Sunday, October 26, 2014

BloggeRhythms

The comment made yesterday by Bill Clinton’s wife, about US job creation is so ridiculous and far from the truth that it continues to remain in my thoughts.
 
A primary question arises as to whether Bill’s spouse is so out of touch with the nation’s history and its form of government that she should even propose such a premise, or is she simply adding her agreement to the incumbent’s grossly incorrect similar statement in 2012, made in the context of his belief that wealthy citizens should pay higher taxes to serve the public good.   
 
In Bill’s wife’s case, she told the crowd gathered at the Park Plaza Hotel not to listen to anybody who says that “businesses create jobs.”
 
“Don’t let anybody tell you it’s corporations and businesses create jobs,” she said, “You know that old theory, ‘trickle-down economics. That has been tried, that has failed. It has failed rather spectacularly.”
 
What’s most interesting, is that even the incumbent, who has little, if any, understanding of how the economy actually works, had a fiscal motive in his 2012 speech: movement toward higher taxes from the successful. Bill’s wife, on the other hand, had nothing to offer aside from proof of her sheer ignorance regarding revenue production issues. 
 
However, simply for the sake of examining Bill’s wife’s belief that business doesn’t create jobs, how can she explain the employment opportunities arising from Benjamin Franklin or Thomas Edison’s inventions, PT Barnum’s creativity or Henry Ford’s? How about Thomas Watson's building of IBM? 
 
Was the government behind Ray Croc when he started McDonalds, or H Ross Perot at EDS? 
 
In more recent years, quite a few household names built enterprises having no attachment to government whatsoever, except when they paid significant taxes and/or fines. Including, Bill Gates, Warren Buffett, Steve Jobs, Steve Wynn, Herman Cain, the Koch Brothers, George Steinbrenner, Mark Cuban, Oprah Winfrey, Martha Stewart, Joan Rivers, Oracle founder and CEO Larry Ellison and Facebook co-founder Mark Zuckerberg.
 
On the other hand, what has government accomplished that’s put so much as a dime in taxpayer’s pockets? 
 
Solyndra, Cash for Clunkers, the GM bailout, Obamacare, the EPA, Fast & Furious, the IRS, Ebola, Benghazi, scandals at the VA and NSA, the growth of the welfare state, illegal immigrant hordes and the global-warming farce have all been huge financial fiascos, while no income-producing successes exist.
 
Therefore, although she's got still got two years to go before the next presidential election, it might do  Bill’s wife well if she took a few courses in economics and American history before making speeches that make her sound like she flunked Obama-Talk 101. 
 
That’s it for today folks.
 
Adios

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