Remember when Mitt Romney was attacked by the media for only paying a 15.4 percent tax rate? Well, President Obama’s rate is not much different: 18 percent for 2012. Romney had more than $3 million taken from him in 2011.
No one person should have to pay that much money, especially when the government that confiscated it will most likely waste it. If Romney had been able to keep most of that $3 million, it would have done more for the economy than any government redistribution program ever could. Envious voters don’t understand this. They want prosperous people to be punished for their wealth not realizing that punitive tax measures hurt the poor. Do poor people really believe that taxing rich people is somehow going to benefit them?
Romney most likely would have saved, spent, or invested the money that he had taken from him. In each case, the economy would have benefited. High tax rates lead people with high incomes to look for safe havens for their capital. High taxes keep money out of the market place where it can do the most good to bring prosperity to others who are willing to work. Government redistribution programs often remove the incentive to work.
The 14 percent tax rate of the Obamas is somewhat deceptive since they get free housing, free food, free travel, free vacations, free everything. If you or I got these perks, we would be taxed on them. I suspect that President Obama actually pays a lower percentage than Mitt Romney because of these presidential perks.
The media and, unfortunately, some Republicans during the 2012 election made an issue out of the tax rate that Mitt Romney paid.
Republicans seem always to be apologizing for being prosperous. They should stand up and tell the world that prosperity is good for everybody. People with money spend, save, and invest it. If they spend it, jobs are created. If they save it, that money is loaned out to people who start businesses or build things like homes or buy things like automobiles. The more money available that’s available to lend, the lower the interest rates will be. The result? Jobs are created.
Money that circulates naturally rather than governmentally finds the best places for investment opportunities. Failures and successful investing offer feedback to investors. Government spending does not care about feedback. The fact that 47 million people are on food stamps does not register to a politician even the increased numbers are direct negative feedback of a failed economic program.
A sluggish economy and high unemployment figures don’t register as policies that need adjustment. President Obama gathers political support and makes things worse by calling for more taxes from the very people who can make an economic difference. An owner of a business does not have the luxury either to force people to pay him more money (taxes) or print money (theft) to correct a bad business decision.
When taxes go up, expenses go up. There’s only such much room for price increases, and there’s only so much room for a business owner to eat the higher costs. Something’s got to give, and what gives are employees who have their hours cut back, pay reduced, or end up losing their job.
I don’t care how much money someone makes, as long as he got it honestly. People who make money contribute to the economy. Liberals believe the economy is like a pie with only so many pieces. If one person has a big piece, this must mean that another person is left with a smaller piece. This is nonsense economics. If you want to see its results, go to Cuba or North Korea. Free market economics is not a zero-sum game.
People like Romney who have money to lose invest in companies that did not exist 10, 20, or 30 years ago, companies that were only ideas on paper. These once non-existent companies now employ millions of people and make our lives easier and more enjoyable.
Envy is a destroyer. As a nation, we must flee from it before it destroys this nation.