What's wrong with the wealthy

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President Obama last night said too much money had been transferred into the hands of the wealthy. That's funny I thought they had earned it. Oh, yes, there are some like his darling Ted Kennedy who have inherited it, but most wealthy people in America have earned it. They have created something or innovated something that has created a new product or service. The wealthy give us our jobs and create the conveniences of our way of life. I am not jealous I do not resent anyone's success.

The question about wealth in the hands of wealthy is what do they do with it. If they invested legally and ethically, that stimulates the economy and creates jobs. If they use it for eleemosynary reason, people's lives are improved. If they purchase a corporate jet it employs hundreds, maybe thousands of people to make that jet, plus many more who work in the industries that support it. Oh, yes there is the occasional wealthy person who is greedy; unfortunately, many people suffer from that greed so laws are needed.

But if we don't put money in the hands of the people where is it going to go. Senator Obama told Joe the plumber that he "was going to spread the wealth around." Does that mean he is going to give it to people who have not earned? What makes us think that non-productive people will be productive if you give them money? History and common experience show they want. The other alternative is to give it to government. What do you think they are going to do with it?

The last 3 stimuli have failed. Money in the hands of the government weakens the economy. Remember what Maggie Thatcher said, "the problem with socialism is that you eventually run out of other people's money. " Wealthy people produce more money for us. They spread the wealth around. The government keeps it for themselves or gives it to the non-productive. This is why Obama will fail and why his programs will fail.

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