Re: The Summer of Our Discontent

That's what I thought, it's all about class envy with you.

I admit there are times when I myself have wealth envy, but then my logical half fights that thought: I know that in order to get a job in the private sector, there needs to be employers.

Big business works by rewarding success and providing incentive. It works.

Small business people take the biggest risks. They must declare their businesses income on their personal income tax return, because otherwise the tax rates would be even higher. That's a fault in the tax system.

The result is that to the rest of us, small business entrepreneurs look as if they are the 'rich' when in reality their declared income does not translate to wealth that they personally can keep. They must reinvest almost every last dime into the business to keep it going and to expand.

When we all fall for class envy, we end up hurting ourselves, because there will be fewer jobs in the long run when we punish those that earn much more.

Google 'laffer curve' for an understanding of what tax rate should be the best.

It is not a linear relationship. In fact, as it is today, if we keep the bush tax  cuts intact from 8 years ago into 2011, the federal government will actually reap more revenue. It's a win win situation.

On the other hand, if the Democrats let those taxes increase: YES: it is an tax increase, then the economy will suffer even further.

And when we punish the rich, we also punish ourselves.

On Wed, Aug 11, 2010 at 5:56 PM, you wrote:

I'm real happy.  Tax those over paid people who have been bleeding us all to death the past ten years with Bush tax cuts.  It's time they got cheated of at least one slice of the pie and put the tax cuts in the hands of the common people who will spend it and not be as dependent on the government.  Obama doesn't like big government either.

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You two should be blissfully happy, right?

After all, Obama been so incredibly successful in transforming the country into the Socialist Utopia that you and the rest of Obama's supporters all dream about. Unfortunately for him, his supporters have been dwindling in numbers. But not before the damage to the economy has been kept up for almost 2 years now, including the campaign, which did it's damage simply because employers could see the writing on the wall.

And now with the pending tax increases, Obama plays golf and smiles away, knowing he will be keeping people down, and dependent on government, which is his goal. Hey, they passed another $26 Billion dollar stimulus just last night, and ALL of that money goes to the already overpaid government workers of the States, their unions and their benefits and pensions, not the the real workers in the private sector who have to get by on less and less every day.

Hope you are happy. No matter who caused all this mess, Obama is certainly making it worse.

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The "summer of recovery" should be renamed "the summer of our discontent" because it seems like almost nobody is happy. As hard as the Obama team has tried to convince everyone that everything is going swimmingly, the sad reality keeps rearing its ugly head:

You know you're in the summer of recovery when both the Wall Street Journal runs editorials titled "It isn't working" and "Why I'm not hiring" and the New York Time's front page story is "U.S. Lost 131,000 Jobs as Governments Cut Back".  Listening to the White House and then analyzing economic data is like participating in an episode of the Twilight Zone.