Now there is no doubt why we are in an economic disaster - the clown steering this ship of state knows nothing at all about steering a Go-Kart let alone a ship.
Yesterday he told a crowd that he believes in "middle out and bottom up economics." That's like believing in Santa Clause and the Tooth Fairy - it doesn't exist, and cannot exist.
Certainly, a healthy economy requires a healthy middle class. But why doesn't that idiot stop to think about what it is that MAKES the middle class healthy?
It's JOBS, and SALARIES. And where do jobs and salaries come from? The top. Even government jobs and salaries come from the top because they are paid via taxes, and every penny of tax comes from the top 50%
Obama and other Marxists believe that if the wealth is in the hands of the middle or lower classes, that will make the economy work. But that is where they stop thinking. They never bother to ask where that wealth will COME from in the first place. They do not understand that wealth is not money - money is but a representation of wealth, like poker chips. Wealth is products and services - stuff!
Wealth can only be created by creating products or providing services. If you are not doing that, you are not creating wealth. Instead, you are only moving the wealth around, which only simulates wealth creation, but is not wealth creation.
The short take - when you build something, you have ADDED something to the economy. If you build nothing, you add nothing. When the government takes from the rich (via taxes) and gives to the lower classes (various welfare and entitlements), nothing is created - the money is just being moved. And the wealth is STILL coming from the top. Trickle down economics. This was the basis of economist Milton Friedman's work that earned him the Nobel Prize in Economics.
But Obama does not care. He thinks he's smarter than EVERYONE. In reality, he is actually pretty ignorant if he does not even understand that you cannot create wealth by simply moving it around.
Most of us learned that in Kindergarten. If you have 2 apples and Joey has none, and you give Joey one of your apples, how many apples do you have left? But the real question that is implied is, "How many apples are still there?" No matter how you divvy up the apples, the number of apples remains the same - nothing added to the "pool" of apples. No wealth created. The apples get eaten, or rot, and then there are none. Not for you, not for Joey.
But again, Obama does not care. All he sees is that both you and Joey have one apple. That's "fair". But what happens if no one is growing more apples? You and Joey eat yours, or they eventually rot. They need to be replaced to keep you from going hungry. Products and services need to keep being created or the economy stagnates and dies.
But who grows the apples? People who are wealthy enough to own land, equipment, pay salaries and marketing costs. THAT is where the wealth is coming from.
So, our economy is sick, and if we do not get someone qualified to steer this ship soon, it could die altogether, as is happening throughout Europe and Greece.
If you want a strong middle class, we need to let the rich do what only the rich can do - create products, which creates jobs, which creates salaries and a strong middle class. The government CANNOT do that because all of THEIR wealth is taken from the people, not created by creating goods and services.
Obama tells us that the rich are the enemy of the middle class, which is so absurd! The rich CREATE the middle class, and NEED the middle class.Bill Gates of Microsoft only makes money if he has people working for him and paying them. Do you really think he is out to destroy the very people he relies on to make Microsoft work? But that is the screwy logic Obama uses - he needs you to believe the rich are the enemy because he needs your fear to guide you to vote for Obama in November.
The rich create the wealth. The government can only shuffle it around, and in doing so, stifles the creation of wealth by taking away the money that the wealth creators need for creating ever more products and services.
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