Thomas Friedman, columnist for the New York Times, wrote an outstanding editorial, “More Risk-Taking, Less Poll-Taking”, in yesterday’s paper.
The concluding paragraph, cited below, sums up the gist of the article and is worth reading and contemplating at length. Much wisdom regarding the improvement in our country’s fortunes rests in these words.
‘Obama has spent a lot of time lately bashing the rich to pay their “fair share.” You know what? There are definitely some Wall Street bankers and C.E.O.’s who deserve that bashing. But there are many successful Americans who got their wealth the old-fashioned way — by risk-taking, going into debt to start a business or pursue a dream. It’s time for the president to do some risk-taking — to stop just hammering the wealthy, which is so easy, and to start selling the country on a strategy to multiply them. We need to tax more millionaires, but we also need more millionaires and middle classes to tax. The president was elected to grow our national pie, not just re-divide it.’
Questions or comments are welcomed.
Bob Bilkie, CFA