Dear Iowa ( HATE THE RICH ?)

Comment #10

sully16 — Thu, 18 Aug 2011 03:18:47 GMT

The slight of hand was at work, Capital gains are not the same as profits, or income tax and thats what most people don't seem to know. The company I work for offers profit sharing, we are non union and we do quite well.<br

Comment #9

sully16 — Thu, 18 Aug 2011 03:00:48 GMT

Joker, Not all Business tycoons, are the way you described, there are really great companies to work for, both me and my husband work at family owned businesses, they are very wealthy , and continue to grow business where they can. We have 2 new stores opening, thats is growth,

Comment #8

GASMETERGUY — Thu, 18 Aug 2011 02:44:57 GMT

Jobs go overseas because of costs and only because of costs. To compete in any market means you make your product as cheaply as possible. Labor costs, higher taxes and burdensome regulations will drive jobs elsewhere faster than a flea jumping on a dog. If jobs are to return, higher taxes are not the way to lure them back. Greedy? You are dog-gone right. I'm greedy. I want to sell my labor for as much as I can get. I want as many benefits as I can get. CEO's are no diff... [ More ]

Comment #7

CashWinner$ — Thu, 18 Aug 2011 01:10:38 GMT

Wow, this is great stuff!! Very interesting!

Comment #6

TigerAngel — Thu, 18 Aug 2011 00:10:21 GMT

Okay, I kept the title "Analysis of Financial Terrorism in America" and directed readers here too.

Comment #5

TigerAngel — Wed, 17 Aug 2011 23:47:30 GMT

Thank you Sully for your beautifully written letter. However I do have to agree with some points that Joker raised. I've been sitting on a post that I may as well post now since we are on the topic. I renamed it "Grim Economics You Need to Know".

Comment #4

joker17 — Wed, 17 Aug 2011 21:51:15 GMT

It's regular people with money in their pockets that drive the work force. I can't believe that the bottom is supposed to rely on the priveleged to make sure we, the commoners make a living. That's not the way the country is supposed to work. The rich having more money in their pockets does not create more jobs. There has to first be a need for those services. Making twice as many widgets at a lower cost doesn't mean people are going to buy more of them If they don't have the money to sp... [ More ]

Comment #3

JAP69 — Wed, 17 Aug 2011 20:13:08 GMT

Thanks sully

Comment #2

sully16 — Wed, 17 Aug 2011 17:24:57 GMT

Thanks Ridge.

Comment #1

rdgrnr — Wed, 17 Aug 2011 16:56:46 GMT

Well said sully.

Original Blog Entry: Dear Iowa ( HATE THE RICH ?)

sully16 — Wed, 17 Aug 2011 15:19:45 GMT

Dear Iowa,

Recently you had a Democratic Presidential candidate come through your state, He is trying to convince you to hate the rich. He wants you to believe raising the Capital gains tax as well as other taxes will be sticking it to rich folks, This is not true.

Raising the Capital gains will in fact hurt most Americans, everyone who invests in the stockmarket, anyone who has a 401k, mutual funds, pensions...etc,

Many small investors will stop investing, if their ROI is eaten up with taxes, they will in fact find somewhere else to park their money. If peoples 401ks and retirement funds continue to lose money in the markets, they will not invest, think about it, if you lose half your money then it taxed to death, whats the point of putting it there.

Many small and mid cap companies as well as large cap companies use investor money to grow. That money is not forked over to rich fat kats and Ceo's, Many companies use it for research and development, or to expand their business, AND THAT MY FRIENDS HELPS TO GROW THE ECONOMY AND CREATE JOBS, From the construction workers, electricians, carpenters, plumbers, and payroll employees.

There is nothing wrong with making money, we all want the same creature comforts and hope for our future as well as our children.

Are there bad Corporations? Sure there are, greed and stupidity running rampant, thats when the stockholders need to speak up, and if laws are broken then people need to be held accountable.

What I find troubling is this urgent need to start hating rich people, class warfare will destroy this country. Many of these people get up everyday and go to work keeping millions with jobs. They have in fact created many millionaires within their own comapny. We cannot afford to have these people walk away from America because of class warfare.

My husband and I are middle-class Americans, He's a machinist and I work in a grocery store, we don't live beyond our means, we are in fact happy. We have done everything the right way, and we went without to save for old age, I do not want to be a financial burden to my son when I am old, as it is my hope he will have his own family.

My point of this letter is to help people realize that taxing the rich is not helping the poor, or the unemployed. Creating jobs and stopping the outrageous spending in Washington DC. should be our focus. With more people working, it will create less worries for all of us.

Take Care Iowa, As you are the starting point for the 2012 Elections, Your voice is speaking the loudest.

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