I've listened to Obama discuss his idea of ecnomics and fairness over and over again. I think I understand but you tell me. The easiest way for me to explain it is with ananologies.
There are 3 neighbors; Person A, Person B and Person C. They all started out the year with the same job and the same salary.
Person A plods along doing what they need to do but not striving to excel. They live paycheck to paycheck and spend everything they make, saving nothing.
Person B works really hard, does as much overtime as possible, makes wise investments and spends only what's needed as they save for their dream vacation to Europe.
Person C plods along like person A, but also decides to spend all of their money on lottery tickets and lives off their credit cards. They fall behind in their credit card payments and their mortgage.
Under Obamanomics Person B should pay Person C's credit cards and mortgage. After all, if they can afford a trip to Europe they can afford Person C's mortgage. If the three go out to dinner, Person B should pay for the meal for all of them. Again, if they can afford a trip to Europe then they can afford the meal. If they go to dinner separately, Person A should pay a low tax on their meal, Person C should pay no tax on their meal and Person C should pay a high tax on their meal. They can afford it so why shouldn't they pay?
In the end, Persons A and C still plod along and save nothing while Person B has to cancel their trip to Europe due to a serious lack of funds. The rule of Obamanomics, Person B is buggered.
Please let me know if I got this wrong.
Skipism Wednesday Is Here ~ PM
4 hours ago
You got it exactly right. Well done.ReplyDelete