The following has been adapted from a Wendy McElroy blog posted October 28, 2008. If you have assets or earn money, I think you’ll appreciate it. Rang pretty true to me.
While going to breakfast at my favorite diner, I saw a homeless man near the restaurant holding a handmade sign asking for a handout.
I entered the restaurant to have a nice breakfast comprised of 2 eggs, toast and orange juice and had a conversation with the waiter who noticed an article in the newspaper that I was reading about redistribution of wealth, a hot campaign topic in the recently concluded US Presidential election.
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With $300 billion dollars of the $700 billion bailout already spent, the race is on among companies to get in on the handout.
Last week, the US auto industry tried to stake its claim to the $400 billion left on the table by asking for a $25 billion government loan. As recently as last Thursday, Democratic lawmakers were working on a bailout package to help the US auto industry while Republican members of the house stood strongly opposed to such a measure. (Source USA Today 11/13/2008)
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President Obama….as odd as it sounds today, in a year or so, it will roll off your tongue. But, here’s the big question, how will an Obama presidency affect the way that you manage your assets?
While there’s always a disparity between the promises that a politician makes when running for office and what a politician actually does once in office, this time around the potential for a larger disparity than we might normally expect from a politician looms large.
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