My question to Obama is this... How do you make the economy good "for folks at the bottom up" without injecting more government into the picture or letting capitalism work?
Does Obama really understand the essence of America? It is strong because of the American spirit of invention and the bravery to undertake new endeavors. Those at the economic bottom DO NOT create jobs. Those at the economic bottom get hired for jobs. When the economy is robust, more jobs are created, thus more people get hired. There's not a business existing in America today that doesn't want to "do more business." In order to grow, more workers must be hired, and more capital purchased... both of which benefit the economy. Doesn't Obama understand this???
Let's just do a little simple math to see how taxes really work. Let's say there is a person making $50,000/year and paying 15% in federal income tax. Thus, the person's yearly tax burden is $7,500. If someone making $1,000,000/year paid at the same tax rate, they would pay $150,000 in taxes. So, the person making $50,000 pays $7,500, and the person making a million pays $150,000. Those who make more money, pay more in taxes. It's only logical.
However, that is not how a socialist thinks. Rather than each person truly paying "their fair share," the socialist says that the "rich" person should not only pay more because he or she makes more, but they should also pay a higher percentage. So, the person making $1,000,000/year instead pays 35% in taxes for a tax bill of $350,000. That's an extra $200,000 that the government takes out of circulation to pay for their social engineering.
My contention is this, there is basically nothing that the individual with an extra $200k as his/her disposal could do that is "bad" for the economy.
The person could save it, thus giving banks more leverage to do business. The person could invest it, thus helping new or established companies grow. The person could donate some to charity, thus helping organizations at the grassroots level do things more efficiently than the federal government could ever hope to. Or, God forbid, the person could simply go out and buy stuff. Two hundred thousand dollars of stuff is a lot of stuff! Imagine all that cash injected into society. Talk about a stimulus package. More goods being purchased, whether it is cars, clothes, furniture, food, or whatever, means that more jobs will be needed to produce those goods. It's as simple as that.
The problem is that Obama uses the politics of "trickle down economics" to pit one socio-economic group against another. It is typical class warfare, and it is un-American. Someone (McCain) needs to meet this head on and use some "straight talk." There is no "trickle down" theory. The more money that is in the hands of those who make the money, and outside the clutches of government, benefits the entire society instantly. There is nothing to trickle down. When all Americans are treated fairly, we all benefit. That is the American way!
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