Tuesday, October 07, 2008

TANSTAAFL (There ain't no such thing as a free lunch)

My high school economics teacher, Mr. Ernie Watts, taught me this valuable lesson: TANSTAAFL, or (There ain't no such thing as a free lunch).

There's no such thing as free health care, free government programs, free anything. Who's paying for them? The 80% of small businesses that drive the US economy.

The credit crunch and government bailout certainly affects small business, which will continue to plow ahead and keep the economy running and create the economic recovery.

At this point in time, the wealthy (and those trying to create wealth) pay the majority of taxes. More than one researcher confirms that the rich really do pay higher taxes. Small businesses, you're the next target... assuming you're trying to create wealth, and after the election, of course.

1 comment:

Ron said...

Mr. Watts is still kicking in Elyria. He has been an inspiration to many students over the years, and has become a good friend of mine.