Is Mr. Weber in the money managements business? How is it fair that a small business owner , who for example may have worked his way up to own several Papa John Franchises, employs dozens of workers , and takes substantial risk, but then has to give up to 40% of what he earned to the government ? Compare that to less than 15% for the population at large. His kids and grand kids will suffer and have their money taken away. When Clinton was president (with a big assist from the Republican House and Senate) navigated through the boom years, government spending commanded less than 19% of GDP. For Obama, it's been north of 25% with no end in sight.
Wealthy Americans invest or spend their money. Obama’s approach is to take it from productive people, run it through the ineffective government bureaucracy and redirect it to a wish list of non-market projects.
Greg Coleman, CFA
The following is in response to Peter Schiff’s commentary, Patriotic Millionaires Unmasked, which was published on November 21:
Peter Schiff states the following, in regard to President Obama: "He essentially promised millions of middle and working class voters that if he were to be re-elected, they would receive benefits paid for by the rich."
I, and 90% of the country, would take major exception to this ridiculous statement. Simplistic, partisan sniping has no place in serious financial discussions.
Jeffry T. Lyon
JPL Financial Services, Inc
Editor’s note: The above comments have been forwarded to Euro Pacific Capital.
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