Dr. Paul Price of Beating Buffett on the coming Election. Paul supports Romney, and, in this essay, explains why. ~ Ilene
2012’s Election – A Referendum on Government Size and Debt
We often hear the phrase, “Without good health, you have nothing.” That’s usually applied to individuals. This Tuesday’s vote will decide whether America can maintain its economic health.
Too much debt can bankrupt companies and countries alike. President Obama has already added more than $4 trillion to our national debt. He has no desire to cut America’s greater than $16 trillion federal deficit. His advisors believe that ever more government spending is the way to go.
Greece, Spain Ireland, Portugal and Italy can barely meet payroll even after dramatic increases in their VAT and income tax rates. Class warfare and riots in the streets are now regular events. We have seen our future if we continue down that path.
America spends more on defense than the most of the rest of the world combined. We cannot afford to be, nor should we be, policemen of the world anymore. End all foreign wars and bring our soldiers home.
Votes are being split by pocketbook issues. Those who pay little or no federal income taxes see government spending as ‘all good’. Democracy in America and elsewhere has come down to… Two wolves and a lamb voting on ‘What to have for dinner.’
The result of that vote will always be the same. That doesn’t make it good for society or even a moral choice. This election may well be the last chance to prevent a solid majority of voters becoming wolves that only care about electing the candidate who promises to feed them the most scrumptious meal.
Voters for Obama seek benefits from a system designed to redistribute existing wealth rather than creating new wealth. Fed QE policy (money printing) and ZIRP (zero interest rate policy) punish savers and investors, the most productive members of society.
Romney plans to stop the attacks on those who strive for the American Dream and live prudently. He is a deeply religious man who will continue taking care of the truly needy.
Tomorrow’s election is a chance to vote for ‘what’s good for America’ versus what might simply help you personally (if you are not at the high end of the income distribution).
Increasing taxes has never been proven to collect more money. Since the 1950s top marginal rates varied from 94% to 28%. Federal taxes paid as a percentage of GDP have fallen into a tight range of about 16% – 20% despite that widely disparate marginal tax rate.
No amount of revenues collected will ever be enough for politicians that endorse permanent deficit spending. After four years of the largest deficits since WWII we know that re-election of President Obama would lead to fiscal ruin.
As stated in my first sentence…Without financial health, the USA will have nothing.
