I think he is jumping on the Keynesian and LibTard wagon as its the hot ticket in town and as he said he has suffered “financially”. In other words he is following the money and if it takes being a LibTard to do so be it.
Keynesian economics is abject failure, always has been and always will be.
But in fact that is not really the discussion…its really about redistribution of income BY taxing the rich. In other words this is how they will do it. There are some serious drawback to this. #1 is how much blood can you squeeze from them? At what point do they pull the plug and think to themselves they can live quite well on $10 Million the rest of their lives…or like my buddy. He got a windfall of $3 Million at age 39. He pulled pitch and retied to the golf course. He lives a good but more modest life than you may think and he will live at his home on the golf course at the Dallas Country Club evermore and be happy.
Worse what if say some Billionaire with $12 B decides to pull pitch and say screw it, not worth the problem anymore.
Here is the problem…BIG money, invests big. We approached the Bass Brothers for second round capital of about $5M. We never got to see them, their financial adviser liked our company, but, BUT, they ONLY consider investments of $100 MILLION or more. By the same token you do not sit down with a Pro Gambler who is used to playing Texas Hold’um with $100,000 to ante up and ask if you can ante with a $10 bill, he is out of your league.
Lets look at the oil business…don’t like big oil? Pardner you better drop to your knees and kiss them when they walk in or the cost to fill your tank would be a months wages. Look at the names you see on off shore rigs, Shell, Mobil, BP etc, NOT Joe chit the Oilman Inc. Why, those off shore rigs are a $BILLION dollar gamble and if you can not afford to lose you will never get to play!
So you suck away their money with the thought that hey, $25 Million is more than enough and we will take the rest. Big business that can play in the global market will dry up and go away, we will become a 3rd country full of lemonade stands and nothing else. Steve Jobs will still be working out of his garage, Bill Gates will go back to Harvard and live the cushy life via his mom and dad who are VERY successful…Bill never needed the money to begin with. Zuckerman will never take Facebook past his college campus.
What can we do? EZ: Make sure that my buddy invests his money, grows it, gives folks like me a business loan, put that money to work in our economy and if he chooses not to, then tax the HELL out of him on passive income rules. Do the same with Corps what have $100’s of millions in the bank and not working in the economy, expanding, buying new CAPX and growing, NOT drawing interest on a few Billion sitting in some investment back somewhere. Tax them at a 90% rate. Right now there is OVER $1 TRILLION dollars sitting on the sidelines…