Thursday, September 10, 2009

"A Government big enough to give you what you want, is big enough to take away everything you have"

I started this as a response to my good friend The Wannabe Outdoorsman's post regarding Barry's speech to schoolchildren (click his link on the right to read), but then it got too long-so here goes!

My friend,

Ok so Cap And Trade we'll have to agree to disagree on...

The stimulus bill is helping your industry? My business with my clients has soared this year. Great, but our industries aren't the sole buoy to hold up the nation's financial ship. We have to think bigger than the personal microcosm here...Banks are repaying loans? So what, that's not a major indicator of economic growth, and viability. In fact in this instance it's going to hurt us in the long run. Why? Because of the correct point you said about interest rates going up.

The packages’ spending (like virtually all failed govt. stimulus plans of the past 70 years) is based on the Keynesian theory that injecting money into government projects will eventually make its way to American workers. Theoretically then, when the economy is in better shape it can repay the debt through taxes.
The problem with this failed principle is that, if a government has to borrow or create capital to finance these types of public projects, (which ours is) GDP growth will be reduced as a result of debt, interest on debt, higher interest rates and taxation of the citizenry to repay the debt. The larger the sum of money borrowed to finance growth, the heavier a repayment schedule, the higher interest rates go, the larger the tax burden is to be repaid by all Americans and the greater a hindrance on economic stability and growth of GDP.

In fact, economic estimates already are calling for a precipitous fall in GDP by 2020 if not sooner... In the meantime my friend, unemployment hit 9.5%, while real unemployment hovers around 16.5%. Over two million jobs have been lost since Mr. Hope and Change took office. Foreclosures are rising, while economists expect 1.5 million people to file bankruptcy this year. Many states are facing severe fiscal crises, with California being on the verge of bankruptcy. And you say it was scary for a while?? Maybe it was, but now it's positively terrifying.

Now my favorite issue, taxation. Yeah bro, no one wants more taxes and no one wants a high deficit, but to have Barry raise taxes and quadruple the deficit in the same term is financial lunacy! Who the hell wants to hear or deal with both of those things at the same time? Moreover, just because you and those in D.C. deem the top 2% to have expendable income, (i.e. the fact that they won't miss a meal) doesn't mean that it's ok for the govt. to straddle them with more of the burden for everyone else than they already bear.

Yeah, no shit, no one complains about making more money...for now... Wait to see how many employers pay people anything over $250k when tax liabilities go up. How happy or motivated will people be then? Or should we all just be happy with that amount because, after all, that's more than the average person makes, why should anyone want more than that? That's not what this country was founded on my friend. In fact, I'll remind you:

“I cannot undertake to lay my finger on that article of the constitution which granted a right to congress of expending, on objects of benevolence, the money of their constituents…Charity is no part of the legislative duty of the government." -James Madison.

"To take from one, because it is thought his own industry and that of his fathers has acquired too much, in order to spare to others, who, or whose fathers, have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, the guarantee to everyone the free exercise of his industry and the fruits acquired by it.” — Thomas Jefferson

"A wise and frugal government… shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government.” -Thomas Jefferson


At 1:56 PM, Blogger Greg said...

Allow me to quote Mr Madison and Mr Jefferson as well. Ahem.

"I own slaves." - Thomas Jefferson, from the rooftop of Monticello, to the crisp morning air, October 1794

"Holy Shit the British are burning Washington!" - James Madison, 1814

(this one is actually true)"Taxes should be proportioned to what may be annually spared by
the individual." --Thomas Jefferson to James Madison, 1784.

I wrote a huge essay refuting you point for point, I can email it to you if you want, but it comes down to the same ideological differences we've had for as long as we've known one another. I think trickle down economics is a farce, you think taxing the wealthy is a communist enterprise. Et Cetera.

At 2:03 PM, Blogger goose said...

HA!, well played. The "quotes" made me laugh. Thanks for the friendly discourse bro! Yeah, agree to disagree seems to have been our m.o. for over a decade now, don't fix what ain't broke my friend!

At 9:45 AM, Blogger Greg said...

Agreed. Be well! let's golf sometime before the weather turns.


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