Friday, February 27, 2009

Obama's Workers' Paradise Will be a Cesspool

Part of the problem is that Dems, libs, leftists, Marxists, Obamaists, etc. seem to think that businesses, employers, and "the rich" get their money the same way that government does -- they either (1) steal it from others or (2) they simply print it.

As a result, (1) it is only "fair" to disgorge them of their ill-gotten gains, or (2) it causes them no harm since they can simply go print whatever money needs to be paid in taxes (or in additional minimum wages or regulatory costs). I don't know how many times you need to go up to them and knock them on the head saying, "Hello? McFly?" before they begin to understand that businesses, employers, and "the rich" actually have to get their money from somewhere, and if they have to pay it to the government or have extra costs imposed by government, then that leaves less money to hire employees, and less money to invest in companies that hire people, and less money to buy things from businesses that employ people.

Obama's bullet train to Marxism will cost jobs.

Moreover, the Dems, libs, leftists, Marxists, Obamaists, etc. seem to think that businesses, employers, and "the rich" are as brain dead as their entitlement-mentality constituency is, and that they will simply bend over and take it. Actually, what is going to happen is that government will take in far less than the numbers quoted as a result of these tax rate hikes. The affected people will simply work less and produce less, resulting in less tax revenues, not more.

For example, in my own business, I have worked less and less over the last couple of years because, over a certain amount (a measly $32,550), I have to pay about half of what I earn to the government. Every dollar over that amount is subject to 25 percent federal income tax, plus 15.3 self-employment tax (Social Security, etc.), plus about 5 percent state income tax equals an over-45 percent tax rate. Then, if I actually spend that dollar, add in sales taxes of 5 to 10 percent. So, for every extra dollar I earn, I have to give 50-55 percent to the government.

Stated another way, I am forced to labor nearly an hour for the government for every hour I am allowed to work for myself. Screw that! It ain't worth it. I live a simple life. Extra money is nice, but I don't need it (at present), so why the hell should I put in all that extra work only to give half to the government? My time is worth more to me than the money. As a result, I have reduced my workload, thus reducing the taxes actually received by the government.

Millions of others have figured it out as well, and they will do the same thing -- they will simply work less and the expected revenues will not be seen.

I repeat my prediction from a few days ago -- we could very well see the economy naturally pick up by the end of the year. But then, when the Obama spend-a-thon really kicks in, it will strangle the infant recovery in the crib. We will see a little uptick, only to be followed by crash and burn.

Then we will see what Osama, Al Qaeda, Ahmadinejad, Putin, Chavez, et al. have in store for us.


No comments: