This is an economic thing.
If I sell my house, in my suburban neighborhood, and I make a profit from that activity, should I be required to share my profit with my neighbors, who don’t own my house?
The answer to this is, obviously not.
If my business makes money, and makes a profit, should I be required to share my profit with others, who don’t own a portion of my business?
Again, the answer to this is, obviously not.
Then why is the president of the united states saying that we should?
“If we’re fighting to reform the tax code and increase exports, the benefits cannot just translate into greater profits and bonuses for those at the top. They have to be shared by American workers, who need to know that opening markets will lift their standard of living as well as your bottom line,” President Obama told the Chamber of Commerce on Monday morning.
This isn’t an out of context quote. The guy still believes in redistribution.
Once the threshold is crossed, that an additional effort will not only net us no additional profit, but actually a loss of profit, you will see such a profound and unprecedented reduction of economic activity … why work harder if you are not going to earn more, or if someone will take it away from you?
Mr. President, if anything, you should be encouraging companies to go out and take more risks, clear the way to enable these risks to be taken (e.g. work to loosen the credit markets for small companies), because increased profits are the motivating factor behind business growth AND HIRING. Nothing else.