I have been hearing a lot of concern lately about the massive debt being built up by the Obama administration.
Thinking about this, here is my answer. I did not hear a lot of concern about the debt built up by the Bush administration - more than all the other Presidencies that had gone before him combined!! And this was after he had been handed the biggest surplus ever, in the history of the US!! By the Clinton administration.
George Bush then proceeded to not only give it away but put us further in debt than any other President, by far. He began by buying the Presidency. How? Well if you remember, Clinton had built up a big surplus, he then planned to have by 2010 zero debt!! And left in place a plan to do just that - we should have no National Debt by now if that plan had been followed.
Instead Bush started out by saying, "If you vote for me, I will give everyone $600.00". (How would you feel if I said, "Vote for me and I will give everyone $5,000.00" Do you think I would be voted in?) Well it JUST worked for Bush, even paying everyone $600.00 he barely scraped in. In fact I'm still not sure that he did! Then he proceeded to give tax cuts to all his rich buddies. As I have said before, if the rich got a 1.3 TRILLION dollar tax cut, where does that money come from? We still have to pay for everything. Well guess what, it comes from us - you and me - us poor suckers have to pay it. If the rich dudes don't pay it someone else does, and that someone is us poor folks.
Now Obama is trying to bail us out. And getting no help. Cutting taxes and giving everyone $600.00 checks is an easy way to be popular. Straightening out the idiots treatment of our economy is hard to do and still be everyones friend. Bush encouraged greed, theft, and criminal treatment of all of us by the big banks and wall street.
I am a big believer in taxing rich people. There is no way that what Tiger Woods does for example is worth 2,000 times what I do!! (He makes $100 million dollars a year, I don't even make $50,000) Is that right? Is one banker or wall street criminal worth $5 million or $50 million or even $500 million dollars? Yes, some make that much and even more! Some people might say, "Good luck to him, this is America, blaa bla blaa." But I don't think they realize that that $50 million dollars or $500 million dollars doesn't just come out of thin air. It comes from us! Yes that's right, it comes from you and me, straight out of your pocket. If he didn't have it, we would still have it. The spread of income is higher in the US than anywhere else. The difference between the richest and the poorest is bigger here than anywhere else in the world. In my opinion there is no way that these thieves should be making these ridiculous sums of money.
When I started work some of my bosses made TWICE as much money as I did! I hoped one day to reach such an elevated position! The average CEO 30 years ago made 30 times as much as their average employee. Today the average CEO makes 300 times as much as their average employee. Disgusting. I would change the tax laws dramatically if I had my way. It would still be possible to earn more than the next person by working harder or longer or smarter, but not to the ridiculous extent that we have now. Certainly by the time anyones income reaches a million dollars a year, and maybe earlier, they should be paying 98% tax on anything they earn over a million. There is no way that anyone deserves a private jet, a private yacht, a huge mansion, or several mansions, while there are people in this country that don't have enough to eat, can't afford to take their sick children to a doctor, don't have a home to live in, can't get a job, and so on.
Just my opinion. It's also my opinion that is not Socialism. Common sense maybe, but not Socialism. But if it is Socialism then Socialism is better than Capitalism - the kind of Capitalism that we have here now anyway. I think that Capitalism is the best system - the problem is the Capitalists! What we have here in America now are not true Capitalists. They are a bunch of greedy thieves and criminals.
It is also my opinion that true wealth comes from work. We get wealth from work, that is one reason America is so rich, because we have hard workers. When you dig things up and make stuff out of it like iron and aluminum and build cars and refrigerators and silverware and grow things to make clothing and food, you create wealth. Bankers, wall street types and others of that ilk, create nothing. They just take what others built. What they do has no worth at all.
Again, just my opinion.