Thursday, September 22, 2011

Elizabeth Warren - There is nobody in this country who got rich on his own.

This is Elizabeth Warren, former White House financial reform adviser. She is currently running for the Massachusetts senate against Scott Brown. This video has made Ms. Warren a rock star among the collectivist set. However, here on the Free Market side of the world, all I see is one hot mess.

Let's unpack Ms. Warren's statements, shall we?
I hear all this, you know, “Well, this is class warfare, this is whatever.”—No!
There is nobody in this country who got rich on his own. Nobody.
You built a factory out there—good for you! But I want to be clear.
You moved your goods to market on the roads the rest of us paid for.
You hired workers the rest of us paid to educate.
You were safe in your factory because of police forces and fire forces that the rest of us paid for.
OK stop right there, Ms Warren. Unless this we are talking about some foreigner who just came to this country and started a factory, I am pretty sure this factory owner paid taxes for those roads, schools and police too. Furthermore, thanks to the progressive tax system in this country, anyone with enough money to start a factory surely paid a hell of a lot more for those things than the average Joe or Jane.
You didn’t have to worry that maurauding bands would come and seize everything at your factory, and hire someone to protect against this, because of the work the rest of us did.

Now look, you built a factory and it turned into something terrific, or a great idea—God bless. Keep a big hunk of it.
But part of the underlying social contract is you take a hunk of that and pay forward for the next kid who comes along.
As I stated before, anyone wealthy enough to start a factory clearly contributed more for all those government services than average middle class person did. But aside from paying more in taxes, what about the other contributions this factory owner is making?

Let's start with the most obvious J-O-B-S! Most factories require workers and means jobs. It is those jobs that give everybody money so they too can contribute to building those roads, educating those kids and hiring those cops.
Oh, and let us not forget that the whatever is being produced from this factory is no doubt something we all need or desire.

So let us recap everything this greedy factory owner is doing:
  • Paying more for his/her share of government services.
  • Providing jobs for the rest of us.
  • Producing a product we need or desire.
Hum, seem to me that given all of that, it seem rather unreasonable to say they need to contribute more.

If you want to know why this administration has failed to rescue this economy and create an environment conducive to producing jobs, look no further than Elizabeth Warren.

Video h/t: The Blaze


FIREBIRD said...

This is Elizabeth Warren, former White House financial reform adviser..... Well THERE is the problem!

I'm assuming she's running on her huge financial successes in this administration? Seems they are now drinking their OWN koolade.

lady di said...

Being that I am from Massachusetts, being that I pay my taxes that paid for those roads and bridges, being I do run a company and pay wages, being that I am a Tea Party Member, I have the privileged to not vote for this socialist!!!!!

Steve In Tulsa said...

And when government becomes to big and greedy the government os worse than marauing bands; Can you say Gibson Guitar? How about San Joaquin Valley?

Quite Rightly said...

Does anyone ever get poor on their own?

Gary said...

I am in the San Joaquin Valley. The Nature Nazis want to turn the bread basket of the world into a desert so a one inch fish can be saved.

We are dealing with Luddites.

Hot Sam said...

By definition, we all consume the same quantity of public goods, but the poor 1) pay less for them and 2) make far less productive use out of them.

It is the "rich" folks who own the firms that employ the workers who make the goods that are shipped ok those highways, protected by the police, firemen, and Army, and deliver those goods for everyone, including the poor, get to consume.

Remember, Warren was the idiot-child who said she was a law professor, but couldn't understand a credit card contract.

Anonymous said...

Amen. Besides, most factories, since she seems to be talking about manufacturing, are public companies which sold stock to the public in order to get started. Thus they are owned by the public, not by some 20th century robber barron, who probably drove on dirt roads back in the day.

Shareholders own corporations here in America, I don't know where this woman thinks she is. I don't know what in the hell her point was now. Perhaps she's saying that everyone who owns stock in corporations needs to pay more taxes? Or perhaps it's just more pointless ranting, butt kissing, and B.S. You know what they say, "you repeat the lie, you repeat the lie, you repeat the lie, and eventually people believe it."

But they don't. Just today someone asked me if I thought the rich pay less taxes than the middle class. After my long explanation, she said, "Well, I don't really understand all of this tax stuff, but I don't trust anything Obama and his Administration say."

Hot Sam said...

No, QR, becoming and remaining poor requires government assistance too.

spc said...


good explanation on the public good thing--- I hadn't seen it quite that way...there is one more angle. No one but the individual is responsible for one person not maximizing their utilization of the so-called public good.

commoncents said...

We have the a video of the entire GOP Dartmouth College debate posted right now on Common Cents.

Common Cents

Anonymous said...

The only thing that bothers me about Herman is his reluctance to audit the Federal Reserve. He has backtracked on this statement since he made it but it just doesn't sit right. Course I guess you can find fault in them all.
Thanks for the post!

Anonymous said...

This bothers me also spreadeaglepatriot. Why did he start promising an audit of the Fed and now doesn't want it done? Since he served in the higher ranks of the Fed does he have some secrets that some people in 'higher-places' don't want us to know?
But as you say also, you can find fault in all of them and some of the others faults are either as bad or even worse as Herman's.

Anonymous said...

Warren is an idiot. I got rich because of my customers. Everybody else has police, and fire, and education. All stuff in the commons. But I alone have my customers, and my customers alone have made me rich.

They pay me to do what I do. I'll pay you to STFU.

babyboomer59 said...

This women is a hypocrite. She is a do as I say,not as I do. The left believe they can run this country from a book lacking common sense. Ms elite would like to tell everybody what they must do.

Fowl Ideas said...

Good economic policy is often bad social policy and vice versa.

When the democrats are in power too long they encourage employees to behave like parasites and to treat employers like some sort of Santa Claus.

When the republicans are in power too long they encourage employers to treat their employees like disposable human resources.

Try not to fall in love with either of them.

Anonymous said...

This Harvard Professor turned government hack fails to realize that salaries of gov't workers come from the Treasury by way taxes/taxpayers who must earn a PROFIT first. Without profit, people cannot overpay to send their child to an Ivy institution such as Harvard and the treasury cannot overpay Warren and the other gov't hacks to destroy our liberty with nonstop legislation and arbitrary regulation. There is nothing wrong with profit, and suggesting that more of the profit should be given to gov't so that they can try to buy votes is ridiculous. Economic ignorance is at epidemic levels.

Anonymous said...

Elizabeth Warren...fake Indian. Elizabeth Warren...unqualified.
Elizabeth Warren...used @ffirmative @ction to get a job.
Elizabeth Warren - voter fraud.
Elizabeth Warren - Fauxahontas.

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