Friday, October 31, 2008

The Vilification of Wealth

As a young man, I aspired to become financially self-sufficient. I wanted the safety and comfort provided by financial independence. It is the “American Dream” and I admired those who possessed the determination and perseverance to refuse to be defeated. That’s not to say they didn’t experience setbacks, challenges, and even some failures. Of course they did, but that’s what intensified their passion and developed in them a mental and physical toughness which would never concede to defeat. But never did I resent their good fortune or believe for a second I was owed anything from any person or entity.

America became the greatest nation in the history of the world because men and women came from every continent to pursue economic, ideological and religious freedom. Most followed their ambitions in an honorable manner and resisted the temptation to succeed at any price. These are the people who built America! Their vision, work-ethic and self-sacrifice created prosperity beyond their own imaginations. These people deserve to be recognized and should earn the respect of every American.

When we talk about the ‘land of opportunity’, we must also recognize the laborers who toiled in the fields, lifted the heavy burdens, carried the weak, and shared their possessions with those truly in need. But what would they have done if someone hadn’t passionately pursued their dream; hadn’t risked their own financial security; and refused to give in when all seemed lost. I know it’s fashionable in political climates to lift up and praise the American worker and I do as well. But we should also honor and respect those who achieved their dream in an honorable and forthright manner.

There are numerous clichés in our lexicon of behavior about how just a few can ruin a good thing for everyone else. We know this is true because we see it everyday in our jobs, our schools, our churches, our civic groups, and our governments. Some people just don’t believe the rules apply to them, or their ambition is so great they unknowingly trample on the rights others, or worse, they simply are bullies who will stop at nothing to satisfy their own self-interests. These people are everywhere and they are distributed equally among all demographics and every purpose of collaboration.

I don’t resent the truly needy because a few have taken advantage of our compassion and generosity; I don’t resent our elected officials because a few have abused their power; I don’t despise an entire political party because a few extremists step over the line of good judgment; I don’t resent corporate executives because a few have compromised their fiduciary responsibilities; and I don’t resent those with abundance just because they have it. The majority of those who achieved financial independence are good and respectable people. They don’t deserve to be vilified by anyone and especially political candidates looking to garner votes by creating class warfare.

If we continue to portray the wealthy as greedy, insensitive, oppressive capitalists, then we should expect them to flee this hostile environment and seek refuge in safer places. Who then will step up to risk everything on an idea, or invest on faith in the entrepreneur, or provide the working capital for new and growing businesses, or fund noble philanthropic projects? If you think the wealthy won’t leave, think again – they already have. According to the 2000 Merrill Lynch & Gemini Consulting study World Wealth Report, it is estimated that one-third of the wealth of the world’s high-net-worth individuals is safely deposited in offshore financial centers away from the probing eyes of revenue hungry governments. The amount is estimated to be eleven trillion dollars ($11,000,000,000,000). And according to Neal Boortz & Congressman John Linder in their book The FairTax Book, American wealth accounts for 90% of this figure. Can you imagine what our economy could do with an infusion of ten trillion dollars? The exodus has already begun. And sadly, some of these wealthy Americans have forsaken their citizenships for friendlier countries.

I believe it is the dream of every American, regardless of circumstances, to achieve financial independence. But what they will get is financial mediocrity, at best, if we destroy the dream. So the next time you see or hear someone vilify successful Americans, know these are the people who want to penalize others for their own failures and lack of ambition.

Bill Monroe
Southlake, Texas
October 31, 2008

The following little anecdote is clever and amusing but has a very serious message. The author is purportedly an economics professor in Georgia but he has allegedly denied authorship.

Our Tax System Explained: Bar Stool Economics

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.

So, that's what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. 'Since you are all such good customers,' he said, 'I'm going to reduce the cost of your daily beer by $20.' Drinks for the ten now cost just $80.

The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men -- the paying customers? How could they divide the $20 windfall so that everyone would get his 'fair share?'

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay. And so:

The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33%savings).
The seventh now pay $5 instead of $7 (28%savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 (22% savings).
The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings. 'I only got a dollar out of the $20,'declared the sixth man. He pointed to the tenth man,' but he got $10!' 'Yeah, that's right,' exclaimed the fifth man. 'I only saved a dollar, too.

It's unfair that he got ten times more than I got' 'That's true!!' shouted the seventh man. 'Why should he get $10 back when I got only two? The wealthy get all the breaks!' 'Wait a minute,' yelled the first four men in unison. 'We didn't get anything at all. The system exploits the poor!' The nine men surrounded the tenth and beat him up.
The next night the tenth man didn't show up for drinks so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill! And that, ladies and gentlemen, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

For those who understand, no explanation is needed.
For those who do not understand, no explanation is possible.

(Author unconfirmed.)

Thursday, October 30, 2008

Letter to Jeremiah Wright

I sent the letter below in May of this year and did not receive the courtesy of a reply.


May 14, 2008


Reverend Dr. Jeremiah A. Wright, Jr.
Trinity United Church of Christ
400 West 95th Street
Chicago, IL 60628

Dear Dr. Wright:

I believe there needs to be a clear, unmistakable voice, a constant reminder that bigotry and racism have no place in any society. Many of your contemporaries and predecessors took this message beyond their local pulpits at great sacrifice and risk to themselves, their families, and their loved ones. And now, by happenstance, your voice resonates across this land but your tone is very disconcerting.

This nation has come a long way in its efforts to provide equal opportunity and equal access to all of its citizens but, as we all agree, much remains to be done. Will we ever eradicate prejudice and discrimination against those who are different from ourselves? Not until we alter the very nature of humans; in other words, not in this life. So, therefore, we must change the paradigm. But this requires extraordinary effort and great sacrifice. It requires vision, imagination, optimism and a relentless application of the basic fundamentals of courageous leadership. It’s not enough to remind people of where they’ve been or who was to blame – we have to show them what they can become and where they should place their trust. The message of hate and anger has become tiresome and serves only the messenger.

There is no question that your generation suffered terrible indignities and humiliation at the hands of the intolerant and the ignorant. It would be natural for resentment, bitterness and anger to flourish among the persecuted. But where does it end? In a thousand years like the Protestants and Catholics of Northern Ireland? In perpetuity, like the children of Abraham? Is it your dream for the next generation of your congregation to harbor the same hostility that has paralyzed so many of your generation and the generations before you? Or is your dream far more sinister and threatening to our American way of life?

It is troublesome that a man of your age, with your education, wisdom and experience would be blinded by your own prejudices. By the time we reach the autumn of our lives, we should have found the virtues of humility, charity and compassion. And we should have learned how to choose our words carefully especially if words have been used against us. To make poor word choices and then to claim they were misinterpreted or taken out of context is, at its best, an admission of regret and, at its worst, a self-serving attempt to protect one’s self-interests. And this I have observed in my lifetime – those whose profession is public speaking infrequently choose the wrong words.

You are, it seems, a learned man but you only reference authors with whom you agree. As you know, learned men read not only those with whom they agree but also those with whom they disagree. For what better way is there to fully comprehend one’s own convictions. In the end, we must never forget that authors of every generation were and are simply men and women just like us; full of the same desires, weaknesses, and prejudices; given to the same temptations; and shaped by their own life experiences. Wisdom is not the recitation of the thoughts of others but rather the result of our own contemplations.

Let’s be frank – preaching to the converted has limited effect unless the preacher’s motives are not as obvious as the literal message. I contend your controversial messages have been less about the subject than about what is in it for you. You’ve built a large church by playing on the fears, anxieties and frustrations of your congregation. You have failed to apply your great intellect to inspire a new generation of believers.

I fear one day you will stand before the Father and he will say, “This I have against you – that you took the path most often traveled; that you succumbed to the desires of the world; that you promoted hate, hostility and deceit; and that you ignored the Son’s lessons of love, forgiveness, and healing”. I pray the Holy Spirit will descend upon you and remove the calluses from your heart and the scales from your eyes. I will pray that your legacy will not be that of an anarchist and a revolutionary; but rather one of hope and inspiration and that generations to come will accord you great honor and respect.

Your Brother in Christ,



Bill Monroe

WHERE DO WE FIND THE TRUTH?

There was a time in this nation when citizens trusted newspapers for objective, unbiased reporting of news and events, and thorough research and investigations into the issues of our time. And the readers knew they would get the publisher’s opinion in the editorial section of the paper.

Where do they go today for the truth? The media, on both the left and the right, have overtly and repeatedly demonstrated their personal bias throughout their so-called “reporting” and have proven themselves untrustworthy as watchdogs over those who would abridge our rights and our freedoms.

There was a time when journalists were respected and highly regarded members of our society. We depended on them and could count on them as our first-line of defense against those who would manipulate the facts or stretch the truth for their own cause or personal benefit.

There was a time when the distinction between “newspaper” and “tabloid” was readily apparent and obvious. If I were a journalist, I would be ashamed that readers no longer perceive or even know there used to be a difference. It seems the journalists’ view of the world today trumps the citizens’ indispensable requirement for transparency and counter-balance in the understanding and management of our society.

But most amazing is their wisdom, education, experience and knowledge of world history should have taught them that once the media becomes the useful tool of the bullies and the overly-ambitious, the disintegration of the society follows soon thereafter.

The truth of the matter is, the truth is not a constant. And it is for this reason, we must have those in our society who have the courage and the conviction to pursue the truth without fear of intimidation, persecution or retribution. The “pen is mightier than the sword” but who can we trust to pick it up and use it wisely for the common good?

Bill Monroe
Southlake, TexasOctober 30, 2008

Friday, October 24, 2008

Student Pilot

This nation is about to give a student pilot the keys to a fully-loaded 747 flying over hostile terrain. If you are uncertain as to the identity of this student pilot, he'll be the one:

1. Who has no credible leadership experience;
2. Who has limited understanding and experience of or with capitalism’s economic engine;
3. Who believes that redistributing the wealth of our nation is the duty of government, and that it is the patriotic duty of successful Americans to exclusively carry the financial burdens of our society;
4. Who believes that big government is better able to care for the people than the people themselves, and who ignores the overwhelming historical evidence that socialism always produces fatal consequences;
5. Who has the most liberal voting record of any standing U.S. Senator and who believes that voting "present" is an honest representation of his constituency;
6. Who believes that America's premier role in the world affairs has been greatly diminished, will continue to decline in the face of emerging competitive economies, and that America’s best days are behind us;
7. Who believes that restricting a woman's right to choose is, in effect, "punishing" those who have unwanted pregnancies;
8. Who has been mentored by at least three individuals who are nothing short of anarchists, and who has not identified even one mentor who embraces our American culture and its traditional values;
9. Who has not produced one credible individual who can stand up and testify to their long-standing personal relationship or to his character, integrity, and courage;
10. Whose only legitimate talent is his oratory skill which has an amazing ability to convert sympathizers into myrmidons.

If you're still not certain of the identity of this student pilot, he will probably be elected President of the United States not because he is the better candidate but because secular-progressive America so despises our current President and, by association and extension, anyone with a Republican label that they will vote for any alternative regardless of the consequences now and for future generations.

– Bill Monroe –
Southlake, Texas
October 24, 2008