Obama: “You Didn’t Build That Business On Your Own”
Jazz Shaw writes that this is Obama channeling his inner Elizabeth “High Cheekbones” Warren, who said last year “there is nobody in this country who got rich on his own. Nobody.” What she was saying is that no one can succeed with out the big loving embrace of The Government, so people who got rich should pay their “fair share.” Of course, she and other liberals utterly refuse to define what “fair share” is, though I reckon it revolves around giving lots to Democrat campaigns which will be repaid with cushy “green” energy DOE loans for companies that are close to bankruptcy. Anyhow
There are a lot of wealthy, successful Americans who agree with me – because they want to give something back. They know they didn’t – look, if you’ve been successful, you didn’t get there on your own. You didn’t get there on your own. I’m always struck by people who think, well, it must be because I was just so smart. There are a lot of smart people out there. It must be because I worked harder than everybody else. Let me tell you something – there are a whole bunch of hardworking people out there. (Applause.)
If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business – you didn’t build that. Somebody else made that happen.
Obama is sort of unintentionally correct: you didn’t. You probably got a loan from a bank, financial institution, seed money guys, rich people, mobsters….you know, folks/companies in the private sector with lots of cash that are looking to make more money off the investment in your business, and Obama wants to tax the bejesus out of those folks, meaning they have less money to invest in your business.
Of course, PBO means that you can’t succeed without the government’s generosity, especially since you can’t possibly be a hard worker or smart. Only Gubmint can create a business, chumps! Don’t you know that by now?
Now, I’m not one who says government has no role, or that no taxes are ever justified. Building roads, creating infrastructure, establishing the rule of law and providing access to courts to seek redress – all this plays a role. But Obama’s argument sounds like a statist’s economic version of “Field of Dreams” – if you build it, wealth will come.
Obama probably thinks $5 trillion in new debt helps businesses. As far as there being a whole lot of people who want to give something back, funny how Democrats are unwilling to write a check to the IRS, always take advantage of tax deductions (people like…..Obama!), and are notoriously uncharitable (with their own money).