The #ninjamom tweeted this morning:
In other words, if Obamacare isn’t a sufficient train-wreck by lowering the cap on FSA’s from $5,000 to $2,500, increasing the amount of out of pocket expenses are required before she can deduct her healthcare expenses (from $3,750 to $5,000), then she also faces a hike on all her income above, say $37,000, and if she has been enjoying deducting sales tax because she lives in a state without a state income tax, yet another chicken will come hime to roost.
More importantly, to paraphrase the words of that crazy old wizard, Obi-Wan Kenobi:
“You and the 1% form a symbiont circle. What happens to one of you will affect the other.”
Dr. J. hates to say it, but the well-heeled, are a critical part of the economy. Just as your well being affects theirs, their economic well being affects yours.
They have more discretionary income available to spend, and as a consequence, they spend it.
Dr. J. has a lawn-guy and a cleaning lady who help us out. They are like family to us and they both got a raise as we moved into J. Abbey, given the acreage and square footage. Dr. J. has enlisted the help of two interior decorators in the past month, one to pick colors and help design built-ins, and the other to help us find furniture to round out a couple of rooms. Indeed we took delivery of a hand made kitchen table, built in Mississippi by a gentleman who does this in addition to his 9-5 job.
In his opinion, ‘Economic Patriotism’ is not cheerfully handing your earnings over to the federal government so that it may be wasted on all sorts of pet projects to prop up so-called favored constituencies and grossly distort the free market by picking winners and losers (and that is what Obama means by Economic Patriotism). Again, ‘Economic Patriotism’ is a phrase that creepily smacks of fascism, but Dr. J. digresses.
How he sees ‘Economic Patriotism’ is to support businesses that provide an excellent service for a fair price, to cheerfully pay a dollar of pay for a dollar of work. Money spent in the private sector has a more powerful economic multiplier than any redistributionist scheme ever dreamed up in the minds of leftists since 1848 and even before that.
And if you don’t believe Dr. J., believe Richard Scarry. His treatise on microeconomics sums up the free market in a way that is so clear, a 3 year old could understand it.