It is really quite easy to understand why the U.S. economy is in crisis and decline. Forget the delusional stock market (fueled by Fed fake money printing). On Main Street, our economy is sick and getting sicker. There are no jobs. Ninety million working-aged, able-bodied Americans are not working; that’s almost one-third of the country. The workforce participation rate is the lowest in decades. The rate of business start-ups is the lowest in decades. Food stamps, disability, welfare and Medicaid are at record highs. We face economic disaster. Why?
The answer is found in how we treat the heroes of the economy. Firemen are heroes because they run into burning buildings. Policemen are heroes because they run toward the sound of gunshots. That’s why they are called first responders. Where would we be in a crisis without these heroes?
But our economy relies on heroes. too. I call these heroes “financial first responders.” They are the business owners, investors, job creators and taxpayers. They risk their financial lives, just as policemen and firemen risk their bodies. They run toward crises, just like our first responders. They are willing to risk their life savings on nothing but a business idea. Amazing! They even risk their money in the midst of an economic crisis. That takes guts.
Like firemen and policemen who risk their lives selflessly for others, the financial first responders risk their money to create jobs, to provide a better life for their employees and to provide products that consumers need at a price they can afford. Their courageous risk-taking is what fuels the entire U.S. economy, thereby paying the taxes necessary to fund government. Without financial first responders, the economy and government would grind to a halt.
Barack Obama famously said to business owners, “You didn’t build that.” That statement may be the most ignorant ever uttered by a President. The truth is the exact opposite. Nothing could get built by government without the risks taken by business owners. We have roads, highways, bridges, airports, schools and hospitals because of the tax dollars paid by financial first responders.
Yet while government praises traditional first responders like firemen and policeman, Obama and his socialist cabal demonize, denigrate and disrespect financial first responders. For our courage and heroic risk-taking, we get kicked in the gut. We are targeted, punished, regulated and taxed to death for our success. And now we’re even persecuted by the Internal Revenue Service.
Next time you wonder why the U.S. economy is failing, just remember that Obama has created a hostile work environment. Just remember the 80/20 rule. Eighty percent of success at any business comes from the top 20 percent of superstar employees. The same holds true of government. Whether it’s Merrill Lynch, Coldwell Banker, Charles Schwab, Facebook, the State of New Jersey or the Federal government, success is dependent on the rainmakers. The top 20 percent produce 80 percent of your profit and pay 80 percent of your bills.
How do you motivate the rainmakers? It’s simple: The more these superstars produce, the more they get to keep. In any industry in the world, the superstars at the top keep more of what they earn. Plus they receive bonuses, fancy dinners, vacations, gifts, golf.
Can you imagine if a company came along that reversed that idea? What if this company treated the top 20 percent like crap. What if they punished them: The more they make, the less they keep. What if this company took away all the extra commissions and bonuses of these superstars and redistributed the money to the worst 20 percent of employees? Can you imagine giving nothing to your superstars, but offering fancy dinners, golf, gifts and trips around the world to the worst performers? How absurd. That company would be out of business in 30 days.
Don’t look now, but it’s happening. It’s called government. Under Obama, the rules have been reversed. He punishes the superstars at the top for our success. He taxes us to death. The more you make, the less you keep. He puts in place so many rules and regulations, that it is impossible to run our businesses anymore. The financial first responders are now condemned and punished for our heroism. Capitalism is under attack.
That is why the U.S. economy is failing. That’s why there are no new jobs. That’s why a recent study proves that there is more opportunity for entrepreneurial success and wealth in emerging market countries than in America. How shocking and sickening is that?
And if you still don’t believe me, study Detroit, which has done things the Obama way for the past 50 years — under 100 percent Democrat rule and with Obama’s exact policies. Detroit is now a bankrupt, insolvent, Third World hellhole and is unable to pay its bills.
Or take a look at Europe. It also followed the Obama socialist model for the past 50 years. Ask the people of Greece, Cyprus, Portugal, Spain, Italy or France how that’s working out. By the way, new car sales in the EU in May hit the lowest level in 20 years. Even in Germany, car sales were down dramatically. Just as I’ve predicted for two years right here at Personal Liberty, Europe is entering a Great Depression. How’s that big government welfare state mentality working out for the people of Europe?
There is only one way to save America and turn around this economy.
Celebrate and reward the financial first responders, meaning treat your top 20 percent the best and stop rewarding the bottom 20 percent. Obama has proven that is a recipe for disaster. Or as my dad, the blue-collar butcher, once said: “I’d love to hate the rich, but no one poor has ever given me a job.”
I’m Wayne Allyn Root for Personal Liberty. See you next week. Same time, same place. God bless capitalism.