Only a Liberal…

Whatever word you want to use to describe Barack Obama, there is no doubt he supports wealth-redistribution. Marxists, socialists, and communists alike think of wealth as though it is no different than oxygen. The fact that some people have more of it than others is not fair to them. The problem with wealth redistribution consists of two incorrect assumptions:

1. Taking money from the rich “helps” the poor
2. There is no difference in value to the community between two people who work

Taking money from the rich actually HURTS poor people. Econ 101: you can’t tax a corporation. All costs of a corporation must be included in the price of its product. You raise taxes on big business, they simply raise the price of their product, and anyone who buys it suffers. Taxing businesses is a hidden sales tax on the consumer.

Another way for a business to get their tax money back is by doing more with less, as in less employees. Putting a luxury tax on yachts may make you feel better about soaking that rich bastard, but it will result in decreased yacht sales across the board. Rich guy says, “eh I dont need a yacht” or “I dont need a 2nd yacht!” Rich guy is still rich, but some yacht-making craftsmen will see his work disappear. You may not like “trickle-down” economics, but I don’t like that beer makes me fat. Tough shit.

Filthy rich CEOs create jobs

As for the difference of value between one person’s work and another’s, the work of a CEO or VP of sales can produce contracts and capital to produce more jobs, while the work of the entry-level employee cannot. The CEO comes up with a good idea and fronts his own money to the entry-level employee to help him achieve a goal. Rich businessmen may be in it for the money, but their desire for it creates amazing byproducts. Their prosperity helps create prosperity for others.

Steve Jobs invested millions of dollars into a touch screen cell phone that could have bombed. The incentive to make billions from it is what made him take the risk. What happened? The iPhone is a huge succes, and as a result, Apple Corporate had to hire thousands of engineers, sales people, Apple Store had to open new branches, hire more Apple Geniuses. AT&T increased their customer base when people bought and signed up for service with the iPhone, causing them to open more branches, hire more people. Both companies probably had to hire new HR employees to handle all the new employees. Is Steve Jobs an evil businessman? Did his money and prosperity not get back to the “people”?

In this financial crisis, people have gotten fed up with rich businesses making “too much” money, so they want the government to take care of it. Americans are appalled that some CEO made $200 million, and they want people like Obama to take it away. Obama is happy to oblige, but just because Obama might be able to get his buddies to pass legislation stealing that CEOs contractually agreed upon compensation does not change the fact that it is stealing. You take all the crazy incomes of all the Wall Street CEOs, and give them back to the American people, it will be about $20 a person. Does that solve your financial woes? Why not let that CEO keep it and wait for him to invest it in the market, or in a new company that creates hundreds or thousands of new jobs?

The myth of Robin Hood

Robin Hood did not steal money from a rich businessman. He stole it from a rich dictator, who decided the levels of taxation with no concern or council from the people. Barack Obama would like you to think he is Robin, when in fact he is King John.