Monday, December 6, 2010

Millionaires and Money: Where Does it Go?

Millionaires, a term used with some degradation these days, are a real mix of folks. They could be the trash hauler in New Jersey whose parents came from the other side and worked their hands to the bone in Jersey City then their children started a business and it took off. It could be the entrepreneur who bet all on building a business, perhaps for the third or fourth time, and risked everything on their dream of opportunity. It could be the surgeon whose skills excel in saving lives but whose practice is now but a small part of how he makes money. Lots of different folks.

So what do they do with that money that the progressives want to take. Do they bury it next to their dog's bone in the back yard, hide it in the lamp shades, perhaps they just waste it by gambling in Atlantic City!

No, they spend some, invest some in others, for how do you think entrepreneurs get any where, they pay for the childrens' education, unlike the rest of the folks, they give to worthy causes, yes they give to charity, the US being the most giving country in the world.

So what would the Government do with it, well just spend it and more. That money is much more productive in private hands than any Government employee. The individual is making individual decisions but doing so based upon their own true life experiences. No Government employee has any idea what it is like to risk it all on an idea. So where is the money going, back into the economy in a manner better than any the Government could put it to.

And why does no one see this to be the case in the educational towers of economics, because they most likely do not behave like the fellow who grew up in Elizabeth, whose father worked 20 hours a day getting the kids through college and was happy o his death bed to see his children reaping the American dream. So all we have is Government employees who have the hubris to believe that they know better ... but how much do they return back ... they make twice what we in the private sector do .. so what have they given back ... not a tinker's dam!