Bottom Up Economy
October 18, 2008 | Filed Under 00Publius Contributor, Dan Scott, Democrats/Leftists, Economy/Finances, Elections, Government, Corruption, Media Bias, News, President, Security/Safety, Socialism, Society/Culture | 1 Comment
-By Dan Scott
You have heard Barack Obama’s sound bite decrying trickle down economics and calling for bottom up economics. As you shall see, this is an ironic twist that literally ends up hurting the poor. Unfortunately for Obama, someone asked a most impertinent question regarding his bottom up economics that up ended the sound bite.
The now famous Joe the Plumber with dreams of becoming a self employed business owner realized Obama’s tax the rich scheme in reality would destroy his plans and cause more unemployment.
Barack Obama: “And I Think When You Spread The Wealth Around, It’s Good For Everybody.”
JOE WURZELBACHER: “I’m a plumber. You know, I work, you know, 10, 12 hours a day. If I buy another truck and add something else to it, and you know, build the company…”
OBAMA: “Right.”
WURZELBACHER: “… you know, I’m getting taxed more and more.”
OBAMA: “Nobody likes high taxes.”
WURZELBACHER: “No, not at all.”
OBAMA: “Right? Of course not. So — but what’s happened is, is that we end up — we’ve cut taxes a lot for folks like me who make a lot more than $250,000. We haven’t given a break to folks who make less. It’s not that I want to punish your success, I just want to make sure that everybody who is behind you, that they’ve got a chance at success, too. And everybody is so pinched that business is bad for everybody. And I think when you spread the wealth around, it’s good for everybody.”
(FOX News’ “On The Record,” 10/13/08)
Isn’t it amazing what one person can do if they willingly suspend their disbelief to look past the sound bite propaganda line of the “bottom up economy”?
McCain himself was in rare form at the Alfred E. Smith Dinner recently. I think he should play this at the half time in opposition to Obama’s 30 min infomercial before the game. Actually, he should take his own joke seriously, fire his campaign staff and have Joe the Plumber do it all.
Barack Obama demonstrates Democrats don’t understand economics given their love affair with Socialism. Let me explain this to Democrats in simple terms. What you call trickle down economics is the natural order of Capitalism called profits. Profits are what Socialists decry as excess cost and what Democrats justify taxing in a caviler Robin Hood type manner. Taxes are an expense to the bottom line like any other expense such as material and labor. Every dollar a business pays in taxes is passed on to the consumer, profits are what is left over after all the expenses are paid. All taxes on business are stealth taxes upon the consumer who uses the product or service. Without profits there can be no investment in new plants and equipment. Without new investment, age and inefficiency drives up costs and lowers the standard of living for all, especially the poor. Without profits, there can be no new jobs or rising standard of living for those at the bottom of the economic ladder much less the middle class or the wealthy.
The central principle of being a Socialist is to be in control of those profits (as opposed to the owner of the company) to direct them in some PC manner for the supposed good of all. The business owner is primarily interested in making a profit to justify the company’s continued existence, not so with Socialism. As it usually turns out, the PC directives are wrong and self defeating. Government meddling in the economy such as with mortgages to unqualified borrowers (defaults), the drilling ban (outsourcing of energy to foreign countries driving up energy prices), ethanol mandates (driving up food prices), etc. are all examples of the failure of PC directives mismanaging investments/profits in this country. Socialists are singularly unqualified to run anything much less be responsible for the outcome of their actions. Democrats acting under the influence of Socialism have categorically demonstrated their disqualification by blocking any reform that might have prevented the mortgage crisis in the future and by not accepting the responsibility for their contribution to it. If you can’t accept the responsibility, then you can’t address the cause.
Now let’s look at the so called “bottom up economics” as propagandized by Barack Obama. He wants to (what I would call) bribe every adult in this country to vote for him with a $500 refundable tax credit, essentially a negative income tax. Where does this money come from? Tax the rich and windfall profits tax on big oil. Notice that in order to do anything Obama confiscates money from those who are the most effective producers of wealth and gives it to the least effective producers. He as a Socialist who doesn’t create wealth. Only Capitalism creates wealth, Socialism can only redistribute it. Secondly, and referring to my original points of basic Capitalism above, by taking money from the profits of the big oil companies and from the wealthy he automatically reduces the amount of money for investment in new plants and equipment. Thirdly, anyone who has money in an index fund in their 401k and IRA is BIG OIL. You have met the enemy and they are US. By reducing the profits of BIG OIL you directly reduce the income of senior citizens or those soon to be retired. Fourthly, wealthy people & small business owners invest their earnings, not spend all of it like those at the bottom of the economic ladder. This means when you take that extra 3 or 4%, which of course Socialists would belittle as some miniscule amount, they again just like with big oil, destroy the future of the poor and condemn them to a stagnating standard of living. Since most job creation is done by small business, that 3 or 4% will be right out of the profit margin and therefore removed from any future investment or expansion.
Socialism is a parasitic ideology, it is nothing more than the powerful few (government leaders) confiscating money in the name of the masses to impoverish the very masses it claims to be acting in their best interest. Socialism is nothing more than stealing. Bottom up economics is just a slick euphemism to further impoverish the poor via a vote buying scam. Obama claims he is for the poor because he will give them $500 up front and then behind their backs literally incrementally take thousands from their standard of living every year via stealth taxes. No one ever dreamed “growing the economy up from the bottom” really meant “screwing over the poor”. So Obama at this point still gets a zero for not supporting the poor. What Obama’s real economic plan is called the LONG CON.
———-
Dan Scott calls himself a “Member of the Global Capitalist Cabal preaching Capitalism and personal responsibility as the economic solution to world poverty.” He is also a member of the 14th Amendment Society — victimhood is a liberal code word for denying the civil rights of others. He is also a proud member of the Global Warming Denier Cabal, insisting that facts not agendas determine the truth.
Dan can be seen on the web at http://www.geocities.com/fightbigotry2002/ as well as http://www.geocities.com/dscott8186/saidwebpage.htm, And can be reached for comments at dscott8186@yahoo.com.
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