may make $500K in revenue/income, but if you plow $450K of that back into business expenses and taxes, the actual $50K you might use to live on is not much.

The bad news is that their income falls into the hate-the-rich category that Obama uses as examples of morally bad guys that owe money to his unskilled, unproductive, and/or un-ambitious core-constituency.

The punishment of small business owners will be in the form of increased taxes for govt welfare, subsidies and general, short-term vote buying. They will still have no long term (critical!) incentive or confidence they can, or should, risk their money to expand their businesses. The only long term-anything that Obama and his like-minded Democrats will accomplish is long term damage to our economy and founding principles with their collectivism.

Note to the Prez: 70% of our jobs come from SMALL businesses! So how will this current ‘tax cut’ ploy and higher taxes in Jan2011 create jobs? They won’t. Again.

And we’ll continue to suffer economically as a country for their lack of wisdom and leadership on this issue.

Somebody in White House should tell the President: It’s the results, stupid- not the rhetoric.

Filed under: Economy, Politics, , , , , , , ,

More Proof Why Government Can’t Run Businesses

Once again, it’s painfully evident to everyone except the Obama administration that the realities of politics and the realities of running a business are completely different and virtually always are. 

The motivators of politicians (vs. leaders) are votes, public perception, and the pursuit of power. The motivator of businesses is profit from the sale of their goods and/or services to the marketplace.  The restructuring of a rigid, non-responsive and failing company so it can more efficiently serve it’s market is critical if that company wants to survive. So, it was amazing to read:

GM proposed moving out if it’s Detroit’s Renaissance Center HQ to its sprawling suburban tech center, arguing that the move would save money and would symbolize a commitment by top brass to be more involved in the company.

But this would involve some creative destruction in the marketplace to create a sustainable, long-term outcome of a viable company instead of a dying one. This, however, was not a consideration at all to the politicians in the white house:

But the “hands-off” White House snuffed the idea, opting to protect Detroit — a key political constituency of the Democratic Party. “Are you out of your mind?” Rattner quoted Brian Deese, who has been heavily involved in auto policy, as saying. “Think what it would do to Detroit.”

This is why Govt can’t and should not try to run businesses or be an actor in the market place. This is why, if GM ever recovers, it will take much longer than it would have in a free-market situation.

And the White House wonder’s why they have not been successful in creating jobs?

Filed under: Business, Economy, Politics, , , , , , ,

September 2010
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