A long career in financial sales taught me well regarding the extreme importance of fiscal matters to the overwhelming majority of people. Especially those who are the most successful. And, despite any image they might wish to portray about benevolence, good will toward all and charitable concerns, every one of them knows that if they don’t maximize usage of every dime in their coffers, they likely won’t be around very long in highly expensive and competitive environments.
In that regard, that’s why I write so many entries about how poorly the government, and the current administration in particular, manages other people's money, whereas they don’t have a cent of their own. It’s also beyond belief to me that they not only get away with what they do without being held accountable, but continue to make monetary decisions though having no concept of finance whatsoever, even at the most basic of levels. Most households are run fiscally better than the gibberish that comes out of the White House.
But, what’s even worse in my opinion is that above and beyond the total absence of the barest of financial understanding, the incumbent compounds the issue via attitude and overbearance. And what set me off about that was a blurb in a column on Fox News on line today saying, “Obama, though, is demanding far more” than what Republicans have currently offered regarding the upcoming fiscal cliff.
Now, as the negotiation about the cliff continues, I’ve no clue as to whether a solution will be reached in time or not. My point regards the incumbent’s “demands,” whereas to my knowledge this is still a democracy and he’s not a monarch, which means he can ask, he can beg, he can wheedle, he sometimes can even make unilateral decisions, but as far as “demanding” in this case goes, he can’t ever do that without a majority of votes. So, if he wants to demand, let him go into a closet somewhere and dictate to himself.
In the meantime though, this is a perfect follow on to yesterday’s subject about myopia. Because if he continues to obstinately insist on the passage of crippling fiscal legislation all he’ll really accomplish is further slowing the nation's growth while shrinking the tax base in the process.
As I wrote at the outset today, all of those potentially harmed by increased taxation aren’t going to just sit still and pay it. Instead they’ll reorganize into smaller units, hire less people, make less profit on paper, and likely reduce investment substantially. And alongside that, the underground economy will take off like a rocket.
So, in the end the financial genius on Pennsylvania Avenue can demand all he wants to, but in the real world he really ought to consider being nice, polite, and quiet. And then perhaps he’ll have a better chance at getting nearer to what he wants because all he's raising now is hostility.
That’s it for today folks.
Adios
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