Obama assures us that tax hikes on the upper ($250K+) class won't affect normal $30-50K/yr average folks, which underscores a fundamental misunderstanding about how the economy works. There are many reasons why raising taxes on anybody while a recession looms is a bad idea, but increasing taxes on the job-creating class now is especially foolhardy. $250K+ people routinely support entire families on their discretionary income alone, something many of them will be cutting back on during impending hard times.
If you make a living in one of these industries, you should consider voting for someone other than Obama: general contracting or remodeling (plumbing, electrician, roofing, siding, carpeting, painting, etc.); home building; custom cabinet and furniture making; landscaping; clothier, haberdasher, dressmaker, eyewear or other fashion clothing manufacturer or boutique; professional photography; professional musician; fine artist or fine art gallery; luxury car sales and service; custom auto body shop or auto restoration; RV, boat or ATV sales; private education; gourmet food and drink; baker, chef or restauranteur; antiques and collectibles; consumer electronics; travel and tourism, including museums, aquariums, amusement parks and ticketed festivals; plastic surgery, cosmetic dentistry and other elective medical procedures; jewelry; real estate; financial planning, investment and venture capitalism; non-profit, religious and benevolent organizations; organic farming and grocery; high-quality musical instruments; high-quality sporting goods; ticketed events such as professional sports and concerts; event planning and DJ services; interior designer or decorator...
Get the picture? Pretty much any goods and services the average person cannot afford or has to put away money for will be affected. And these are industries that employ many average middle-class people. Obama wants to use the tax code to redistribute the wealth of the upper class amongst the middle and lower classes, but he forgets that the upper class redistributes their own wealth — the only difference is that rich people share their wealth with those they know to be deserving, honest and hard-working individuals (for example, my father, a self-employed custom cabinet-maker for 15 years). Obama says he wants to give everyone opportunity, but he takes away the primary incentive for working hard and producing quality goods and services — the acquisition of wealth by gaining the favor of those who have it.
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3 comments:
Actually this doesn't have much to do with Joe the Plumber. Joe the Plumber just reminded me of this issue that nobody ever talks about.
Years back there were some who complained about "trickle down economics" as though it were some kind of monster. I often wondered why this concept was so disturbing to them. Some folks have more money than others, this is just the way things are, even Jesus said so. (Ok, he said the poor would always be with us.) If no one is rich then no one can afford to buy or hire and therefore everyone becomes poor... except, of course, those who hold the control.
I didn't listen to the debate, but it wouldn't surprise me if that is precisley the connection McCain was trying to make.
Wisely put Jim. Write to the editor.
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