Is America “Running Out of Rich People?”
Written by: Kim Sawyer
If you haven’t heard, Republican Michele Bachmann (R-MN) is of the belief that because of the passage of the stimulus bill, America is running out of rich people. Is that a true statement? I mean, America has plenty of rich people, right? Not only does Michele Bachmann believe America is running out rich people, she firmly believes that with President Obama at the helm of the country, “the have-nots will now be the Republican districts.” That’s a pretty bold statement, isn’t it? She also said the Democrats want to “take all of our money.” For real?!!!! Who does the “our” refer to? The Republicans? How much truth do you think is in Michele Bachmann’s statements? Former President Bill Clinton recently gave a speech and he spoke about the feelings of Republicans towards President Obama and the stimulus bill: “He has reached across, and it takes two to tango. I find it amazing that Republicans, who doubled the debt of the country in eight years and produced no new jobs doing it — gave us an economic record that is totally bereft of any productive result — are now criticizing him for spending money. … This stimulus is our bridge over troubled waters. He did the right thing.” As usual, Bill Clinton put things into perspective for those who, would otherwise, be confused about how President Obama may actually be helping, instead of hurting America.
I honestly don’t believe that America is running out of rich people. If anything, rich people seem to always know how to circumvent the system to stay rich. How, in the world, with the passage of President Obama’s stimulus bill, will this little fact change? Also, what’s wrong with those, who are categorized as the “have-nots” finally getting a chance to be associated with the “haves?” Isn’t America the country where anyone is able to become rich? How will will that sentiment change just because of the passage of a little ole $780 plus billion stimulus package? 7DayBuzz readers, what do you think about Michele Bachmann’s and/or Bill Clinton’s statements?
Tags: R-MN Michele Bachmann believes America is runningn out of rich people, the have-nots will become the haves and the haves will become the have-nots due to the passage of the stimulus bill, the stimulus bill is diminishing the number of rich people in America
February 19th, 2009 at 1:13 pm
little ole? I hope there was traces of sarcasm in that comment, especially considering it won’t be us (me and you) it will be yours and my future kids who pay for this horrible amount of spending. Before you point back to the first bill, realize the majority of Americans (including myself) was strongly opposed to the first one and both Obama and McCain (As well as the rest of the government) went against the American public and passed the first ridiculous bailout.
I honestly don’t understand why you think success is a right. The “have not’s” don’t have because they “have not” worked hard enough to have. America is (or was) the land of opportunity not the land of redistributed wealth to supply handouts.
Ryan Kazinec´s last blog post..How to Transfer a Wordpress Blog From One Server or Host to Another
February 19th, 2009 at 2:46 pm
Hey Ryan, that was major sarcasm on my part. I’m not impressed with the stimulus bill, but I’m not about to say just because this bill passed, America is running out of rich people! That’s pure foolishness! When did I ever say success was a right? I work just as hard as anyone else to make my life a success and I think others should do the same. But, I’m also not going to be so judgemental to where it blinds me to the fact that there are people who actually do need help! There’s always going to be people to take advantage of a free ride (that includes people who already have money too)! America is still the land of opportunity! You have immigrants coming over here all the time taking advantage of the opportunities that America offers. But we also have those people, born and raised in America, who don’t take advantage of the opportunities!
Right now, I don’t think anyone really knows what to do. Here’s something to think about: What if the people who are opposed to these stimulus bills refuse the money that’s given them? You know? What if the money that Bush gave via his stimulus bill,what if you gave that back? And now that you’re going to get a tax break from President Obama, why not refuse it since you’re opposed to the bill anyway? Can you imagine the impact that would have if EVERY one who opposes the bill, refused the money that is to be given?
Kim Sawyer´s last blog post..Is America “Running Out of Rich People?”
February 19th, 2009 at 6:17 pm
Kim,
I think that is a wonderful idea but as I’ve said in a previous reply to one of your older posts, no one is going to turn down free money, that’s the problem. When you say tax cut I’m presuming you’re referring to the 400 tax credit. That’s the equivalent to the pay cut I’ve taken if you add up three pay checks. If I honestly thought it would make a difference then I would gladly refuse it, even in the very dire situation we’re currently in.
Ryan Kazinec´s last blog post..How to Transfer a Wordpress Blog From One Server or Host to Another
February 19th, 2009 at 8:12 pm
You’re right about everyone not turning down free money. I don’t know of anyone who would give the money back, including myself. As I stated earlier, I don’t think our government officials really know what to do to help the economy turn around. So, they’re trying everything they can think of.
Yes, I was referring to the $400 tax credit. How about the $75 million housing plan President Obama came up with?
Kim Sawyer´s last blog post..Is America “Running Out of Rich People?”
February 19th, 2009 at 10:29 pm
This comment is from Richard who was having trouble commenting this morning:
Have you heard of Vinny Lingham? He’s the CEO of synthasite.com. Vinny is from Cape Town, South Africa. Got VC funding for his venture and moved to San Francisco.
He’s definitely richer in the United States than in South Africa. His first round of financing got him $5 million. The second $20 million – this was recently in the news.
I think America is still the place to go if you’re an entrepreneur who needs a fertile business environment in which to thrive.
Although Vinny started up in South Africa, we just don’t offer him what he needs to make a success of his online service.
Tom Sawyer´s last blog post..Is America “Running Out of Rich People?”
February 20th, 2009 at 12:20 pm
Rich people are high tailing it out of our country right now as we speak. I personally know of one business owner who is moving his company out just as soon as the tax cuts expire. He’s already doing the groundwork. I agree that Republicans spent too much, along with their democratic friends, and I disagreed with it then and now. History proves it is not the answer and yet we just keep doing it. I stopped working because my salary put us into the next tax bracket and it got to the point that it just wasn’t worth it anymore. I’ve been contemplating starting a business but am not feeling very motivated right now because the more I make, the more they take. I don’t mind paying my FAIR share of taxes as long as everyone else is doing their share along with me. Unfortunately too many people today choose to live off the government instead of doing their part. We’re all going to suffer because of it.
elaine kazinec´s last blog post..Baby bath towel with flannel seam binding and trim.
February 20th, 2009 at 11:40 pm
Here’s what we working people need to do: learn how to make the tax situation work for us. How does the “fleeing” rich do it?
Kim Sawyer´s last blog post..Is America “Running Out of Rich People?”
February 25th, 2009 at 7:01 pm
I just looked this up. The bottom 50 % of people pay 3 % of the taxes while the top 10 % carry 68 % of the tax burden. This is under our current tax structure. I’d say we should be doing all we can to keep the rich happy and encourage them to stay here because life is really going to suck without them.
elaine kazinec´s last blog post..Easy to make curtains with big snap in rings for hanging.