Connect with us

Business

Don’t Tax the Rich . . . Thank Them

Published

on

The rich often get a bum rap. Liberals are incensed when it is suggested that “the rich” get any type of tax reduction even though the top 50% of wage earners pay 96% of all income taxes. Since they spend more money, the rich also pay a disproportionate amount in sales, property, entertainment, and excise taxes. Without the rich, most people would not have jobs. Poor people don’t create jobs. Governments create jobs by force. The rich create jobs by creating things people want.
The first computer my company purchased in mid-1985 cost $7500. It was huge and could only perform a few simple tasks, mostly word processing. The floppy disks were the size of dinner plates and held very little data (360K). Almost overnight, computer prices dropped and performance levels increased dramatically. The IBM PC was born.
The first high performance portable computer was built by Compaq, and it was the size of a sewing machine, but it was a vast improvement over what was then available. The hard disk capacity was 10 megabytes. Today’s laptops have multi-gigabyte drives (terabyte drives are available and needed for backup), super thin monitors, built-in modems, CD/DVD drives that can play music and movies, and much more, all in a 2 to 4 pound package that can be carried and used when you travel.
The first cell phones were the size of a small suitcase. You needed a shoulder strap to carry it. It didn’t take long before the back-pack cell phone became the size of a brick. Now they are smaller than a half-pack of cigarettes and can do extraordinary work that wasn’t even conceived of ten years ago. They are so cheap to own and operate that many people have given up using conventional (land-line) phone service.
What made these performance gains and price reductions possible? People with lots of money purchased the first high-priced machines. They had the financial ability to lay out “excess” capital for what most people would consider luxury items. What used to be luxury devices are now so cheap that even homeless people can afford them.
The research and development costs of any new technology are enormous. That’s why the initial entry of new products into the market is expensive. But over time, when costs are recouped and production increases, costs and prices fall. The first CD players cost hundreds of dollars. They now sell for under $10, if you even need one. Today, music can be purchased online and stored on a device that can hold thousands of songs. DVD players sell for under $50, and the newly developed Blu-ray players are rapidly coming down in price from an initial market price of nearly $1000 that only people with lots of discretionary money were willing to pay. The spending by rich people fueled the market for future goods at lower prices which benefits everybody.
Slamming the rich by contending that they should pay more in taxes to equalize income is the sin of envy. Envy is not the same as jealousy or covetousness. The covetous person says, “I wish I had what he has, and I’m miserable that I don’t have it.” Envy is quantitatively different.  The envier thinks to himself and votes accordingly: “I’d like to have what he has, but I know I can never get it. Nobody should be allowed to have it or at least that much of it. If I can’t have it, neither should anyone, and if I can’t make this happen, I’ll make sure it costs him a lot of money to own it. I’ll work to destroy people who can afford these things. Maybe I can get the government to make it illegal to own or too expensive to keep.” This is why the Bible describes envy as “rottenness of the bones” (Prov. 14:30).
Societies that struggle to exist economically are infected with envy. Prosperity in others infuriates the envier and moves him to destroy what he does not have and will not work to get. Western enviers are sophisticated. Enviers in civilized societies don’t burn a villager’s crops or sabotage his wells. They run for political office or vote for those who do so they can stick it to the rich in the name of “tax fairness” and “social justice.” The long-term result is the destruction of the prosperous man’s ability and incentive to create wealth. In the end, the destroyed crops, the poisoned well, the high taxes hurt all of us. With no discretionary capital, there is no one to buy those initially expensive goods that make life easier for all of us. So, instead of envying the rich man, thank him and work to be like him.
Cain was the first envier. He could have offered a sacrifice equal to that of Abel or offered a sacrifice that was from a pure heart. Instead, he murdered his brother because of his success. It didn’t make Cain any more successful, but I suppose, for the moment, the act gave him satisfaction. Envy appears again in the book of Genesis when the Philistines envied the prosperity of Isaac:

Now Isaac sowed in that land, and reaped in the same year a hundredfold. And the Lord blessed him, and the man became rich, and continued to grow richer until he became very wealthy; for he had possessions of flocks and herds and a great household, so that the Philistines envied him. Now all the wells which his father’s servants had dug in the days of Abraham his father, the Philistines stopped up by filling them with earth (Gen. 26:12–15).

The Philistines could have dug their own wells and inquired of Isaac to learn the methods of success. Instead, they destroyed his property to bring him down to their standard of living. Of course, with Isaac’s wells sabotaged, a drought would affect Isaac and the Philistines equally. But enviers don’t think ahead. They only care about dragging the successful down to their level of incompetence.
Modern-day economic theory feeds off the sin of envy. The first step is to promise the citizenry that they will get some of the largess of the rich. When that only goes so far, legislators will make it more difficult for the prosperous to remain prosperous. Obstacles will be put up to stifle their success, all in the name of equality. We’ve seen it happen before. The Communists had to build a wall around East Berlin to keep the industrious from fleeing the politics of envy.

Don't forget to Like The Washington Sentinel on Facebook and Twitter, and visit our friends at The Republican Legion.

Become an insider!

Sign up for the free Washington Sentinel email newsletter, and we'll make sure to keep you in the loop.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Seattle Business Owner Announces Move to Texas so His Employees Can Live Free

A businessman has announced that he is moving his billion-dollar company away from the West Coast and down to Texas.

Published

on

A businessman has announced that he is moving his billion-dollar company away from the West Coast and down to Texas because the coast stands firmly against the business sector not to mention stifles freedoms of all sorts.

Peter Rex, the founder and CEO of Rex Teams, a tech, investment and real-estate firm, was once based in San Francisco. Then, when California became inhospitable, Rex moved his company to Seattle. But that also proved a mistake.

Now Rex says that he is moving his company to Austin, Texas, because his is done with the West Coast.

“We tried San Francisco. We tried the Seattle area. Both were wonderful in their own ways, especially in natural beauty and personal friendships. But both have become hostile to the principles and policies that enable people to live abundantly in the broadest sense,” Rex wrote in an op-ed published by the Wall Street Journal.

After noting that he is headed to Texas, Rex added “By the end of the year, I hope to move dozens of employees to the Lone Star State and to be ready to hire hundreds more.”

“While uprooting a big part of a billion-dollar company isn’t easy, the decision to move to Texas wasn’t hard. Our staff and their families will be able to flourish to a much greater extent,” he said.

Rex admitted that there is a large pool of possible employees in the tech industry in Seattle and San Francisco. The the bad outweighs the good.

“But the best places to be in tech have now become some of the worst places to raise a family, practice a faith, or even think freely. This hurts my team and the business,” he lamented.

Rex then made a most obvious statement.

“These areas are culturally diverse but increasingly monolithic in terms of ideology,” he wrote. That seems to be stating the obvious, doesn’t it?

Rex concluded by noting that the Seattle CHOP zone and the violent riots that wracked the city was about his final straw.

“The mood in the area was that this experiment in anarchy was acceptable and even praiseworthy. Seattle Mayor Jenny Durkan even issued a statement commending the ‘First Amendment activities’ of the occupiers,” he wrote.

That wasn’t the only problem. He went on to note that the West Coast was hostile to religion, bad for families, impossibly expensive for home ownership, hostile to freedom of speech and freedom to chose one’s own politics, and seriously inimical to businesses.

Rex concluded saying:

That’s why we’re leaving the West Coast and heading to Texas. When it comes to talent, we’re confident we can attract the best without finding the same homogeneity of views. When it comes to housing, families making $100,000 to $200,000 a year can afford a good-size place. The policy environment in Texas encourages risk-taking and rewards workers. When it comes to schools, there are plenty of great options that don’t confuse indoctrination with education. And on matters of faith and morals, religious belief doesn’t make you a social outcast. In Texas, the quintessential American ideals of family, faith and freedom still reign supreme.

Will it be tough to make this move? You bet. But heading to Texas is the right thing to do for my team and their families, and their outpouring of support has been telling. They want to be in a place where they can live to the fullest extent. And I’m convinced that the sooner they are, the stronger the company will be.

Exactly right!

Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston.

Continue Reading

Business

Black Business Owner Sobs as His Business is Burned to the Ground by Minneapolis Rioters

A black business owner and firefighter was left sobbing when the Minneapolis Black Lives Matter rioters burned his small business.

Published

on

A black business owner and former firefighter was left sobbing when the Minneapolis Black Lives Matter rioters burned the small business that he worked himself to the bone to create.

“I don’t know what I’m gonna do, I worked so hard to get here, so hard,” businessman Kb Balla told the media.

A GoFundMe page was set up to help Balla and his wife, Twyana, recoup their disheartening loss.

“Scores Sports Bar was set for a grand opening this spring but when COVID-19 hit that was put on pause,” the page tells visitors. “Now, just as Scores was gearing up to welcome customers with updated guidelines from the governor, George Floyd was murdered, and everything changed overnight.”

“Scores Sports Bar was LOOTED, VANDALIZED and DESTROYED 5/27/2020. This black-owned business is left trying to pick up the pieces amidst mourning with the community,” the page laments.

“About the Bar Owners: Kb Balla & his wife Twyana are active members of their community,” the page reports. “KB is a Firefighter on the Brooklyn Center Fire Department and Twyana was a member of the Sounds of Blackness. They have a four beautiful children, and the toll of this entire situation is heavy. KB has been a community entrepreneur for decades and coaches and contributes to the community in which they live.”

This is the foolishness of these rioters.

There ARE NOT “freedom fighters. ” These ATE NOT “protesters for their rights.” These are lawless rioters.

Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston.

Continue Reading

Business

Wendy’s Haunted by ‘Where’s the Beef’ Slogan as Burgers Dropped from Menu

Social media users were furious!

Published

on

The Wendy’s fast food franchise has long been unique, particularly in the world of drive thru restaurants.

First, there are the square burgers.  If you ask a well-trained Wendy’s employee why their sandwiches feature the untraditional shape, they should respond that founder Dave Thomas “doesn’t cut corners”.

Hardy har har.

Secondly, Wendy’s was the first major chain to advertise that their beef was “fresh, never frozen” – a distinction that has now become the industry standard.  The advertising campaign they utilized to tell customers about the superiority of their protein included the tagline “where’s the beef?”, often accompanied by an image of a heavily-chilled employee of another restaurant digging around in the store’s freezer.

Today, however, “where’s the beef?” has an entirely new connotation.

With meat shortages roiling the U.S., some Wendy’s Co. restaurants have taken burgers — their hallmark item — off the menu.

Customers have taken to Twitter to complain they couldn’t order burgers from the restaurant, which touts its beef as fresh and never frozen in its marketing.

A check on Wendy’s app showed that only chicken items were available for takeout or delivery orders from at least some of its stores in California. The situation has prompted a number of customers to ask “Where’s the beef?” on social media, invoking a Wendy’s catch phrase from the 1980s that poked fun of the small burgers sold by other chains.

North America’s meat-supply chain has fallen apart as outbreaks shutter slaughterhouses, heightening the prospect that pork, beef and chicken may go missing from grocery shelves and restaurant menus. About a dozen slaughterhouses shut last month because of infections among employees jammed together on processing lines.

And while the situation may appear dire on paper, meatpacking companies such as Tyson Foods have indicated that selection and pricing may vary in the coming weeks, but that Americans will not suffer any sort fo cataclysmic meat shortage…just so long as virus-panicked individuals don’t start hoarding supplies like they did with toilet paper.

 

Continue Reading

Business

Report: ‘More Than 40%’ Of Small Businesses May Close In The Next Six Months

Published

on

By

The coronavirus is expected to permanently shut millions of small businesses in the next several months.

“It’s a crisis that will impact our economy for generations,” said Amanda Ballantyne, executive director of Main Street Alliance, an advocacy group for small business. “We’re going to lose so much of the small-business sector.”

If you’re afraid of the virus, stay home. Let the rest of us return to work!

TDW:

In addition to record unemployment numbers, experts now predict that a “wave” of small business bankruptcies is on the horizon — and it could leave the United States with 40% fewer small businesses.

The New York Times reports that the United States Chamber of Commerce estimates “more than 40 percent of the nation’s 30 million small businesses could close permanently in the next six months” — a statistic entirely attributable to the coronavirus pandemic and ensuing lockdowns.

The economic consequences of such a mass business failure could last for “generations,” the NYT reports.

“Commercial bankruptcies in the first quarter of 2020 ticked up 4 percent from a year earlier, according to data from the American Bankruptcy Institute,” according to the NYT. “But many of those filings were made before the pandemic, when the economy was healthy. Right now, some owners are waiting to find out if they will receive federal stimulus aid before deciding whether to file for bankruptcy protection.”

Restaurants and retail services are, of course, the most vulnerable, but family-owned enterprises, like heating and cooling operations and plumbing companies, and even health-care services, particularly small dental and pediatric practices, are in severe danger.  More

And yet the MSM continues to perpetuate nothing but fear. They are as much to blame as the governors.

I’m so sick of only hearing about the number of deaths. Let’s hear about the survival rate or about the huge number of people that have probably already had the virus without any symptoms. Stop the fear-mongering and let’s get on with life!

Continue Reading

Business

Now Banks To Deny Business Financing to Companies with All-White Male Boardmembers

The leftists in our financial sector are now saying that they will stop financing businesses that have all white, male boards.

Published

on

The leftists in our financial sector are taking another step toward the anti-American extreme, this time saying that they will stop financing businesses that have all white, male boards.

Since when is social engineering the business of banks?

The newest directive was issued by Goldman Sachs CEO David Solomon on Thursday during an interview on CNBC.

Solomon said that as of July 1 in the U.S. and Europe, Goldman Sachs “is not going to take a company public unless there is at least one diverse board candidate, with a focus on women.”

“Diversity on boards is a very, very important issue, and we’ve been very, very focused on it and so we’re trying to find ways to encourage that,” Solomon said.

“This is a small step, but it’s a step in the direction of saying, ‘You know what? We think this is right. We think it’s the right advice,'” Solomon added.

Solomon went on to extol his leftist ideology saying that he imagines there are “significant financial incentives” for companies to get rid of those terrible, evil white men.

He claimed that his experiences at Goldman proves his leftist assertions.

“We have four women out of 11, we have a black lead director. I really value the diverse perspectives I’m getting, which are helping me on the company,” he said.

“Over the last four years, the performance of IPOs where there’s been a woman on the board in the U.S. is significantly better than the performance of IPOs where there hasn’t been a woman on the board,” Solomon concluded.

Once again, how is it the financial sector’s business to conduct social engineering on our society?

Follow Warner Todd Huston on facebook.com/Warner.Todd.Huston. And be sure and check out our great products at RepublicanLegion.com.

Continue Reading

Business

Alaska Gov. Moves to Dump Goldman Sachs after Bank’s Oil Divestment Scheme

Goldman Sachs recently began eliminating investments in fossil fuel companies, but the move spurred Alaska to retaliate by cutting its own ties with the bank.

Published

on

Banking giant Goldman Sachs recently began eliminating its investments in fossil fuel companies, but the move has now spurred Alaska to retaliate by cutting its own ties with the bank.

Last week, Goldman Sachs announced that it intended to stop financing new oil exploration in the Arctic as part of its gradual move to eliminate investments in fossil fuels.

But Alaska’s Republican Governor, Mike Dunleavy, was less than thrilled with the big bank’s move.

Dunleavy said that he is directing the state to begin eliminating Goldman Sachs from its own investment plans over the bank’s divestment of one of the state’s most important resources: oil.

“In response to Goldman’s pledge, the governor’s office has directed the review and where possible without financial or progress impairment, the removal of Goldman from business relations with the state,” acting Revenue Commissioner Mike Barnhill wrote in a Friday letter to Goldman’s CEO, according to the Anchorage Daily News.

Dunleavy also said he had “serious reservations” about working with a bank that did not have the best interests of Alaskans in mind.

“I think it’s part of my role to advocate on behalf of Alaska,” Dunleavy added.

It’s about time someone with a little power began striking back at this left-wing bullcrap being perpetrated by so many large corporations groveling at the feet of the far left.

So, after Goldman’s announcement of its anti-oil direction, Alaska began removing the bank from its list of participating banking institutions.

Dunleavy said that Alaska may take similar actions about doing business with any other company that pushes far left nonsense and PCism disguised as company policy.

“There may be other outfits that we do business with … that may be working against our goals,” the gov. added.

Follow Warner Todd Huston on facebook.com/Warner.Todd.Huston.

Continue Reading

Business

Cyber Monday Hits Record $9.2 Billion in Sales

After Thanksgiving Day, America saw a huge $9.2 billion record in sales on Cyber Monday.

Published

on

If Americans are dour about the country ahead of the 2020 election, you sure wouldn’t be able to tell it with the huge $9.2 billion record in sales on Cyber Monday.

The final day of the Thanksgiving holiday season found Internet sales at 17 percent higher than the amount in 2018, which was itself a record.

According to Breitbart News, there are some changing statistics with online shopping:

Online shopping is changing. About one-third of sales took place on mobile devices this year and the peak hour for shopping was much later than in years past, according to Adobe. In the past, people tended to shop during the workday, taking advantage of high-speed internet connections at their place of employment. This year around half of Cyber Monday sales came after traditional work hours, with sales peaking around 11 P.M. eastern time, according to Adobe.

“The data comes from a realtime analysis from Adobe Analytics and is based on web transactions of 80 of the top 100 internet retailers in the U.S.,” Breitbart added.

As Cyber Monday sales rose, sales over the Internet even jumped during Black Friday when Americans traditionally surge out to the brick-and-mortar stores. Tech Crunch noted that online sales jumped to $7.4 billion on Black Friday this year. This was $1.2 billion higher than online sales during 2018’s Black Friday shopping day.

Popular products this year included Frozen 2 toys, L.O.L Surprise, and Paw Patrol. Best-selling video games included FIFA 20, Madden 20, and Nintendo Switch. And top electronics, meanwhile, included Apple Laptops, Airpods, and Samsung TVs.

“With Christmas now rapidly approaching, consumers increasingly jumped on their phones rather than standing in line,” said Taylor Schreiner, Principal Analyst & Head of Adobe Digital Insights. “Even when shoppers went to stores, they were now buying nearly 41% more online before going to the store to pick up. As such, mobile represents a growing opportunity for smaller businesses to extend the support they see from consumers buying locally in-store on Small Business Saturday to the rest of the holiday season. Small Business Saturday will accelerate sales for those retailers who can offer unique products or services that the retail giants can’t provide.”

As to the physical stores, Target, Walmart, Costco, and BJ’s Wholesale Club topped the list of biggest retailers on Black Friday.

Perhaps unsurprisingly, though, even as online sales grew by billions, shopping at the brick-and-mortar stores fell by six percent, CNBC reported.

Follow Warner Todd Huston on facebook.com/Warner.Todd.Huston.

Continue Reading

Latest Articles

Become an insider


Best of the Month

Do NOT follow this link or you will be banned from the site!
 
Send this to a friend