The concept of our government taking from those who “have” and giving to those who “have not” is not new however, President Obama has made the re-distribution of wealth a key component in nearly all of his administration’s economic policy making. With their constant portrayal of the middle and lower class fallen victim to the evils of capitalism, Democrats have succeeded in its promotion of a much more liberal attitude to this segment of Americans, many of whom have experienced heavy financial setbacks in the wake of a long lasting recession. As a result, many of those affected are now getting behind Obama’s ideals of giving more to those who have less by taking away from those who have achieved greater financial gains through hard work, risk taking and self determination to succeed.
Small business is the motor of the economy
Small businesses provide jobs to more than half of the private sector workforce making these businesses the undeniable impetus behind our nation’s economy. With private equity and the willingness to take risks in return for financial reward, investment capital firms and individuals with the financial means can be credited for the creation and growth of all small businesses. The success in the creation and growth of any small business relies on three key factors. First; there must exist a stable economy where consumer confidence is high and promotes the willingness to spend. Second; there also must exist a desirable rate of return on investment as without a good return on the investment dollar, there is no incentive to invest. Third; and most important, there must exist access to capital for those who wish to invest in new or expanding small businesses.
With nearly nine million jobs having been lost since the start of the recession in 2007, most seemingly to be gone forever, it would appear logical that the White House would be in support of those who invest in the small businesses that create much needed new jobs. Instead, the White House’s “government” approach to new job creation spurs more ill will, with top job creators, than incentive as can be measured by the stagnant growth of our economy.
Let the people play Robin Hood!
The recent California elections provide a clear example as to what influence the liberal agenda, of wealth re-distribution, has had on voters. In a state where the unemployment rate is more than two percentage points above the national average and also boasts the highest poverty rate in the nation, the Obama administration’s, “the wealthy can afford it” mantra is readily received by the far left leaning state. The high percentage of financially distressed Californians provided Governor Jerry ‘Moonbeam’ Brown the ideal circumstance to encourage voters to embrace the “redistribution of wealth” concept in support of his Proposition 30, a proposition which unduly distributes the majority of its tax burden on California’s wealthy. The mechanism used to fund Proposition 30 is not unique as California, along with many other states, singled out the wealthy as the source of revenue generation in numerous other referendums.
Working outside the will of the people, we have liberal lawmakers that are steamrolling down a path of forced socioeconomic equality, of course, at the expense of the nations wealthy. The Patient Protection and Affordable Care Act, better known as ObamaCare, is a prime example of these liberal lawmakers taking aim at the wealthy where not one but two surtaxes, in the law, are paid exclusively by higher wage earners. At the direction of President Obama, the pending “Fiscal Cliff” deal also has these same liberal lawmakers working to increase tax rates on the highest two percent income earners while extending the Bush era tax cuts for the remaining 98 percent. Such an action does little if nothing to solve the fiscal crises of the nation but does further the President’s effort to gain greater socioeconomic equality at the expense of the top two percent.
Where does it end?
Like the actions of a serial killer, the first time is always the hardest and from there it just keeps getting easier, and so goes the act of taxing the wealthy. But when does it end or will it? For liberals, wealth re-distribution would likely not end until equilibrium has been reached however, the nations wealthy will likely not stick around long enough to see that day come. Following the trend of companies moving to more business friendly countries, so too will the wealthy, along with their money.
The economic effects of targeting the wealthy
Aside from driving the wealthy out of the country, the attack on the nation’s highest wage earners significantly reduces the capitol available for both investment and commerce.
Although the actual number of wealthy persons continues to grow, the rate at which they are growing is at a 16 year low. More significant is the substantial drop and continued decline in assets held by the wealthy. This drop and decline can be linked directly to the condition of our economy where an unstable marketplace, created by factors such as the uncertainty of the costs of ObamaCare and the threat of wealth redistribution, reels in the risk takers who instead seek safer and therefore lower yielding investment opportunities which rarely include new business or business expansion and in turn stifles new job creation.
The continued loss of the wealth that fuels our economy seems to matter little to the President who’s true goal appears to be the dismantling of class distinctions through the process of de-incenting the human spirit to a point which the drivers of our nation’s economic engine gives way to a social class “of the government, by the government and for the government”.
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