Monday, September 19, 2011

Create a Job - Hire an Economist

“Stupid is, as stupid does.” – Forest Gump.

Create a Job – Hire an Economist
Commentary by Sanford D. Horn
September 19, 2011

One of the first jobs Barack Obama can create is to hire a personal unemployed economist. He still doesn’t get it. Obama spent another 20 minute campaign speech from the Rose Garden at the White House haranguing the American people to “pay their fair share.” Did he ever study economics?

The more Obama wants to punish millionaires and billionaires for their success, the more likely this economic quagmire will only worsen, but at a faster pace.

Who are the job creators, Mr. Obama – the rich or the poor? Who are those in need of jobs typically – the rich or the poor? I would hope those are rhetorical questions for him, but I suspect he may need some serious tutoring in the subject at hand.

When the job creators are penalized for their success, they tend to create fewer jobs. When fewer jobs are created, there are more people in need of said jobs. When more people are out of work, they tend to rely upon the largesse of government for survival. Where does government get their money, Mr. Obama? From the rank and file who pay taxes. Out of work people don’t pay taxes. Working people pay taxes.

Raising taxes by a trillion and a half dollars will not increase the federal coffers. Those charged with paying those tax increases will hire fewer people, who in turn will spend less, which in turn, will cause a drop in production, which in turn will find more people being laid off, out of work and dependent upon government, which in turn will lose money paying people’s welfare and food stamps all the while bringing in less and less revenue.

Obama claims this is not class warfare, but instead, just math. It absolutely IS class warfare, which, when it fails to pass in the GOP-lead House of Representatives, Obama will further wage his campaign attack against the Republicans by continuing to divide the American people.

Most of the American people are intelligent enough to know the people with the money create the jobs. Eventually, when the people with less money work hard enough and diligently enough, they amass the money necessary to go out on their own and they in turn create jobs. That’s something called capitalism, something Obama seems hell bent on destroying. (Make no mistake, there are those people who want the capitalist system to fail in order to bring the rich down to their level and for government to take care of everyone womb to tomb and cradle to grave. Those folks are certainly not capitalists.)

And special note to the alleged Oracle of Omaha Warren Buffet, who is about to become the namesake of the new trillion and a half dollar tax imposed upon us by Obama (although it will never pass the House), if you want to pay more taxes, go right ahead. First, pay your back taxes, you hypocrite, then feel free to write Uncle Sam a big fat check for as much as your cold heart desires.

Buffet made the absurd comparison that people paying more taxes is the same as them making their charitable contributions. On August 14, Buffet said that people who donate to philanthropies would naturally be willing to pay more in taxes. In what world is that a logical leap? Taxes are imposed upon the taxpayer, while charitable contributions are made voluntarily to the organization(s) of our choice. In fact, most people would rather decide where their money should go and if they could, determine how their tax dollars are disbursed.

For that matter, deductibility of charitable contributions are also on Obama’s radar screen and on the chopping block for those earning greater than $200,000 per year. Those are probably the biggest donors. Obama is also seeking to close the door on mortgage interest deductions as well on those same higher income earners. That eliminates a chief incentive some people have in purchasing a home and will no doubt negatively impact the housing market more that it has already been affected by this sluggish economy in the first place.

Additionally, under Obama’s new taxing scheme, Buffet had better be prepared to pony up more, whether he wants to or not, as capital gains will be levied at a higher rate, which in turn will give investors cause for pause regarding their desire to take those risks with their own capital.

With plans like these, Obama is either the dumbest so-called leader for continuing to cause the economy to wane, or he really is the Manchurian candidate come to life to destroy the American way of life and the capitalist system under which we have lived freely since the days of colonization.

Sanford D. Horn is a writer and educator living in Westfield, IN.

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