Let me tell you about my buddy John.
John is a bachelor. He majored in electrical engineering many years ago, works part time with his father on this father son business they put together. He bought his first house about 20 years ago, paid it off in 7 years by living frugally and ever since then has continued to live frugally his entire life. Over the past 20 years he has ebbed and flowed between regular day time work and working on his business with his dad as it suits him, for he does not really need that much money to live. However, he did a 7 year stint at one place which brought in an inordinate amount of money (he was paid $150 for 1/2 an hour of work) to the point he could pay CASH for two rental properties, which now today he collects rental income from.
Now the man majored in the right field and combined with his experience he can make bookoo coin if he so desired. If we were paid $300 per hour I'm sure we would too. But when he is offered a job or a position at one company or another he simply turns them down because of one reason and one reason only;
"The taxes aren't worth it."
Now this is an important point to understand in that it will explain why not only none of us will be collecting social security, but why this stimulus will utterly fail, just like the new deal.
First off, yes, John makes enough money to live. However, he is not "living the high life" as some would think. The man has enough residual income from his investments to make a decent living. Yes, he COULD go and work more and make nearly $500,000 per year, but he had an observation that should be taken to heart by all people;
"Why would I waste my time working more in life when not only is my life finite, but any additional work I do at this point will be taxed at 60%? Obama can tax my income, you can't tax my free time."
Understand that there comes the point in a person's life that they realize all they have on this planet that is of any worth is their time. And while money is nice, certainly vital, it is not so up to a certain point. There will come a level of income where one does not need to earn more to survive. Oh sure they may like to have some luxuries, but even then, there will come a point in time where one makes enough money to survive. Now if any level of production beyond that is taxed at such a high rate all one does in working that extra bit is essentially commit themselves to slavery, then why on God's green earth would people do such a thing? Additionally, why would "rich" people who are presumably already at that level of income go beyond the call of duty and work more? Take the logic an additional step further and factor in the fact that if people realize time is the only real thing of value they have (which I think with Obama, more and more people will), they will be reluctant to give that valuable resource up so easily. Ergo one can expect practically NO ONE who values their own life and time would be altruistic enough to work more at a 60% tax rate to support the parasites...errr....I mean the losers....ummm....err...I mean....Obama socialists....umm....errr....I mean "less fortunate" masses of the nation.
Now, this bodes ill for Obama's plans because since it's those "evil rich" people who pay the majority of the taxes. And with tax rates going up for the most productive members of our nation, why are they all of the sudden going to apply less value to their time and start slaving away, working as much as they did before to basically pay for a bunch of losers who can't (or better said, WON'T) support themselves? It's quite simple, they'll become like John, they won't. They will realize, like he did, "You can't tax free time, and free time is all one has on this planet."
Worse still, from a budgetary standpoint, is all this promised future spending. Precisely how do you expect to pay for all of this when you have deterred and disincentived all the productive members of society from producing the profits and revenues necessary to be taxed to raise the taxes needed to pay for the bribe money to vote for the democrats through "social programs"....errr....I mean...uhhh...how are you going to raise tax revenues when the tax rate has shrunk the tax base to near nothing? Is your mommy going to pay for it like she did your Harvard degree? Promise $10 trillion in stimulus via taxing "rich people" at a 75% tax rate. 75% of nothing is still nothing (study the Laffer Curve you morons). The simple truth of the matter is you won't. All Obama has done is shoot himself in the foot by penalizing the most productive members of society to the point they've become like John and realized sleeping in and drinking coffee with his friends and working the occasional 3 hours per week with his dad is infinitely more valuable than waking up at 6 AM to suffer a 1 hour commute to slave away for some asshole boss for 8 hours while you suffer a 2 hour commute back, while 60% of all the income generated from this hellish experience goes to pay for the Peggy Josephs of the world to live. The hosts of this nation (the John's) will simply not work denying the parasites of this world (the Peggy's) their bribe money from the socialist party.
Because after all, you can't tax free time.
And that my capitalist, self-respecting, freedom loving friends is about the only thing you can do right now when the majority of the populous is having "Obasms."
Don't work unless you have to.
Go to school.
Stay at home.
Write a book.
Play some video games.
Cut your spending.
If you can get by on a minimal level of income or work, the by God do it.
Because if you go that extra mile and are taxed at 65%, then all you really are doing is committing yourself to being a slave.
And you know something, life is just too damn short to be somebody's bitch.
On a related note.