“I’d like to create some wealth”

This morning I heard John Kerry asked “Is there anything wrong with being wealthy?” after a radio interview in which Kerry’s personal wealth was pointed out (he’s got millions, after marrying a daughter of the Heinz ketchup fortune), and after Kerry lamented that “millionaires are getting tax cuts”.

Kerry said “Well, I hope not – I’d like to create some wealth” … by being President? :crazy:

Presidents don’t create wealth – except for their own appointees, or by deviously directing projects to political allies perhaps. They certainly don’t create wealth at a national level. For average people, the lottery does a better job than Presidents (or governments) do.

Consider the Bush tax cut. That didn’t create wealth, even with $600 checks flying into mailboxes, and additional $400 checks coming to taxpayers with kids! And I doubt very much Sen. Kerry’s interested in sending you a $1,000 check.

The government takes money, democrats. You seem confused on this issue. It doesn’t give it. It can’t create wealth – it’s not within it’s power to give! Sure, it might dole out money through welfare, but the amounts aren’t exactly what you’d call “wealth”.

Employers create wealth. They hire people, pay them for the work they do, pay taxes on their profits, give promotions, raises, retirement funds, and frequently, educational funds. The liberals reading along will probably want point out that government policy enables companies to do that.

Bzzzt. Not the kind of policy the democrats want! How would you suppose the gov’t wants to create wealth?

Raise the minimum wage? You’ll lose more jobs to Mexico, India and China that way. American companies — especially public companies, driven by stockholders (who want to make a profit) — will move their jobs out of the US if it suddenly costs more to employ people here.

Aggressively level the trade gap? How do you do that, devalue the dollar? If a Euro becomes worth $1.50 then sure, American goods are cheaper in Europe. Seems like more Americans would have to work to produce the increase in goods flowing there. And since lots of currencies are relevant to each other, the dollar would drop similarly against the Yen, the Peso, etc. What else does that do? Lowers the value of foreign investments in America. Which weakens the bonds America uses to prop up debts. Which means the debts and/or interest rates on those debts rise, which ripples through the economy and causes… (wait for it)… inflation! Higher prices for milk, bread, gas, etc. That certainly doesn’t create any wealth.

Tax/Tariff foreign goods? Expensive toasters! Get yer expensive toasters, tvs, dvd players an cars, right here! Hrmm. That doesn’t create wealth either.

Basically (and I can’t even remember who I’m quoting): You can’t tax a country into prosperity. But I haven’t heard any democrats talking about lowering my taxes. With MY extra money, I want to buy a rifle – employing Americans to make it. I want to buy a new video card for my computer – employing Americans to sell it. I want to put a deck on my house, employing Americans to construct it. But I don’t have that extra money, and if my taxes go up, odds are I won’t.

I’m certainly not funding those extravagances with a credit card – why should I pay more than I have to?

All this over an extremely liberal (he’s got to gaze off to his RIGHT to see Ted Kennedy!) presidential candidate claiming he’d like to create some wealth. This doesn’t even take into account that he wants to raise EPA Gas mileage standards (to 36mpg), decrease defense spending, increase education spending (oh sure, because THAT’s working really well), and make environmental (read: industry weakening) laws tougher.

For the record, I’m voting Bush this year. Even though he’s got laughable credibility right now. Even though he’s got serious problems with employment. Even though he’s sending our troops around the world to a war of very questionable warrant. He’s still got demonstrably better ideas about reviving the economy and America’s respectability in the world than his alternatives.