Tuesday, July 7, 2009

Can Obama "Transfer Wealth" to the Middle Class

The answer to that question is NO. A transfer of wealth takes place in this country every day and it does not begin in Washington D.C.

The real transfer of wealth in this country begins when a man or woman has a unique idea and, with the entrepreneur spirit that makes America great, creates a business that provides jobs and recirculates money into the economy. This type of wealth transfer (transfer through creation) rewards achievement and hard work. This is the answer to the economic crisis that this country finds itself in.

The real transfer of wealth in this country begins when ordinary, hardworking citizens invest in mutual funds, 401K's, real estate, and the many investment opportunities that this country provides. Transfer through creation. The engine of capitalism is the single greatest creator of wealth in history.

The real transfer of wealth in this country comes when men and women get up every day and go to work and receive compensation in the form of a pay check. Transfer through creation.
The greatest wealth building tool that most Americans have is their income.

The re-distribution policies of President Obama result in little more than a Robin Hood economic policy that robs from achievers and gives to underachievers, and the key word here is robs. A real transfer of wealth is when real wealth is produced, and then the fruits of that production is distributed to those who participate in the endeavor. Re-distribution of wealth just moves wealth from people who have achieved and created something to people who have never created anything. It is an insult to everyone who has ever gotten up at 4:00 AM to go to work to earn an income to support their family and never asked the government for its "help".

The President clearly favors a policy that rewards underachievement and punishes achievement. He is wrong. The only economic policy that will work is to allow the American people to do what they do best; create. The President is setting out to intentionally create an entitlement society because his ideas can not produce on their merits. Anyone with common sense can see that his policies are wrong. The only way he can remain in power is by having the American people dependent on him. As President he has created no jobs, his policies have created no wealth, and the economy is under-performing because his policies have a disruptive effect. It is time for a common sense approach. Get the money out of Washington and back to the people with real tax cuts that reward investment and job creation. In turn, the economy will grow and Washington will benefit from something it has been losing for many months; revenue.

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