Hi again, I hope all is going well with you.
I'm asking a question to everyone and that is: Are Americans becoming afraid of success? The reason I ask is because of all the class warfare that is going on in the media and government. If you are successful and you do something like buy a dream home, car, or anything else you are blasted by many and it doesn't matter how much you do give to charity If you are successful and rich you are bad in this society and liberals want to boycott you because you want to make sure your business survives. (Papa John's and Applebee's story on my last blog) Why is that?
At the start of American history we encouraged success, investment, invention, etc.. There was some class warfare but all in all there was a lot of growth and success going on. The rich ones back then are on a history channel series called "The Men Who Built America" the title isn't the bad rich guys.
Imagine if you will: you have a great idea and you market it and become really successful. However, as you start making a lot of money you invest more and more into your business then oh no your one of those rich people everyone hates and wants to tax to death. Now does that really encourage you to do your best? The taxes that the Obama administration want to impose on you make it so, you can no longer invest as much as you want into your company. To avoid some of these high taxes you put your money that you would use for investment in no taxable bonds. Therefore little or no increase in hiring which because your not the only business owner out there equals higher unemployment, more Americans on the welfare system, and a deficit so high even China won't want to lend to us.
Now we need to work together to fix these problems. If we fall of the fiscal cliff things will be much worse than if we were to get along and compromise a solution. Higher taxes on the wealthy doesn't increase tax revenue. I am not talking about trickle down that the media has promoted as being how that works. How it works is if the wealthy are not taxed to death they spend more in research and development, investments in capital, which means more highers. If there is more workers needed eventually the unemployment will go down enough to where wage rates rise due to simple supply and demand. Besides a percent is a percent. If I have 10,000 a year and pay say 10% in taxes that would be $100, if I have $1,000,000 and pay the same 10% it would be $100,000. I am not saying we need to necessary get rid of tax deductions though. Those help the poor to survive. I don't know how I would try to make ends meet without them.
All in all we need to increase investment and invention in this country. Let me know what you think.
Thank you and have a wonderful day!!!!