Make the Rich poorer or the Poor richer?

An issue at the forefront of the today’s fiscal cliff disaster is how to get the economy going again, but there is really only one positive solution for the economy: make the poor richer.

Both sides of the Congressional aisle have presented their proposals and both sides present two fundamentally different theories about economic growth. The key component of the proposal from the White House includes raising the tax rate on the top two income brackets permanently while also increasing capital gains taxes and spending more money to stimulate the economy. Clearly the goal here is to make the rich poorer while trying to balance out what they determine as “fair.” I agree with Sen. Rand Paul’s response to this notion when he said on CNBC recently, “Do not send your money to Washington…People up here are not to be trusted with money.” Right now there are too many terrible spending policies that have failed to provide any assurance that the economy is growing to its true potential.

On the other side of the aisle, the Republicans in Congress proposed a new plan to the White House yesterday to keep the tax rates where they’re at, close loopholes and cap deductions to generate more revenue to bring down the debt, and to keep entitlements afloat. This seems more logical from a monetary standpoint. It brings in more tax revenue, continues pro-business growth, and secures the longevity of failing entitlement programs. This will allow businesses the ability to continue business as usual practices and hire additional workers to grow the economy.  It’s not about redistributing wealth, it’s about growing wealth.

As the battle rages on between the rich vs. the poor, business vs. the little guy, Republicans vs. Democrats, we have to understand that this game is bigger than political chess. Cut out the social media aspect of #My2k—which is just another political ploy to get people angry at the wrong issue—and show some leadership in coming together. This is an economic issue. Financial decisions are never easy for a family of five and even more difficult for the entire country, but money is money and sacrifices will be made. Let’s be fiscally responsible and get ourselves out of this mess.