Monday, January 02, 2012

Prosperity? Many don't know what it means.

We are living in an age when we're all supposed to be the same. You know, equality, no child left behind, and all that stuff. Prosperity? What's that? Occupy Wall Street? Oh yeah, that's supposed to be us against the rich guys.

I'm not going to defend the big shots who take without any consideration for those who make it possible for them. Fannie Mae and Freddie Mac come to mind. They're bust yet their execs are eligible for enormous bonuses. What's wrong with this picture.

On the other hand, we have locales such as Hong Kong. Where's that and what do they have to do with us? For one thing, they're prosperous. And the young people of this nation of ours should begin to understand what prosperity is.

Leading up to World War II, during and after the war, the United States was the world's bank. Why? Because people who had any money at all wanted to put it where it was safe and would bring them a return on their investment. And the place to put their/our money was in the U.S. That's all changed now. Why? Let's look at Hong Kong, the "vatican of economic liberty."

The top individual and corporate income tax rates here in the U.S. are 35% on taxes on capital gains, dividends and profits on overseas investment. It also applies to when you die. How does this compare to a vibratant economy such as Hong Kong?

The top tax rate there is two fold: 17% minus deductions or 15% of gross incoome, which is lower. That's right, lower, not higher. Guess what else? No sales tax.

The current occupant of the White House and his minions in the media would have you believe that government spending is the way to prosperity. Creating government jobs is the way of the future. Don't believe it. Their so-called "Jobs Bill" is a scam. Should they be successful in raising the debt limit even more you know who will benefit. Their voter "base." Do you know who their base is?

Nobody will say it. It's like John the Baptist in the desert. Whoever says it gets their head cut off. Protected by free speech, dare I say, in my opinion, those who benefit are unions, blacks, radical feminists, leftists, communists, socialists, gays et al. Have I missed anyone here. Oh yes, left-leaning Democrats. In other words its a crafted attempt to make a majority out of minorities. And the fact that Obama is in the White House would tell me its worked.

I appeal to the youth of this nation and those of independent mind to use their wisdom and vote to begin the return of prosperity to everyone in the nation. And, yes, to those mentioned who are currently the Obama base. We must take a non-governmental path. Look to Hong Kong to see how America could be, how we once were.

No comments: