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Candidate Obama Stole My Job, President Obama Won't Give It Back

Higher taxes = dead startups.

By Guest Editorial  |  February 11, 2009

I started working for a startup in November, 2007.  The boss had a good idea, but he didn't have enough money to develop the product.  He got a rich investor to cover the development costs which everybody thought would take two years.  So we started working.

The investor gave my boss payroll money through November 15, 2008, but not a penny after that.

What happened?  Why walk away from a half-done project which still looks like a good market?

I'll tell you what happened: President Barack Hussein Obama happened.

This is real, real simple.  A rich guy invests because he has money, but he wants more, he's greedy like everybody else.  Our rich guy gave my boss some of his money so my boss could develop a product to sell.

The rich guy planned to get back more money than he put in.  That's how people with money get more money - they invest, which means a business hires people to do the work, and the investors hope to make a profit down the road.

Why did my boss' investor walk away?  Because when he was a candidate, Mr. Obama said capital gains taxes were too low and he planned to raise them.  Mr. Obama thinks it's wrong for investors to keep so much profit from their investments, he wants government to take more of it away.

We have the highest capital gains taxes and business taxes in the developed world.  Some countries have 0% capital gains tax!  That's right, zero!

Those governments are smart enough to know that it's real, real hard to start a business which creates jobs and income taxes.  Any business that creates jobs gives the government plenty of money though employee income tax.

The government doesn't need to take money from investors who made the business possible and make jobs like mine possible.  They already take plenty when the money's paid out to employees.  I pay income taxes on every dime whether the business makes money or not.

Mr. Obama knows that.  He said he knew that raising capital gains taxes means that government gets less money.  In one of the debates, he said he wanted to raise capital gains taxes anyway in the name of "fairness" even if the government would get less tax money.

What is he smoking?  Does he think I give a rat's patoot whether it's fair that my boss makes more money than I do?  Does he think I give a rip if the rich guy who created my job in the first place makes more money than I do?

All the guys working on the new product are all unemployed, thanks to what Mr. Obama said about raising taxes.

Mr. Obama may think it's fair to take away so much money that the rich guy stops investing and kills our jobs, but we don't like it, not at all.

If wiping out our jobs is Mr. Obama's idea of "fair," he can shove fairness where the sun don't shine.  I can live with my having a job making a rich guy richer.  The richer my job makes him, the more profit the business has, the more secure my job is.

When my boss' investor figured whether giving my ex-boss money would make him more money back in 2007, he figured what he would keep after paying capital gains tax.  Where the tax was then, he'd get an acceptable return on his investment.

When Mr. Obama said he'd raise the capital gains tax and didn't say how much, our investor kept investing.  He met the Nov. 15 payroll.  He hoped Americans would realize that raising taxes would kill jobs and vote against Mr. Obama, but they didn't.

Mr. Obama won on Nov. 20 and my job disappeared immediately.

Candidate Obama stole my job by mouthing off about "fairness."

Mr. Obama is from Chicago, he should know all about greed.  Union guys didn't support him because they're nice, they supported him because they're greedy.

Unions have lost millions of members over the last decades because most workers look at unionized GM, Ford, and Chrysler.  They look at non-union car makers and know that unions are bad for jobs.

Unions hope Mr. Obama will pass a law so their goons can put pressure on people to sign cards to get a union in places there is no union.  When they get a union, they force workers to pay dues to the union.

Union bosses want more dues money!  They're greedy!  Nothing wrong with greed if your greed creates jobs - but instead of creating jobs, unions want to make workers more expensive.  Jobs will go away just like my job went away and just like Detroit jobs already went away.

Mr. Obama knows unions spent their stolen dues money electing him.  They invested in him and they expect to make a profit by forcing people who don't want a union to pay union dues.

So far, they're getting their profit.  Mr. Obama talks about stimulating the economy and creating jobs.  What's he really doing?  The stimulus law is just about all political payoff!

They're going to throw our tax money at unionized public schools to pay back the unions that elected Mr. Obama.  They're going to throw our tax money at bankrupt car companies to keep union jobs going and keep those dues rolling in.

They're going to throw our money at new energy so they can shut down old energy, but we barely have enough energy now.  New energy is going to cost a lot of investment, we will have no more energy than we have now, and we'll pay a lot more for it.

How does boosting energy prices help the economy?  It helps the union hardhats who build the new power plants and tear down the old ones, but you and me will pay, and pay, and pay.

Is any money going for investment in real, permanent, profitable jobs that pay more in taxes than they eat?  There is talk about cutting payroll tax so employees will spend more money, but there isn't anything about making investment more profitable except for cutting taxes Hollywood pays on movie profits.

Why cut Hollywood taxes?  Because rich Hollywood guys supported Mr. Obama's campaign and need a return on their investment in electing him , that's why.

Unions and Hollywood wouldn't invest in him if they didn't think he'd pay them off with our money.  I got news for President Obama.

My boss' investor is just as greedy as the union guys and the Hollywood guys.  He won't invest unless he thinks he'll make a profit and he thinks government will let him keep enough of the profit to be worth the trouble.

If government's going to tax away the profit, why bother to create jobs?  Better to sit on the money he already has and let me starve.

If President Obama wants businesses to create jobs, he's going to have to make it profitable to create jobs.  Investors won't invest in a business unless they see a profit any more than unions will invest in a politician unless they see a profit.

The difference is that President Obama pays the unions off with tax money people don't want to pay.  Business investors earn money and create jobs by selling products people want to buy.

Candidate Obama stole my job by talking about taking away all the profit my job would have earned for the investor.

If he really wants to create jobs, what about saying there would be no tax on gains from investments made in 2009?  No tax on gains if you bought a house in 2009, no tax if you profited from an investment in 2009.

That would interest my boss' rich friend; our product is still a good idea.  President Obama could create a lot of jobs by dropping the capital gains tax, but he says that wouldn't be "fair."

Me, I'd rather have a job, but our President won't give my job back by letting businesses create jobs.  He's pouring our money into unproductive government make-work "jobs" instead.