They say that the love of money is the root of all evil.
Does that mean that money is evil? Does that mean that you are righteous if you are broke? Does it mean you are evil if you are wealthy? Or does it mean, simply, that if you use your whole heart pursuing riches, it leaves no room for anything or anyone else and the pursuit of money consumes your very being?
We are commanded to work "by the sweat of our brow" to eat bread. The great thing about societies is that you don't have to make everything you use. If you provide a good/service that is of use to someone else, they either trade their unique goods/services or they give you money for your good/service. You can either take the money and purchase another necessary good/service, or you continue to provide your good/service and barter with others. That is actually how societies have been functioning, probably, since the beginning of time.
Let's fast-forward to today. The same principles apply. If you work, you are rewarded. If you work hard, you earn a great reward; if you don't work hard, your reward is not so great. There are certainly some examples of not working hard and reaping great rewards, and likewise, people working very hard yielding small rewards. Either way, generally, you get as much as you give.
Let's say, as a young man, I learn these principles. If I go to school and work hard, I can get good grades and make it into a decent college. If I work hard at my studies, that can lead to a good starting job. If I get a good starting job, that can pave the path to either working my way up a corporate ladder, or gaining the knowledge and experience necessary to start a business of my own. Whichever path you choose, why do you want to work your way up the ladder or start your business??? MONEY! Hopefully you have chosen something you enjoy doing that makes you money, but most people realize that you need money to eat, to provide shelter, to have clothes, to heat/cool your house, to go to the movies, to buy cool video games, etc. Most people also realize that the harder they work, the more money they potentially can make, the more things they can buy/have/do.
Now, I understand that there are some people out there fighting against the evils of "consumerism", but that is another blog for another time. I'll just say that buying things is good.
Now, here in America, since the foundation of this great nation, we have been operating under the belief that a "free market" system is the best way to get the best ideas and the best products the human mind can imagine. As long as you have an idea (or are willing to help someone with their idea), you are free to make as much as the "market" will pay you. If that is $12,000 per year or $12,000,000 per year, that is what the market decides. If you are a giant company and are paying your executives a bajillion dollars a year and that is too much, than you possibly will go out of business and will need to adjust your executive pay accordingly. On the other hand, if you are paying your executive $50,000 per year and you are coming in dead last in relationship to your competition, you will probably need to invest more into the leadership of your company.
Which brings me to what really boiled my blood today. The President of the United States of America came out today and said, "at some point, you've made enough money."
That's right, folks; the leader of the most prosperous nation in the history of mankind, the leader of the land of the free and the home of the brave, the leader of the one place on the planet where freedom is possible for man, thinks you have a limit. In a land where the impossible is possible, where people have flocked for decades to enter in at our golden gates, and the sky is the limit; we have just been told that there is a limit. That we should cap our usefulness and only work so hard to make what someday down the road a government bureaucrat tells us is enough money.
Now, he didn't put a limit yet on what is enough. I imagine it is more than the three or four million a year he makes (who really knows). But whatever amount our government might come up with as "enough" is wrong. Even if it is a million billion jillion dollars; how DARE you ever tell an American that he has limited potential? How DARE you ever tell someone that they are making too much money? Last time I checked, this is the United States of America where the President can NOT tell me what I can and can't do. The President is merely a check on congress and a leader of the military.
I would really like to hear what you think about the President telling us that at some point, you've made enough money!
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Very well thought out and eloquently said.
ReplyDeleteThe phrase "Don't Tread on Me" comes to mind, again.
Playing the devils advocate here, but what comes to my mind is a few years ago, Krispy Kreme brought in a new executive to turn the company around. I don't remember all the numbers and facts regarding it, but I do remember this. His annual salary, given a standard 2,040 hour work year, came out to about $750.00 an hour. He makes more on his lunch break than I do in two weeks. Am I bitter? No. But that's dancing well on the other side of the line of "makes too much."
ReplyDeleteI agree with you that what has made our country great is the free market system without caps and without distributing the wealth to the ones who have never worked hard in their life. I'll be honest, I don't work that hard everyday. there are many people that work harder than me and make four times less than I do. At the same time, I worked hard on my mission, worked very hard for four years after that at school and full time work. and at times I work hard in my current job. Working hard for at least six years after high school provided me with a job that is not as hard but pays well. Why should my income be subsidized more than it already is to help out those who have never worked hard?
ReplyDeleteWhat do you think about drug companies selling drugs for whatever price they want because they know they will get it? The president hates it! The last I checked though 90% of all drugs ever created were created because of the money and creativity of the drug companies. The government only lets drug companies sell their drugs for 16 years and then the patent is up and any company can make a generic version. Why would the government be able to dictate the price of drugs? they don't own them. If people don't want to pay for them then don't buy them. Go exercise and diet more so you don't need any drugs. What if the government came in and told all the car companies they could only sell cars for less than 10k? I think it is messed up and Obama is a joke.
I agree it is rediculous but there is something missing that I am a little surprised you didn't bring up being an accountant. That is all the ways around a law limiting the amount of income. All I have to do is have seperate entities created where I shuffle the money around to where I make up to the maximum amount in each and then they can't do anything about it. While I completely disagree with his logic and the whole idea, there are so many ways to get around it that it really means the law is pointless. You can make the argument that your average person doesn't know the ins and outs of doing that. But the reality is that the average person isn't even going to be effected by this and those that are, they are making more than enough money to pay someone to get around it for them if they don't know how.
ReplyDeleteJoe
Dylan, to add to your comment and how it "seems" to normal people (like you and me) that $750 an hour is exorbitant, think about the effect he might have on the company. If that guy can come in and really turn Krispy Kreme around and bring in an extra (note "extra") lets just say $10 million in profits, than that million and a half a year he is getting paid seems like an AMAZING investment. However, if you pay this guy a million and a half in a year and he runs the company into the ground, well... too bad so sad, and it's time to get used to Dunkin Donuts.
ReplyDeleteThat's the beauty of a free market. If you pay your guy too much, you fail; if you don't pay your guy enough, he might look elsewhere and you end up getting what you pay for.
And yes, Joe, I totally understand that rich people pay as much (or as little) tax as they want. Did you know that the actual tax code is over 40,000 pages long? The 1,000+ page master tax book that is issued every year is a skimming of the surface of the things necessary to prepare tax returns. Have you noticed that the IRS is trying to go after foreign banks in order to be able to tax rich american's foreign investments?
I think a really simple answer to the tax problems in America is enact a simple and low flat tax. Just imagine how many "rich" people all over the world would invest in America if the tax rate was 5% across the board? All your income would be taxed at 5%. No deductions... period. If you make $100,000, your annual tax would be $5,000. If you are a company with $1,000,000 in gross sales, your tax is $50,000. I think you get the point. No more government controlling the masses' spending habits (through tax credits and incentives), no more using the tax code as a weapon against "enemies", and no more annoying political promises to help out one group or another in regards to tax cuts or breaks. And then the government would be bound to the income they receive.
Well, I guess that last part was a little unrelated, but I made this blog so I can go on and on on my soap box. I hope you enjoy this and I hope I can keep my posts interesting and discussion worthy.