Ever since the days of colonialism in America, English settlers realized the importance of giving compensation for hard work. John Smith is famously quoted with having said: "He who does not work shall not eat." If John Smith would not have stated and enforced this rule, laziness would have quickly spread throughout the colonies. After all, if people will be fed even if they do not work, what incentive do they have to work?
The political campaign of Senator Barack Obama is reducing incentive for hard work. If those individuals making over $250,000 are going to be taxed 39.6%! for anything over $250,000 earned, what incentive do they have to work harder? Why would small business owners and large corporations want to make more jobs in the United States if increased revenue meant increased taxes? Why would these businesses increase their production of goods if that would only increase their revenue which would in turn increase their taxes? Why would Senator Obama want to tax oil companies, if that would in turn cause the oil companies to increase the price of oil on us (Bill O'Reilly)? Naturally, the demand for goods would increase because of a limited supply of goods, and unemployment rates would also increase because of businesses not wanting increased revenue for fear of increased taxes. Senator Obama wants to inhibit free markets and capitalism in the United States. He and his campaign have been trying to use scare tactics in order for U.S.' citizens to believe that taxing those who make over $250,000 will set us free from our current economic woes. This touches upon an even more fundamental issue: who is to blame for the current economic crisis?
Although many individuals claim that our current economic woes are attributed to too much deregulation, our woes are actually due to loans not being payed off.
Stay tuned...more to come on the collapse of Fannie Mae and Freddie Mac at a later date...
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2 comments:
yea, let's tax less the more you make...we'll start at 60% for those making nothing, and it will come down as you make more. that way people will really really want to be rich and nobody will be poor.
i just realized you might not pick up on the sarcasm. your ideas are based entirely on corporate philosophy and not on any recent economic data. what exactly is the income tax percentage that reduces the desire to make money? I'm guessing you think it's the exact increase that Obama proposes? Shoot, Obama might even quit politics since he makes over 250k. (sarcasm)
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