Please Watch Tonight "Making Your Market" Fox Business 6 p.m.
While we heard how the only thing wrong in America, holding back the realization of Martin Luther King's "dream," is corporate greed and mean people not willing to pay more than 60% of their income to save crumbling schools (of course none of that extra tax money would go to study the sex life of an endangered salamander or diverted to organizations that are political fronts or pay unions or build a bridge to nowhere).
This war on business and sales pitch for a new America where nobody is rich not only scares me but also infuriates me even more. The message is always about how rich people are "fortunate" as in either lucky or nefarious but never hard workers, risk takers, and brilliant. We are being urged to scorn such success.
The guilt trip isn't going to work on individuals and even billionaires that declare intentions of giving it all away as they hold onto their wealth the most and even endeavor to make more until that fateful day. The real target is business ... finding a way to suck them dry.
The game plan is really simple, demonize to the point of universal animosity and then loot the company or industry dry.
Banks have spent $100.0 billion in legal fees but are still facing massive potential fines for things like accidents in foreclosing on deadbeats. How nuts is it that someone that hasn't paid their mortgage in years ends up getting a check from the bank because of one misstep in the foreclosure process. Banks have become piggy banks for this administration. So, too, British Petroleum, which has paid out so many erroneous claims in an effort to not be dragged through the mud from the public relations arm of the White House otherwise known as the mainstream media.
Policy & High Taxes
The structure of the American family has changed so dramatically it bodes poorly for society in general where a pipeline of people is needed to buy goods, starter homes, and infuse energy. It's the impact on children that's most worrisome.
According to Census Bureau research, households with at least one out-of-work parent exploded by a third from 2005 to 2011. It's a reflection of noncommittal men and welfare policies that destroy grass roots opportunities.
Men living alone age 15-64 surged from 23% to 34% while married couples without a child living at home plunged to 17% from 38%.
In addition to this social phenomenon, high taxed states have seen massive exodus of business and talent. The notion high taxes are needed to fund a "fair" society are so misguided and completely incorrect. On the contrary, these taxes drive out production and producers resulting in the state to hike taxes even more to meet the obligation an ever-growing welfare class. There goes the ladder of success. Of course, this seems to be the dream ... an elongated middle class where we all earn more or less the same without regard to skills, effort or commitment.
These states are in the top five highest state tax burdens and have experienced a 60%+ surge in number of homes with an unemployed parent (Hawaii 95% increase):
California tax burden 11.2%, New Jersey tax burden 12.4%, Connecticut tax burden 12.3% and Hawaii 10.1% may be too deep to ditch their welfare promises.
Nevada has a lower state tax burden of 8.2%, but big welfare promises where at least one unemployed parent has erupted by 148%.
The seeds are planted deep and uprooting them in this populist period is a Herculean challenge. But it must be done as that's what true compassion is really about.