Grand Rapids, MI -- (SBWire) -- 05/21/2010 -- Earlier this month President Barack Obama gave a speech in which he stated that at a certain point people have made ‘enough money.’ With entertainers receiving millions of dollars per movie and athletes signing contracts with lots and lots of zeroes in them, one might believe the American public has become numb to large paychecks and fair monetary return for hard work, good ideas, and free enterprise in general.
While that may be the case in some quarters, Dennis Tubbergen, CEO of USA Wealth Management LLC, a federally registered investment advisory company, takes exception to the president’s statement.
“Being aware of the many new taxes that are part of the healthcare reform legislation recently passed, I get the sense that he (President Obama) and his colleagues in Washington would like to have a chance via the tax system to decide for every American business how much money is enough money,” Tubbergen notes. “Even if you’re not in business, this whole notion of ‘government knows best’ ought to scare you as far as I’m concerned.”
Tubbergen, a noted financial advisor, goes on to explain there have always been those who have tried to pursue the idealistic goal of total and complete financial equality, but those people have always failed. “As one former U.S. President said, ‘You don’t strengthen the weak by weakening the strong,’” he emphasizes.
According to Tubbergen, talk show host Phil Donahue was lectured on this topic by well-known economist Milton Friedman on a show broadcast in 1979. Donahue was discussing the inequities in the distribution of wealth in the world, and Friedman, a recipient of the Nobel Memorial Prize in Economics, reminded Donahue that the poor of the world are far better off where capitalism and free enterprise rule.
On May 1st in his commencement address to the University of Michigan’s 2010 graduating class, President Obama stated, “For all the arguments and all the doubts and all the cynicism that’s out there today, we should never forget that as Americans, we enjoy more freedoms and opportunities than citizens in any other nation on Earth.” (Taken from The Michigan Daily, May 1, 2010.)
Those freedoms and opportunities include each individual’s right to acquire wealth.
For more information on Tubbergen’s views and wealth management philosophy, visit http://www.dennistubbergen.com.
The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.
How Much Money is Enough Money?
Noted financial advisor believes everyone has the right to acquire wealth.