Friday, December 7, 2012
Envy and Resentment
The politics of envy have done wonders for Barack Hussein Obama. I picked up a carryout pizza last evening and engaged in a little economic banter with a fellow customer who told me he was a professor in that field at a local community college. He was evidently an Obamabot of the first magnitude and he spouted the usual "top two percent can afford the tax increase" rhetoric. This is not true for many people who file their business taxes through Subchapter S of Chapter 1 of the Internal Revenue Code. Many of these business owners will see their taxes soar and will pay in even more in instances where they must also endure the newly engendered expenses of Obama Care. Farmers may also feel the pinch of new higher tax rates. It will not be the "millionaires and billionaires" alone that this college instructor said he was not worried about who will face the onus of having Washington separate them from more of the money they earn. It will be businessmen who will no longer be able to afford additional hiring. Beyond that, folks making $250,000 a year are a long way from millionaires (and certainly billionaires)and they will be caught in Obama's tax raising net as well. What motivates the professor I spoke with seems to be that he does not make that much money, and in seeing no way he can now grow his income, instead of aspiring to do better, he just resents those who make more money than he does.