“And if we can’t ask from society’s lottery winners to just make that modest investment, then really this conversation is for show.” This is the statement from Barack Obama earlier this week (see below) when he furthered his attempt to divide the wealthy and the poor. Specifically, Obama was speaking about the wealthiest Americans; however, he fails to credit the hard work, integrity, risk and sacrifice many of those individuals endured to get where they are – whether hedge fund managers, real estate investors, business owners or technology company founders. Obama was not describing silver spooned inheritance driven Americans, he was describing America’s financiers — and his statement completely dismisses and discredits their hard work. The statement comes from forcing more wealthy Americans to pay more to subsidize the failing government school system.
Obama states in his comments, that he does not find the wealthy “evil” but does want the top 5 percent of Americans to pay more than the 50%+ in taxes than they are now. Utilizing government doublespeak he said about hedge fund managers, “I’m saying, that you’re a lower rate than a lot of folks who are making $300,000 per year. You pretty much have more than you will ever be able to use and more than your family will ever be able to use; there’s a fairness issue involved here.”
Obama’s statement implies the wealthiest Americans don’t work for the money they have earned Obama also should have mentioned that, from a global perspective, all Americans are lottery winners simply due to the country we were fortunate enough to be born — a capitalistic society that rewards hard work. Big time Obama supporter, Warren Buffett himself, has said, “I won the lottery the day I emerged from the womb by being in the United States instead of in some other country where my chances would have been way different.” Buffett also astutely states that being born in America will get you so far on its own — it is what you do with it that matters. He is a strong believer in hard work, integrity, hiring quality people and a strong sense of economics is what makes businesses successful. He does leave out a cozy relationship with the right people in Washington, D.C. as Buffett utilizes a healthy dose of crony capitalism for profit.
I wonder if Obama would call hedge fund manager Paul Tudor Jones a “lottery winner?” Jones is a major philanthropist and is the founder of the Robin Hood Foundation. It does work the government will not do or better yet, cannot do. I do not need to wonder if Obama would call the Koch Brothers “lottery winners.” I believe he would, even though, through hard work, the brothers have transformed their father’s business into the second largest private corporation in America while donating hundreds of millions of their own money to quality charities. Would Obama call Wayne Huizenga a “lottery winner?”
The simple point is when Barack Obama makes statements like these, he ignores and trivializes the heroic efforts of the American business person. He ignores the tremendous number of hours people put into their businesses and the sacrifices they endure to succeed. The result of their success is job production, more money for taxes and more money for charities. Belittling these Americans is shameful as their contributions they have made to America has brought this country to be the leading financial center of the world.
Perhaps, a change to the tax system is in order to make it fairer for everyone. Perhaps the FairTax may be the best option for America and it would eliminate the tax argument of the rich versus the poor.