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07-25-2012 05:05 PM |
People forget it was the Democrats who had failed to enforce the regulations in place and in fact work in concert with those they were suppose to regulate that created the failing economy.
conversely consider the overreaction of the Sarbanes Oxley Act(Sox) that forced many small business to fold because they could not afford or accomplish the demands being made by this regulation. The new Consumer financial Act enacted by Dodd/Frank is Sox's on steroids. Appear contradictory? Well it is bcause the government is too big too bureaucratic and hence apply regulatiions haphazardly
Team Obama has equated rich to evil, greedy, etc. As a kid I recall the biblical passage of "It is easier for a camel to pass through the eye of a needle than for a rich man to get into heaven." That passage troubled me as a kid because it was telling people that rich people were all bad. Yet we all witnessed churches accumulating wealth and the church was not bad.
The Protestant Ethic explained that people ought to be rewarded for their hard work. While charity existed it was limited as people were expected to take care of their families.
Certainly there are bad rich people but there are also bad poor people.
Spending needs are a reality whether you are a government or an individual. The problem arises when there is irresponsible spending. How many people do you know that spent more money than they were taking in because not out of need but "want". I want it all and I want it now" Well that has been the spending theme of Team Obama from day one and unfortunately Team Obama had control of Congress for two years. Solyandra comes to mind.
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