Posted by
Daena Hinkelman on Tuesday, October 21, 2008 1:51:19 PM
I couldn’t make up my mind how I felt about the bailout. Checking with friends who have strong backgrounds in economics and getting a copy of the bill from a local congressional office after it passed has helped a little.
It helped me understand better what was going on, but I got divergent views. The congressman who provided the bill voted against both bills. He told me that a majority of his constituents had chosen the smaller home or car so they didn’t have big payments. They didn’t want to do without while at the same time paying for someone who didn’t pay attention to finances. In short they didn’t want to pay for anyone who didn’t act responsibly. Two friends who are more into the market had opposite views. One said he knew businessmen who were in danger of losing their companies because of the current banking problems. That brought to mind a game that was at the Museum of Science & Industry in Chicago until recent remodeling. The marketing component (which I always won) made the point that the biggest reason for business failures was under capitalization. Hmmmm. Even companies that have been in business for a long time and seem to be doing fine can go under when they try to expand. The reasons are many but can include a market downturn or a misreading of the market.
Still the more I studied the issue; the more I agreed with the Congressman. Even those people who lost their homes or business for reasons beyond their control such as illness shouldn’t be forced to pay for those people who over extended themselves. That’s not fair. They need time for a breather and to enjoy their newfound success.
Let’s take just one everyday “Joe”. Let’s call him Joe the Plumber. (Although in fairness to Joe Wurzelbacher he never said he was a plumber. He said he was hoping to buy a plumbing business, which he works for.) He had a question, and the media has been after him ever since. They’ve invaded his personal life like ants on a sugar hill all the while ignoring the real point--Barack Obama’s response to Joe’s questions. (Yes, we’ll raise your taxes, but we just want to spread the wealth.) If Joe bought the business and it earned over $250,000 a year, it didn’t seem fair to pay higher taxes. After all he’d worked long, hard hours to achieve his dream. Joe as it turns out lived on welfare until his family could get back on its feet financially. So he was not born with a silver spoon in his mouth. He got his money the old-fashioned way. He earned it. He lives humbly; not beyond his means and he saves his money. Gosh does that sound familiar.
It all comes down to this. Assuming you’ve earned your money legitimately (not selling drugs or running scotch), you have a right to spend it as you wish, not as the government wishes. It’s your money. Hopefully, you’ll contribute your fair share to the less fortunate, but that should be a private decision between you and God. The money you have is your part of the American dream. Most people who have that money have it because they’ve worked long hard hours, done without and saved. They get to decide what they do with their money.
We pay our bills and have never lived extravagantly. We are living the American dream because we’ve always been careful with money. We don’t spend what we don’t have (and often don’t spend what we do have). We are trying to help our kids live the American dream too. Doing the same thing our parents did with us; helping them through the rough patches. Could it all go awry? Possibly.
If Barack Obama has his way and spreads the wealth around, we could end up in the poor house and drag our kids down with us. And, we’d all be on the government dole and live in the Socialist States of America. Wouldn’t that be fun?
Is the water hot enough for you yet?