AMERICA’S ‘POOR’: Living Better Than Kings of Old

America’s 45.3 million so called “poor” live better than the kings of old. This prompts the inevitable question: has America’s sloth-encouraging, hand-out society failed?

The typical American family, which the census identifies as “poor,” has air-conditioning, cable TV, a computer, and most modern conveniences. In fact, 40% of the poor have wide-screen HD TV and Internet access. In many ways, the “poor” in the U.S., which number 45.3 million, live better than the Kings of old. Are they really “poor”?

Since President Lyndon Johnson initiated the War on Poverty in the 1960’s, U.S. taxpayers have spent over 22 trillion on this effort.  Yet the percentage of the population identified as “poor” has actually increased since Johnson launched this War effort.

Sadly, his well-intentioned endeavor has actually made the situation worse by creating a growing dependency class and culture ― which has learned how to survive and live historically-well without working, or by working as little as possible.

The War on Poverty has also created leftist political careers and organizations and industries, which cater to the growing needs, wants and expectations of the so-called “poor.”

The American economy also suffers as a result of our sloth-encouraging, hand-out society. Taxing people who work, produce and invest ― while paying people for not working, producing and investing ― only gives us more non-workers, non-producers and non-investors. The prosperity of a nation depends on its collective productivity, innovation, entrepreneurialism and investments – not on government handouts and citizen-takers.

Our corporate tax policy, for instance, discourages new business and job creation. With the developed world’s highest corporate tax rate at over 39%, including state levies, plus a rare demand that money earned overseas should be taxed as if it were earned domestically, the U.S. is almost in a class by itself. It ranks just behind Spain and Italy, of all economic humiliations. America did beat Portugal and France, which is currently run by an avowed socialist.  (Little wonder why jobs and pay are so lacking under Obamanomics and Dem control).

President Obama and Congress should consider making it easier for small businesses to start up and succeed.

It is extremely difficult today to start a business in America – because of all this excessive regulation and taxation.

I’d suggest that taxes on the first $10,000,000 of gross profit be reduced to zero. The same for all but the most essential regulations.

Small businesses struggle during the first few years due to taxes and regulations.  The elimination of these stumbling blocks would greatly enhance their success and the employment of workers.

This proposed tax credit should be applied across the board to all businesses, large and small – to make it quick and easy to administer.

Enhancing the creation and success of small businesses would greatly strengthen our economy and increase employment.

Now there is a practical and workable way to help “the poor”.

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William Pauwels

About the author, William Pauwels: William A. Pauwels, Sr. was born in Jackson Michigan to a Belgian, immigrant, entrepreneurial family. Bill is a graduate of the University of Notre Dame and served in executive and/or leadership positions at Thomson Industries, Inc., Dow Corning, Loctite and Sherwin-Williams. He is currently CIO of Pauwels Private Investment Practice. He's been commenting on matters political/economic/philosophical since 1980. View all articles by William Pauwels

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