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Millionaires and Billionaires
· Tuesday, July 12, 2011
"Nothing succeeds like success" -- Alexandre Dumas, 1802-1870
If new millionaires or billionaires were created every time President Obama and his fellow liberals disparage "millionaires and billionaires," there would be far more of them than there are today. And that would be a good thing because it would mean more people are succeeding.
This president, more than any other in my lifetime, seems determined to punish and discourage success and the hard work, risk-taking and values by which one must live in order to attain it. He blasts people who fly on private planes, though he flies on Air Force One, the ultimate private plane, which taxpayers pay for. He doesn't like yachts, or specifically the people who can afford to buy them. And yet the people who make the private planes and yachts have jobs precisely because others have achieved a level of success that enables them to afford such luxury.
Recall during the George H.W. Bush administration when congressional Democrats persuaded Bush to sign a bill increasing the luxury tax on yachts in exchange for a promise -- later broken -- to reduce spending. The result was fewer people bought yachts, boat builders were laid off and Congress later repealed the tax hike. Don't liberal Democrats ever learn economic principles, or does their class warfare trump all else?
People who envy the successful won't receive any of the money higher taxes might bring in. Congress will spend it long before it "trickles down" to the poor and even if the poor did get some of the largesse from the wealthy, when the money runs out they would likely remain poor because their attitude toward "entitlements," rather than wealth building would remain unchanged. Isn't that the story of the failed welfare system? Welfare mostly subsidizes people in poverty, helping few escape from it.
In their hearts, most people who are poor would like to be rich, or at least self-sustaining, but this president never talks about how they might achieve that goal. Instead, he criticizes those who made the right choices and now enjoy the fruits of their labor. Rather than use successful people as examples for the poor to follow, the president seeks to punish the rich with higher taxes and more regulations on their businesses.
President Calvin Coolidge, who is receiving another look by some historians, said in 1919, "The great aim of our government is to protect the weak, to aid them to become strong." See the difference? President Obama apparently thinks the weak and poor can never become strong and rich without government, though government has a poor track record of aiding people in either endeavor.
Another Coolidgeism: "Don't expect to build up the weak by pulling down the strong."
Pulling down the strong seems to preoccupy this administration and congressional Democrats. Is that unfair? Where, then, can one find a champion of achievement, risk-taking and capitalism among the Democratic leadership? Many of them are rich; they just don't want too many of the rest of us to become rich. If we do, we might not need government, or them. And we might just vote Republican.
There is something deeply repulsive, even un-American, about this war on achievers. We once held them in higher regard because they built and sustained the nation. What do the unsuccessful produce?
Wealth is a sign of achievement, a reward for risks taken. And being poor is not a crime, unless those in poverty refuse to strive to overcome it.
That's the message this president should be broadcasting, not one that trashes success and promotes class division and envy of the successful.
(c) 2011 TRIBUNE MEDIA SERVICES, INC.
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Brian
" Don't liberal Democrats ever learn economic principles,..." No, no they don't.
"... or does their class warfare trump all else?" Yes, yes it does.
Posted July 12, 2011 at 10:52:35 AM
Richard Ryan
Since Communism means everything to most Democrats, class warfare is the ultimate weapon used to achieve their goal.They have managed to get a Communist thug in the White House.
Richard Ryan
Lamar,Missouri - Birthplace of Harry S Truman
Posted July 12, 2011 at 11:35:34 AM
RudyT
It seems to me that we're all living in a live-action "Atlas Shrugged".
Posted July 12, 2011 at 12:41:52 PM
Fed Up
Envy, want, and admiration are human nature.
But from two very diverse ideologies, it looks totally different:
Socialist/Liberals - Everyone else wants, and demands, what the haves got; so they take from the haves and give it to the wants.
Conservative/Constitutionalists - Everyone admires what the haves got, and endeavors to reward themselves by working and laboring to become a have.
The latter form use to be prevalent in an "America Dream;" but in the last 40 years or so, the former has overwhelmed the American psyche.
"I want it, so I am going to take it!"
Posted July 12, 2011 at 12:49:16 PM
Frank E.
07/12/11
OBAMA is much more than a CUMMUNIST Thug.He is a
covert ARROGANT TERRORIST whose goal is to
DESTROY AMERICA.He told us in his beginning he was
going to change AMERICA,For misinterpreting his
message we are about to lose the America,The GIFT
our FATHERS GAVE US.
Posted July 12, 2011 at 12:52:56 PM
Abu Nudnik
http://www.metacafe.com/watch/5209917/alan_price_poor_people_o_lucky_man_video_1973/
Posted July 12, 2011 at 2:42:47 PM
Gadfly For Justice
I love to read this blog! It shows me how idiocy is alive and well, especially in the ranks of the conservative elite and the teabaggers.
I don't think Barack Obama or anyone else is saying that citizens shouldn't be rewarded for their hard work. What he's saying is that there should be a shared sacrifice and responsibility to take care of our fellow citizens in a Federal Republic like ours that has a strong tradition of taking care of its citizens.
For your information, the top 400 wealthiest Americans own as much as the bottom 150,000,000. Now, some may think this disparity is good for their pockets now, but I wonder who those 400 people are going to sell to as the gap grows wider and the middle-class is eliminated entirely. Maybe the Chinese, Greeks, or Pakistanis?
I love how people use the stale and bogus argument of "making yachts and G6 airplanes provide jobs to the American people." That's kind of like saying that making the tomb Pyramids of Giza provided jobs to the slaves by the Pharaohs. That's totally asinine! What's wrong with jobs that contribute to the entire welfare of society, not just the oligarchs?
Moreover, it's great to hear how conservatives view money as if their faces were printed upon the $100 bill. The last time I looked, the U.S. currency printed has the brand of "The United States of America"..not Cal Thomas or any of the rest of you imbeciles. What that means is that the U.S. Government has essentially sanctioned currency for use by its citizens. The U.S. Mint prints it, and the U.S. Treasury manages it. Therefore, if the federal government needs to adjust policy to make the balance of economy more equitable for all of its citizens then that's what it should do. It's not all about "millionaires and billionaires" as some as you guys would like to believe. It's about the solvency of all Americans (of which you guys could give a crap about)! It's about having a successful monetary policy and tax code so that ALL Americans have a good life.
Unfortunately, I don't have the time to explain why we have a graduated tax code vs a flat tax to the economically unsavvy, but it would behoove you to go get a book on the fundamentals of a society, and one on macro-economics and read them both! Even Warren Buffet understands that the extremely wealthy need to bare a little more of the social burden. Even he knows that having a vibrant and robust middle class helps the wealthy. You guys should follow his lead and get a clue.
Yes, working hard and smart should yield great rewards. And some in our society will have more, and some will not have as much. But working hard and smart doesn't mean raping your fellow citizens. I was once told by a business mentor of mine that "there are a lot of ways to make money. You should pick one that is honorable, noble, and serves your community well." Being a billionaire in this economy, regardless of how you got it and how many people you've employed, does not necessarily serve the country well.
Posted July 12, 2011 at 2:52:11 PM
TLundy
The title of your essay would indicate that the administration only intends to skim a little off the top of the said class of people. However, the tax implications will affect those making $250K or more. As a recent member at the low end of this proposed revised income level due to much hard work and education levels attained by myself and my wife, I can attest that my wife and I are NOT millionaires. We do make a comfortable living, we did give 10% to charitable organizations and we did pay more in taxes than a majority of Americans could dream to make in a year, but I wholeheartedly disagree with what evidently the administration defines as a MILLIONAIRE. If you say you want to tax millionaires, then don't say it out of the corner of your mouth. I do agree with you that the US is becoming increasingly hostile to the achievers. Soon there will be no incentive to earn more when any incremental increase will be taken away and given to the societal leeches. People talk about this like it is a battle between the haves and the have-nots, but really everyone is a have, they just need to realize it and find satisfaction in it.
Posted July 12, 2011 at 3:57:07 PM
Fed Up
"Boehner said Obama initially expressed a willingness to reform all three entitlement programs in exchange for "a list of tax increases." Fox News.Com
The Liberal/Socislists never seen a tax increase they didn't like.
This is the wisdom of American Democrats. Raise and raise taxes on the working men and women and families, especially when they are struggling as it is.
Eventually they will reach their goal of having all American's equal. That is, equally poor and dependent on Mother America.
It is just a matter of time now.
Posted July 12, 2011 at 4:48:58 PM
KN
"fewer people bought yachts," or they bought the yachts and parked them in Rhode Island to avoid state taxes in Massachusetts.
Posted July 12, 2011 at 4:52:59 PM
Tom
To G for J: You are a typical moronic idealists. You obviously are at the public trough,trying to figure what your worth is(or worthless is). I can see you have never done a real days job, but think you have all the answers. You are so far left and you will answerwith some trivial BS.
Posted July 12, 2011 at 5:11:59 PM
Brian
Gadfly for Justice: you sir, are obviously a liberal wag. Or an idiot. But I repeat myself. Let me lay a little reality on you: When the graduated tax rate goes UP, the wealthy HIDE their money, thereby paying LESS tax. If you take away the tax shelters they use now, they will simply move their money out of the country. The disparity between "rich" and "poor" is not what is destroying the middle class, it is the Democrats ideology. When the rich move their money out of the country or into tax shelters, the middle class bears the greater tax burden. Oh, and by the way, my picure may not be printed on the $100 bill, but it is most definitely MY money. I earned it, therefore, I should be allowed to keep it to spend as I see fit. If I choose to give 25% of my pay to those less fortunate, that is my business and my choice. For the government to garnishee my wages to give to those less fortunate, a large percentage of which are simply to lazy to get off their a$$es and get a job, is nothing less than theft. The value of any nations currency is based on the goods and services of that country. THAT is work that benefits society. You can't just print money like it's going out of style and expect it to be worth anything. And lastly, perhaps it is YOU who should do a little outside reading, starting with the Communist Manifesto, and see if you notice any parallels to our current situation. And maybe a book on economics, as long as it's not written by a Keneysian wonk. Or just research "free market economy". Check the history section for that, we haven't seen its like around here since FDR was president.
Posted July 12, 2011 at 5:15:57 PM
Fed Up
Re: Gadfly for Justice,
Here we go again, another Socialist-Liberal-know-it-all-name-caller-because-he-cannot-intelligently-get his-point-across-otherwise loser.
"Unfortunately, I don't have the time to explain why we have a graduated tax code vs a flat tax to the economically unsavvy, but it would behoove you to go get a book on the fundamentals of a society, and one on macro-economics and read them both." Gadfly Mole
Did you all hear what the phenomena, wholly educated, intelligencia just scolded us about; with his condescending, know it all, parental tone, I know what’s best for the kids, character? He DOESN'T HAVE THE TIME for us backwoods, uneducated, myopic, greedy Conservatives dimwits.
Isn't that just the same old, stinky crap from Liberals like the Horse-manure fly’s? They talk to everyone else like they are children, because to disagree with them, makes one unworthy of elucidation in fabricated present-day, liberal enlightenments.
Geez, there are so many of these dolts these days. It doesn’t say much for the future of this once great country.
Posted July 12, 2011 at 5:20:18 PM
M Rick Timms, MD
Gadfly,
You are so misquided that I can only surmise that you are a young leftist idealogue working at a government job, with a salary paid for by the taxes confiscated from real American workers, such as those at GulfStream Aerospace. Those American workers build, service and maintain products that are recognized around the world for quality, craftsmanship and performance. Your Hero does not miss an opportunity to slap down this American company, and others like it that make things of value, right here in America. Those employees earn the money they are paid, and they in turn re-invest it in their local communities all over this country.
That is real "investment" by the private sector, in the private sector. Obama's "investment" in government pet socialist projects produce no new money -- they only take money from the producers and give it to the takers.
I certainly hope that you recieved a public education at minimal cost, because if you paid for one, you got robbed. I know that it feels good to give away money to those you consider less fortunate, but it really is much better for all concerned if it is your money you are giving away.
Hopefully, as you mature, and begin to experience the real world - you will recognize that it is not so much a question of rich vs poor, but rather givers vs takers. Once we reach the point that the takers are running the country, it will be too late for all of us, including you.
Posted July 12, 2011 at 7:16:29 PM
enemaofthestatistquo
Gadfly for Justice has landed upon his favorite steamy pile & is obviously high on the Fumes of Fascist Feces.
Posted July 12, 2011 at 9:42:55 PM
Just saying first
Gadfly: so buiding planes and yachts doesn't benefit society, you want jobs that benefit the whole of society? Like government jobs? Then who, you sorry excuse for a human, is going to produce and pay for all those gov jobs? What income will you redistribute?
We don't understand economics? How does your twisted view on economics work? Is it Socialism? Is it Fascism? Which "ism" do you prefer?
Why would I work, invest, suffer, and finally succeed, you moron, only to have you come and say, like Obama, now you have made enough money, give us some? Why?
And I don't see Obama giving those thousand that he says he has a surplus of to the IRS, do you?
Talking to imbeciles, here I go again.
Posted July 12, 2011 at 11:22:27 PM
Marcus
obama and crew is doing a good job of deflection if he's shifted the argument over to "go after the rich" from "we should stop spending so much and maybe get rid of most of these useless laws, regulations and government employees that go with them".
everybody should stay on point and dismiss his blather. let's keep going after spending cuts, government size reduction, and electing a new president.
Posted July 13, 2011 at 6:26:20 AM
Brian
Gadfly:
You chose the wrong forum to defend the socialist system that has been rotting this country from the inside for decades. I invite you to identify one, only ONE country or other large group that has been a success under the socialist system.
I can tell you why we have a progressive tax system: because of those of your ilk voted it in. Liberals/progressives/socialists all talk about what is fair. Do you really think it is "fair" for someone to pay more because they earn more? Is it "fair" that a very large percentage of Americans pay no taxes at all (I recall the figure 45% being batted around)?
But the basic problem comes down to this: it is not so much the taxes, but instead the way the Federal Government spends it. No one (not even you, I trust) thinks the government is a good steward of all that is entrusted to it. The Federal Government has reached far beyond that which is allowed in the Constitution, and continues reaching ever further, promising more to more people without determining (or even caring?) how it will be paid for.
And now we have reached the point where the promises are coming due and we don't have the means to pay for it. Therein lies the issue we are dealing with today.
Posted July 13, 2011 at 7:00:17 AM
Mike McGinn
As Benjamin Franklin famously said, "I am for doing good to the poor, but I differ in opinion of the means. I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it. In my youth I traveled much, and I observed in different countries, that the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer. And, on the contrary, the less was done for them, the more they did for themselves, and became richer."
Posted July 13, 2011 at 2:18:19 PM
Mike McGinn
That Coolidgeism "Don't expect to build up the weak by pulling down the strong" came from "The Ten Cannots" written in 1916 by Presbyterian Minister William J. H. Boetcker.
1. You cannot bring about prosperity by discouraging thrift.
2. You cannot strengthen the weak by weakening the strong.
3. You cannot help the poor man by destroying the rich.
4. You cannot further the brotherhood of man by inciting class hatred.
5. You cannot build character and courage by taking away man's initiative and independence.
6. You cannot help small men by tearing down big men.
7. You cannot lift the wage earner by pulling down the wage payer.
8. You cannot keep out of trouble by spending more than your income.
9. You cannot establish security on borrowed money.
10. You cannot help men permanently by doing for them what they will not do for themselves.
Posted July 13, 2011 at 2:25:25 PM
Mike McGinn
@ Gadfly,
So, let me get this straight. If a construction worker builds a 6000 sqft home for an "oligarch", that effort doesn't contribute to the welfare of society. But, I guess that if that same construction worker were building "affordable" housing for low income Americans (i.e., welfare), then it would. Ironically, the construction of welfare housing is the equivalent of your pyramid builder example. Both of these are government-funded work.
As for progressive income taxes, you need to read your history and study your economics a bit more closely. Just reading one book on the fundamentals of a society, and one on macro-economics will not do.
This nation had no federal income tax until 1913. Somehow we did just fine for 137 years without one. When first implemented, it had 7 tax brackets, from 1% to 7%. You didn't pay the 7% rate until you earned the equivalent of $11.4M in today's dollars. But once "the camel got its nose under the tent", the feds didn't waste any time dipping into our pockets. By 1918 there were 56 tax bracket, ranging from 6% to 77%. That guy who 6 years earlier didn't pay a dime, and who 5 years earlier had only a 7% marginal tax rate, now had a 76% marginal tax rate.
http://www.taxfoundation.org/publications/show/151.html
Posted July 13, 2011 at 2:57:09 PM
Richard Ryan
Folks,you are wasting your time trying to reason with someone like Gadfly.You do understand that a gadfly is a creature that flits around from one party to another,never settling on anything substantial.Arguing with one of them is like swapping spit with a jackass.
Richard Ryan
Lamar,Missouri - Birthplace of Harry S Truman
Posted July 15, 2011 at 11:47:01 AM
Mike McGinn
@ Richard
True...trying to reason with the likes of a Gadfly can seem like a waste of time, and I would not waste a moment of time trying to do so directly with such a person.
My hope is that others who read exchanges such as these posted in public forums like the Patriot Post, others who might be "on the fence" and trending towards a thought process such as Gadfly's, that these discussions will cause them to stop and actually think for themselves.
I considere it an attempt to educate others rather than an attempt to educate Gadfly.
Posted July 16, 2011 at 11:35:35 AM
Robert L
First, let me say this, I was born in 1940 and that lucky date allowed me to grow up in the best economic era our country has ever seen. However I have also seen the decay. For conservatives to say that regulation is bad is just plain silly. What is bad is too much regulation usually enacted to satisfy a beaurocracy in the system or to benefit one group or another, after all, that's what lobbyist are for. Liberals and conservatives have historically been careless where and why they spent tax dollars and until the voters stop treating the republican and democrat parties as religions we, as a nation, will always pay a terrible price. It doesn't take any effort to find abuses from both parties and that begs the question, when will voters start to vote the person and not the party? What’s going on in Washington is truly disgusting, if a republican was walking down the halls of congress with a vial containing the cure for cancer and a democrat was walking with cure for AIDS and if dropped both would be lost forever, they would trip each other. I really feel sorry for the youth of this country.
Posted July 17, 2011 at 11:48:05 AM