The President’s Message to Those Making $250,000 or More

Posted By on February 25, 2009

It wasn’t even subtle, was it? Amid all of President Obama’s eloquence last night, there was one clear message from our Salesman-in-Chief: The economic bailout will come from two sets of pockets—those of the wealthy, defined by the President’s economic team as any household making over $250,000, and those of our children, in the form of future taxes. I realize the economic stimulus funding must come from somewhere. It’s like Willie Horton when he was asked why he robbed banks. His reply: “Because that’s where the money is.” Yes, the rich control the largest percentage of the nation’s wealth—the top 20 percent controls over 84 percent of the nation’s wealth, and the top 1 percent controls an astounding 35 percent.  But if we shell-shock the rich with huge tax increases at a time of such economic uncertainty, I don’t see them opening their wallets and fueling an economic revival. I don’t see them hiring more people or expanding their businesses. The rich are scared, too! Mr. President, how do you propose to inspire the rich to feel rich again? That’s a sales pitch I can’t wait to hear.

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About The Author

W. Randall Jones is the author of The Richest Man in Town. Visit the About W. Randall Jones and About The Richest Man in Town pages to learn more.