Today I am puzzled by the recent comments from Obama that we are building the economy from the "middle out" and not from the "top down". This is confusing because where do the middle class work? Do they just start working at middle class wages and 'poof' we have an economy? I think not. The economy is built on small businesses. Most jobs are created by small businesses. The so called middle class got there by either working, gaining experience and earning wages commensurate with their skills or they started a small business and grew it to a size where they could take home a meaningful middle class wage. The so called top down approach means people of means invested in that entrepreneur and helped him get started and thus create the jobs for the middle class. There is no other way. The only way to create middle class employment other than "top down" is through government. Obama's soaring rhetoric is so predicatably government based that when he said "You didn't build that!", everyone knew what he meant. Especially when he prefaced the YDBT remark with "You think you worked so hard" or "you think you are so smart". His arrogance knows no bounds and his sense that government did or will build that is evidenced in his stump speech. He wants to recruit more teachers (government jobs), fix our crumbling infrastructure (government funded Union jobs), invest in education and research and development (government funded jobs) and renewable energy jobs (government funded and fading fast).
The government that President Obama wants to fund all these jobs has to get their money from somehwere else. Governments don't have any money. The only money government has is what they take in the form of taxes from someone else. The "top" income earners (top 10%) produce 70% of all the money the government takes in in revenue. Therefore the Obama plan IS "top down". You can spin it anyway you want but the government centric mind set of the Obama administration is the opposite of what he claims it is and by demonizing and trying to increase taxes on these job creators he is undermining and will destroy the engine that creats wealth, creates jobs and creates the revenue Obama so loves to spend. If he destroys the "TOP", where does the money come from?
The government that President Obama wants to fund all these jobs has to get their money from somehwere else. Governments don't have any money. The only money government has is what they take in the form of taxes from someone else. The "top" income earners (top 10%) produce 70% of all the money the government takes in in revenue. Therefore the Obama plan IS "top down". You can spin it anyway you want but the government centric mind set of the Obama administration is the opposite of what he claims it is and by demonizing and trying to increase taxes on these job creators he is undermining and will destroy the engine that creats wealth, creates jobs and creates the revenue Obama so loves to spend. If he destroys the "TOP", where does the money come from?
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