The Wonders of Capitalism: my latest Guest Commentary in the Boyne City Gazette
Making villains of those who provide non-government jobs is not productive. As renowned economist Milton Friedman stated regarding Capitalism, “The great achievements of civilization have not come from government bureaus. The only cases in which the masses have escaped from grinding poverty are where they have capitalism and largely free trade. Where the masses are worst off are in societies that depart from those principles”. When government provides all jobs and exerts all control over its population, there is no opportunity or reason to work harder. We only have to look at every one of the third world countries, including those which are now fighting for their freedoms, to see that this is true.
“Productive activity unleashed by a free enterprise system” is what made America great enough to donate billions of dollars to less fortunate countries each year; to provide a safety net to those Americans who cannot make it on their own; to encourage entrepreneurs to put their money at risk to create new machines, drugs, movies, restaurants, stores, etc. These people know that if they are not successful, if they don’t work very hard, if they have a bad idea, if they can’t find good workers to make their companies successful, they will lose every bit of money they put into their project. On the other hand, if they are successful, work 12-18 hour days, provide jobs to hundreds or thousands, they will and should be rewarded for their risk-taking.
It is often stated that the “rich” are greedy, and do not pay their fair share of taxes. We cannot make everybody rich by taking the wealth away from the job-providers in America. The rich have options – they shut their businesses, they take their businesses and families to a country which does not confiscate their income, and they stop buying the expensive items which are made by those who are employed to make them.
Just who are the “rich?” A dual-income of $250,000 in no way makes a couple millionaires or billionaires, as Obama declares. They are often those who are working long hours to improve their lives. Their income tax rate is 35% compared to 0-15% for the lowest wage earners. Their taxes are further increased by limits placed on their deductions for charitable donations, mortgage interest and property taxes, and by the Alternative Minimum Tax. They are not the greedy workers who have it all; they are the ones making capitalism work. Untaxed are 40% of Americans. Avoiding taxes are the ultra-wealthy who don’t need to work, who pay attorneys to shield their income, who live off dividends and capital gains from trust funds (taxed at much lower rates}. They often donate millions to charity.
The more our government encourages making more of us dependent on government for survival, the more the work ethic deteriorates. When this number reaches over 50% (it’s 40% now), there will be a majority of voters demanding more from the producers of wealth in America. It is an efficient way for one political party to secure its dominance for decades, for a majority of votes will be theirs, to tax the “greedy rich” for everything they need. They will be demanding more vacation days, more pension and healthcare benefits, and enough pay to put their employers out of business. That is when the ones who make capitalism work in America will be persuaded to stop, because the extra effort will not be worthwhile.
Public schools have been subtly teaching that America is not a great country, that it is in fact evil, as is capitalism. This has been intimated by none other than our President as he visits foreign countries. Our capitalism has provided a system where hard work is rewarded. As Milton Friedman said, “In all recorded history there is no alternative way of improving the lot of ordinary people that can hold a candle to productive activity unleashed by a fee enterprise system.
It is Obma’s vision to have all money “fairly” controlled by government and doled out equally to everyone – regardless of work ethic. The divisive “Hate the Rich” message of this President, abetted by Progressives, is harming America and promoting Socialism.
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FURIOUS BIN LADEN SUPPORTERS VOW 'REVENGE' ON STREETS OF LONDON
HUNDREDS of Osama bin Laden supporters clashed with English Defence League extremists today as a “funeral service” for the assassinated terror leader sparked fury outside London’s US Embassy.
Police stepped in to separate the chanting groups amid threats of violence from both sides.
US leaders were branded “murderers” by radicals, who warned vengeance attacks were “guaranteed” and shouted: "USA, you will pay."
US leaders were branded “murderers” by radicals, who warned vengeance attacks were “guaranteed” and shouted: "USA, you will pay."
Read more: http://www.express.co.uk/posts/view/245148/Furious-bin-Laden-supporters-vow-revenge-on-streets-
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ABC News opines: U.S. intelligence is now in possession of a veritable "playbook" of al Qaeda operations -- from potential terror attack targets to information on international safe houses and top commanders -- thanks to the Navy SEAL raid that took down Osama bin Laden Sunday, officials told ABC News today.
The cache of electronic and handwritten materials obtained by the SEALs includes numerous hallmark al Qaeda plots including attacks on infrastructure targets such as water supply and transportation including rail and air, in what one official described as a "strategic guide for how to attack the U.S." In the past, al Qaeda planned for attacks on water supplies have included an interest in mining dams and in poisoning water supply. Intelligence experts have also have found what appears to be information about safe houses around the world and about al Qaeda leadership. http://abcnews.go.com/Blotter/osama-bin-laden-raid-al-qaeda-playbook-revealed/story?id=13544154
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