By Paul Powell
Benedictine business student
In response to Aaron Youngblood’s article about the Occupy Movement, I have a few thoughts that I would like to share. The people that show up at the “occupy” movement rallies are asking themselves the wrong question in life. The general question that they keep asking themselves is: “Why do these fat cats on Wall Street have everything and I don’t? It’s not fair, so, how can we get the government to take what they have and give it to me?” They should be asking “I am not getting everything out of life I wanted, and these successful bankers and corporate CEO’s are. How are they doing it and how can I copy and improve on what they have accomplished so I can achieve the same level of success?”. Bill Gates, Steve Jobs, Warren Buffet, and Donald Trump did not get to be ultra-successful by tearing down the ultra-successfu people that came before them. They got to be who they are by emulating and improving on what other people did. The people protesting at the “Occupy _____” events needs to be motivated to accomplish, not discouraged and envious of others success.
Our country is in economic turmoil for many different reasons, and none of them include “the Bush tax cuts”. The progressive tax structure of the US requires “rich” people to pay exponentially more dollars in taxes because of our “progressive” tax system. According to the CBO the top 1% of income earners pay 38% of the income taxes collected. The top 10% pay 70% of the income taxes collected. The bottom 50% merely pays 3% of the taxes. The problem isn’t that the government is taxing the “rich” too little. The problem is the government is taxing, spending and regulating too much. Government cannot do anything as efficient as a private company or citizen because the government isn’t motivated by market demands; its primary motive is votes. On the other hand private companies are driven by profits, which drive efficiency based on market demand.
When John F. Kennedy, Ronald Reagan, Bill Clinton and George W. Bush cut taxes and/or government regulations the US economy saw the greatest times of prosperity in modern history. When Herbert Hoover, Lynden B Johnson, Jimmy Carter and Barak Obama increase government regulations and taxes the US economy faltered and contracted. The fundamental choice in November 2012 is weather we the US citizens want unprecedented economic growth and prosperity for all. Or do we want to end up like Europe and Greece with high unemployment rates, and low economic growth for the foreseeable future. I personally choose the option A.