The goal of the modern progressive party is equality for all. Does that mean I will be as rich as Bill Gates is now, or does it mean that Bill Gates is heading for an awful drubbing, and will be as "rich" as I am, right now? I will sign on immediately to the first proposal but I doubt Bill Gates will sign onto the second proposal. Why should he? He almost single handedly changed the world; I changed the way a few thousand people paid their mortgage. Hardly equal under any approach to even the playing field!
But let's take a closer look. About 25 years ago I settled on becoming a real estate broker after working in finance and being a real estate developer specializing in refurbishing old commercial and residential buildings. I began the new venture as interest rates started falling from double digits to around 6 percent. Once I started, I realized that real estate financing was the best option for me and formed a company. Over the last 20 years I employed at least 100 people and together we enriched each other's lives. I sold the company in 2007 and the majority of my employees and associates are still in the business doing very well. I now have another small company that is doing fine.
Now did Bill Gates do anything different than that? He didn't invent the computer or the internet, but he certainly developed a better way to use both. He started a company and also an industry. For every 10 employees I have had he has had tens of thousands.
He gives annually more to charity than I will ever earn. I may give more, percentage-wise, than he does - but I doubt it. More to the point he makes millions of people better from his gifts and the world is better for his accomplishments.
The one equality Bill Gates and I shared is the ability to do what we wanted, when we wanted and we each created to our ability. My life has been a dream because I could make as many mistakes as I could afford and still go on. I dare say this freedom to be or do what you want was exactly the same for Bill Gates as I experienced. We both were FREE to do what we wished and that is all you should ever want!
Am I envious of Bill Gates, hardly! Do I salute Bill Gates, absolutely! Now you can see that the equality this country is now seeking will never work and worse, will kill those who have the dream, the desire and the work ethic it will take to keep us the number one country in the world. Aside from the fact that redistribution of wealth is just legalize stealing it also kills initiative. If we kill initiative in the medical industry we soon will be going to Canada for our catastrophic illness, instead of the way it is today.
Roger Schlesinger's Mortgage Minute is heard on hundreds of radio stations and daily on the Hugh Hewitt radio show and Michael Medved shows. Roger interacts with his hosts and explores the complicated financial markets in order to enlighten his listeners and direct them along their own unique road to financial freedom.