MP Wealth Advisors Blog
Rehash - 1/28/2011 PDF Print E-mail
Written by Dan Petrey   
January 28, 2011

As much as things change they stay the same. Listening to the State of The Union address last night made me deliberate on the realization that actions should really be scrutinized to determine character. While society seems to say less evil things related to business and capitalism, until policies are implemented to promote free market capitalism there will be no real change. I thought I would republish one of my favorite articles from October 2009.

From my office I can see the United States flag flying on a nearby rooftop. I often look at the Flag on a breezy day and comment to anyone who will listen that I enjoy seeing "Old Glory" fly. I will sometimes quickly reflect on the sacrifices many have paid before us so that our Flag can represent our Republic. I admire the obstacles we have overcome and realize that if we so choose, our nation can conquer any enemy.

It seems lately that Capitalism is becoming a sinister word and somehow remotely responsible for the troubles we find ourselves in. I shudder at that thought, and admire the productivity capitalism has provided the citizens of this great country. Where else do you hear so many "rags to riches" stories, and where else can someone reap the rewards of a skill or service so readily. Capitalism should be cultivated, nourished, and cared for instead of being punished, mocked, or sneered. I often overhear people mentioning that more regulation is necessary to prevent corporate corruption. I would argue that regulators are already in place to prevent the aforementioned malfeasance. You do not need more regulators to monitor someone if that someone were doing their job in the first place. A business person will attempt to run their business as efficiently and as profitable as possible. As an example, if a business is assessed more in taxes that business will find a location where taxes are lower, if at all possible. If a business person believes their rent to be too high, and negatively affecting the bottom line, they will find a good location where rent is lower. These are not evil minded plots set to destroy America, but efforts to grow profitability and growth will lead to jobs. Consequently, jobs will provide more tax revenue. Over the years it seems Capitalists or Business Owners are increasingly becoming the victims of society instead of the foundation.

Someone once asked me my thoughts on the definition of the American Dream. I reflected on my own ancestry and replied that I believed it was the next American generation having it better off than the previous. Sadly, I believe we have decided on a course of action where that Dream may no longer be feasible. I know this generation, and the next, will have newer gadgets and more technological advances but will they have a better quality of life? Can we expect our children and their children to pay the debt for our current way of life? Can we continue to provide jobs in an environment that seems to unjustly punish the very providers of those jobs? Will small businesses continue to flourish, in spite of the obstacles, and provide the very backbone of this great nation? Will devaluing the dollar continue to cause cost push inflation and lower future standards of living?

As I write this article, I can see "Old Glory" flying and I can hear the shouts of some protestors on the corner of Truxtun and Chester streets. Isn't it wonderful that we still have the opportunity of free speech? I cannot hear exactly what they are protesting over, nor can I read their signs from here, so I have no idea if I support or oppose their agenda. However, I applaud their tenacity and right to express their viewpoints in a lawful manner. Hopefully they already put in a day's work at some respectable local business owned by a hard working, intelligent, righteous, law abiding, and local capitalist. Let us pray our country chooses to enact policies that reward and not punish those Capitalists.
Written By: Daniel Petrey, CFO, MBA

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