According to Harvard law professor Elizabeth Warren, nobody gets rich on their own. Hot on the campaign trail for the 2012 Massachusetts senate, Ms. Warren waxed rambunctious about an imaginary rich factory owner who apparently isn't grateful for the vital role government plays in their wealth creation. She vigorously explains how government built the roads, provided the employee education, and paid for the police and fire services used by the factory owner to grow his business. Near the end of this stern lecture, Ms. Warren reminds the factory owner of his social contract necessitating government’s long arm into his back pocket.
It's bad enough this arrogant line of thinking infects Harvard's student body on a daily basis, but Ms. Warren is a key player in the upper echelon of Democratic public policy decisions.
Thursday, September 22, 2011
Monday, September 19, 2011
Warren and the Receptionist
Warren Buffett’s musings on the inherent unfairness of his small federal tax bill primes the pump for our main stream media’s preconceived storyline that a burgeoning national debt should be partially addressed via tax increases on greedy rich people. Among other comments Mr. Buffet’s made on the subject includes this half-truth, “The 400 richest of us pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you're in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.”
Mr. Buffett’s statement seems fair enough. When you are super rich while others struggle to make ends meet, paying a lower tax rate than your secretary does seem pretty appalling.
Mr. Buffett’s statement seems fair enough. When you are super rich while others struggle to make ends meet, paying a lower tax rate than your secretary does seem pretty appalling.
Wednesday, September 14, 2011
Social Security and Charles Ponzi
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No doubt you have heard the uproar over Gov. Rick Perry’s assertion that Social Security operates much like a Ponzi scheme. Perry’s attempt to discuss the “third rail of American politics” once again thrusts the program’s solvency before the American electorate. True to form, rather than sparking honest debate, Perry’s comments elicited immediate scorn and mocking from liberal ideologues bent on preserving this longstanding entitlement program rather than dealing truthfully with its present predicament.
No doubt you have heard the uproar over Gov. Rick Perry’s assertion that Social Security operates much like a Ponzi scheme. Perry’s attempt to discuss the “third rail of American politics” once again thrusts the program’s solvency before the American electorate. True to form, rather than sparking honest debate, Perry’s comments elicited immediate scorn and mocking from liberal ideologues bent on preserving this longstanding entitlement program rather than dealing truthfully with its present predicament.
Thursday, September 1, 2011
Celebrate Risk Taking and Change Your Life
How many of you drive home from work wishing your day job was something other than what you just spent the last eight hours working on? Why do those lingering thoughts never motivate you in a new direction? What prevents you from taking that leap of faith into the unknown in pursuit of your dream? Are you grudgingly satisfied just to collect a pay check every two weeks? There could be various reasons to play it safe, but one of the biggest motivating factors is an aversion to risk. With new ventures comes the possibility of failure. Failure in business usually means substantial loss of income, reputation, and downsizing of lifestyle and so you play it safe.
Over the past few weeks I’ve been chatting with several friends about how much I love writing on current events and political issues. I’ve been bemoaning not figuring this out twenty years earlier at the ripe age of eighteen. I could have majored in journalism or writing instead of accounting and, my theory goes, be spending more time doing what I really want instead of moving from one dull spreadsheet to the next every day. The trouble is, I have never considered myself an entrepreneur or somebody excited by the thought of ‘starting over’ in my late thirties and so I balk. It’s daunting to consider the amount of time, energy, marketing, and money needed to turn this new obsession into anything other than just an every other day blog.
Isn’t this the picture of what America offers each of us? We all make decisions to press forward or remain secure in the background. America remains the land of opportunity, but we often must move beyond the risks to experience true fulfillment, both personal and monetary. So many times fear of failing stops people from living a happier life. Let’s face it, when you start a new business there are lots of things that can go wrong. Many fail in their first few years, and the ones that succeed often are not profitable for just as long. Such is the lot of the entrepreneur. Fortunately, there is need for both entrepreneur and average Joe to keep our economy humming. Each has a role to play.
Why then do those individuals who succeed get so much criticism heaped on them by the media, the left, and an ever larger share of the general public? The perception is rich people just wake up one morning rolling in their money. This is largely untrue. Many successful business owners toiled, borrowed, and sacrificed time with family and friends to get their ventures off the ground. Sure they might be out golfing several days a week now, but haven’t they earned it? We should celebrate their success not sit back in envy of it. If we are not willing to put ourselves out there and take big risks, we should not point fingers at those who do and succeed.
You have only one earthly life to live. If a dream keeps dancing in your head, take some chances and see where events take you. Pursue your passion with every fiber of your being. Work hard and see where the opportunities take you. And stop along the way to congratulate those who took chances before you and came out successful. Theirs is a story we should keep telling and keep repeating.
Over the past few weeks I’ve been chatting with several friends about how much I love writing on current events and political issues. I’ve been bemoaning not figuring this out twenty years earlier at the ripe age of eighteen. I could have majored in journalism or writing instead of accounting and, my theory goes, be spending more time doing what I really want instead of moving from one dull spreadsheet to the next every day. The trouble is, I have never considered myself an entrepreneur or somebody excited by the thought of ‘starting over’ in my late thirties and so I balk. It’s daunting to consider the amount of time, energy, marketing, and money needed to turn this new obsession into anything other than just an every other day blog.
Isn’t this the picture of what America offers each of us? We all make decisions to press forward or remain secure in the background. America remains the land of opportunity, but we often must move beyond the risks to experience true fulfillment, both personal and monetary. So many times fear of failing stops people from living a happier life. Let’s face it, when you start a new business there are lots of things that can go wrong. Many fail in their first few years, and the ones that succeed often are not profitable for just as long. Such is the lot of the entrepreneur. Fortunately, there is need for both entrepreneur and average Joe to keep our economy humming. Each has a role to play.
Why then do those individuals who succeed get so much criticism heaped on them by the media, the left, and an ever larger share of the general public? The perception is rich people just wake up one morning rolling in their money. This is largely untrue. Many successful business owners toiled, borrowed, and sacrificed time with family and friends to get their ventures off the ground. Sure they might be out golfing several days a week now, but haven’t they earned it? We should celebrate their success not sit back in envy of it. If we are not willing to put ourselves out there and take big risks, we should not point fingers at those who do and succeed.
You have only one earthly life to live. If a dream keeps dancing in your head, take some chances and see where events take you. Pursue your passion with every fiber of your being. Work hard and see where the opportunities take you. And stop along the way to congratulate those who took chances before you and came out successful. Theirs is a story we should keep telling and keep repeating.
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