congratulations for Obama.
but there are just a few couple of things, that i worry about.
first the Asian market/economy. Obama is against outsourcing work outside US. There is a big chance that he may impose taxes for industries that would want to employ people outside US. Bigger taxes for industries, and companies, means lower income for employees. A lot of developing countries (such as my country, Philippines, India, etc) depend on industries that employ workers outside of America for a decent amount of income.
I work for 2 US based companies. IF a higher tax is imposed, that would mean a lower income for us. They have 2 options, lower our wages, or cut back on manpower. A lower income is not fit for us, who are already struggling with our economy. our currency is losing against dollar. although we get paid in dollars, which mean a higher exchange rate, prices for food, gas, shelter are getting higher. So the income that we make is not in equilibrium with the bills, and prices we have to pay. If we don´t get satisfied with the income we are getting, there is no point in working for a minimum amount of wage. It is a loss for us, AND the companies that we are working for. Why for the companies? because they had to pay taxes that was imposed to them, and yet they would lose employees that cannot work for minimum wage, or they will not have enough manpower that they need to support their business. a lot of us are becoming anxious, because our employers are getting anxious on what to expect as well. so i don´t know what will happen about that.
although are economies are separate, we are still a global economy. a failure in one economy, will eventually affect the other.
another thing is the wealth redistribution. The concept does sound good, from the point of view of those who will receive the money. However, for the people who are working hard to earn the money, and lose a part of the profit they are making to be redistributed to non-working people in society... it doesn´t sound unfair. It is not wrong to help people who are in need. But why take money from other people´s pocket to be given to people who are not even working?
How will this wealth redistribution be implied? Again, through taxes. The money that you are working hard for... you will be taxed for it, to be redistributed to people who don´t have work. hmmmm... i dunno what better way to explain it... ok i´ll try to give an example...
Let´s try to see it in a simplified form.
A girl walks past a homeless guy, carrying a sign saying he needs money. She walks across the street, goes to a restaurant, orders food and pays the bill. The waiter that had worked for her, waiting on her order, serves her food, does every request she makes, is waiting for her to pay the bill, and of course with the expectation of a tip. After all, he worked hard enough for her to be satisfied. But then as she pays the bill, she refuses to give him a tip... why? because she will redistribute the money to the homeless guy that needs it. A noble act from the girls pov, because helping the homeless is a good thing. But what about the waiter who had worked for money? Why should it be his loss, when he is the one working hard for it? that is how wealth redistribution works. at least that´s how i see it.
(this actually did happen...the customer didn´t give him a tip because he wanted to give it to the homeless guy waiting outside. the waiter was really frustrated about it)
i have relatives that are immigrants in the US. it´s hard for them to cope with taxes already, and this wealth redistribution.... it just.... sucks...
Everything that you are working hard for, a part of that will be redistributed to other people. we are all already suffering in an economic crisis as it is, and to be taxed again for it? it´s just too much i think. Wealth redistribution is not the solution.
Why not give more job opportunities to support those who don´t have work, and are in need of money, instead of using other people´s income?
I´m just speaking from my own personal point of view. my own opinion. how i see it affects me, my country, and my relatives that live in US.
but then again... i guess i´ll just have to wait and see what this new regime can bring to all of us...
(come to think of it, politicians are notorious for making promises they can´t keep.... hmmm... let´s just wait and see... )
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