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By Catholic Online (NEWS CONSORTIUM)

10/12/2012 (1 year ago)

Catholic Online (www.catholic.org)

America's wealthy are worried about Obama who is scapegoating them.

The wealthy are worried and they're buying ad time to make their case to the American people as to why they are not the villains Obama is making them out to be. One billionaire, Thomas Peterffy, has already spent $5 million for ads that inform voters about the risks of socialism.

Peterffy is a living embodiment of the American dream, but now Obama says he's not paying his fair share.

Peterffy is a living embodiment of the American dream, but now Obama says he's not paying his fair share.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

10/12/2012 (1 year ago)

Published in Politics & Policy

Keywords: Peterffy, taxes, Obama fair share, American dream


LOS ANGELES, CA (Catholic Online) - At some point, it became unpopular to be successful. Particularly if that success came with wealth. The Obama campaign has capitalized on this, accusing the wealthy, who pay billions in taxes each year, of not paying their fair share. 
For some, it's a slap in the face after they have contributed millions in revenues to the government. 

The great concern is that the government with its creeping tax hikes on the wealthy is essentially sneaking socialism in via the back door. After all, politicians gain easy votes by pledging to take from the rich to give to the poor. 

What must be understood is that America was a nation founded by businessmen who wanted economic freedom among others. Most of the founding fathers were businessmen of one sort or another. Weary of what they saw as excessive taxation and regulation, they combined with other frustrated colonists to cast off British rule. 

Their success allowed them and their descendants, right down to us, the world's wealthiest nation. It is also a land of unbridled opportunity, permitting anyone with a good idea and a willingness to work to build a fortune for themselves. 

This is what Thoman Peterffy did. He was born in Hungary in 1944, as the Red Army attacked that country's capitol. He grew up impoverished in the subsequently established socialist state. In 1965, he managed to emigrate to the US, where he became a computer programmer on Wall Street. 

Peterffy learned English, and eventually created a program that allowed brokers to make trades online. He built his business, "Interactive Brokers" and eventually paid nearly $2 billion in taxes on it. 

He has created jobs, and donated to causes. 

Yet, he is being told that he's not doing enough by the rhetoric of the Obama administration. 

Peterffy is worried that anti-capitalist rhetoric of the administration could dissuade millionaires and billionaires from creating jobs and take their money elsewhere. This has happened in France, where overtaxed elites have already begun a mass exodus in the face of ever-increasing tax rates. 

Paterffy crated a commercial that does not mention political parties, but shares his concerns with viewers. He hopes that people watch and carefully consider their decision this November. There is more at stake than many people realize. 


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