Are we living in the Land of Oz? I can’t believe I have to point this out. But see it or not, there’s an elephant in the living room. Let’s talk about it.
I’m tired of listening to the sanctimonious moaning of those who believe that making a profit is immoral. I ran into it in Europe, big-time, just a few weeks ago. Visited Spain and Italy and Romania. In Spain and Italy, people who had money were suspect; not just by the government but by everyday people. And in Romania…not so much, but it’s complicated there as Romanians have been shell-shocked by Communism and are just getting to understand a free market economy (with a 16% flat tax!).
Is profit-hating happening here in the U.S.? The trend has certainly been in that direction, but because of the recent goings-on with Obamacare, immigration and the other big-government failures, the tide may be turning. Really. That November 4th election said something dramatic: No mas! Will our leaders get the message that less-is-more?
In any case, understand this, United Workers Of The World: If I don’t make a profit then you don’t have a job. And if I don’t make a profit and you don’t have a job, there is that much less tax money for the government to take. If the government doesn’t have enough money, how will government workers get paid? Suck up my profits along with those of the other 30,000,000 businesses in the U.S., and no one gets paid.
See what Art Laffer has to say. Amazing that this must be carefully explained. Too much I take for granted.
In the past 60 years we’ve seen the positive effects of lowering taxes in three administrations: John Kennedy, Ronald Reagan and Bill Clinton. Democrat or Republican, economics doesn’t care. We’re dealing with simple mechanics. Fuel the fire of free enterprise and a raging economy will flare up.
Yes we need governmental systems and regulation. But maybe about 30% less of it than what we presently have.
Bottom line? A better man than me said this over three decades ago: Government isn’t the solution. It’s the problem.
Photo by Egor Gribanov via flickr used under a creative Commons License.