Obama Can Improve Economy Using A “Share The Wealth” Policy

By Donald Griffith on September 3, 2010, 11:28 am

President Obama believes he can improve the economy by using a share the wealth strategy. This strategy, much like Robin Hood’s steal from the rich to give to the poor, encompasses taxing everybody with any type of income and giving it to those that have no income. While this may sound like a Utopian answer to the problems this country is facing, it is not. A quick review of Robin Hood’s story will reveal that Robin stole from the over taxing government and returned the money to the hardworking people of the kingdom. That is the issue at hand here: an overburdening government squashing the people.

Share The Wealth Is Undermining Hiring And Job Stability

Business owners have placed a freeze on hiring. The question is why. Many people believe it is through greed. While this may be for a very distinct few, in reality this is not the reason. The reason is taxation. The federal government is burdening the business sector with so many taxes that they cannot afford to hire anyone new. To compete with countries like China, American business owners must keep the cost of their products low. To keep prices low they must keep profits low. When you add additional taxes and other burdens that profit is gone. When there is no profit, there is no ability to hire more people. A million dollar a year business means nothing when the cost to do business is a million and a half.

 

Will Share The Wealth Help At All?

Maybe in a very short term. People that receive the benefits of this wealth distribution will have a nicer holiday season this year. However, come 2011 they will be facing the same economic hardships they are now. The only solution to the problem is job creation, not wealth distribution. If you remove the wealth from all the business owners who will be left to create jobs? The answer is scary because it is the government. And if the government controls all the jobs we will have entered into a socialistic society. Share the wealth will not work, nor should it even be considered.

Related posts:

1. Business: UPS Earnings Per Share Climbed 37% In First Quarter
2. Unemployment, Economy, Deficit, One Solution: Cut Taxes For Everyone
3. Obama Proposes Small Business Tax Credit To Over 1 Million Businesses
4. Small Business: Economic Survey Shows Owners Have Deep Uncertainty
5. Unemployment And Economy: Why Reps. Don’t Like Obama’s New Plan