Government's "help"--the death of "success."

[rbell]

This is relayed by Neal Boortz. He can get colorful, so I've toned down a phrase or two. But his point is clear: All of this "financial reform," coupled with "the fortunate" paying "their fair share," will have some significant unintended consequences:

SOURCE of below's quote

I've mentioned this on the air --- don't think I've written about it here. I have a friend named Bernie Marcus. Great guy ... really one of my heroes. Ever heard of him? He left a job in California at the age of 49 and moved to Georgia. Here in Atlanta he and his pal Arthur Blank came up with an idea ... a super store for home improvement. I remember the first store they opened right outside Atlanta's perimeter highway on Buford Highway. They called it "Screws n' Things." Now, wait. I'm lying. They called it "Home Depot."

Well, I'm sure you know the rest of the story. This was pure capitalism at work; one of America's great business success stories. This country is virtually littered with people who got jobs at Home Depot, invested some of their earnings in Home Depot Stock .. and ended up being millionaires. Do stories like this interest you? You can read a book by Bernie and Arthur where they tell you how they did it. Here's your link:

So .. why this story of Bernie Marcus? Bernie and I have had talks about his Home Depot success story. I've read the book. Bernie tells me that there is no way ... maybe the phrase was "no way at all" ... that he and Blank could repeat the Home Depot story today. Home Depot was then. Obama is now. The type of entrepreneurship that allowed these two amazing men to go from scratch to $30 billion dollars .. leaving millionaires scattered in their wake ... is pretty much gone, and it will be finished if Chris Dodd and Barry get their way. So long entrepreneurship. Hello government-controlled economy. You're gonna love this stuff folks.

Scary stuff...but he's right. Soon, if the Community Organizer gets his way...it simply won't be possible to succeed. You'll have such an obligation to "share the wealth," or "pay your fair share," or "help the less fortunate," it won't be worth putting in the effort to begin with.

 

[billwald]

Everyone can't be a millionaire because maybe only one out of a million has the right smarts, the right temperament, the right idea, and are in the right place at the right time. Some of them become millionaires by convincing a a million people that "anyone can become rich like me. All you gots to do is . . . ."

I don't think the tax rate or the political situation will stop these people from climbing their way up the food chain.

 

[rbell]

I don't think the tax rate or the political situation will stop these people from climbing their way up the food chain.

So, you don't think confiscatory taxes or onerous regulations stifle growth, or stunt new business ventures?

You're way off on this one. Of course these things matter.

 

[rbell]

Everyone can't be a millionaire because maybe only one out of a million has the right smarts, the right temperament, the right idea, and are in the right place at the right time. Some of them become millionaires by convincing a a million people that "anyone can become rich like me. All you gots to do is . . . ."

So, you think most successful people are that way because of luck?

 

[Cutter]

Good points by Boortz in the OP. The gov't has smothered the business sector with so many regulations, taxes, and mandates, that new business start ups are virtually non existent. Too many hoops so why bother. Billwald is typical of the liberal left. It is obvious by his post that he is an anti-capitalist. This is the attitude that is destroying American jobs, entrepreneurship, and free enterprise. The State is moving very quickly to curtail business opportunities and financial liberty so that these institutions and responsibilities transfer from the people's hands to the Government.