Bernie Sanders has never held a real job in his entire life.
Holding office at any level is not a job. I’ve met several politicians on all levels through my years of political involvement and writing this blog. Every year that goes by with them holding power in office, they lose sense of reality in how economics works and they surround themselves with foot soldiers who worship them. Bernie Sanders economic philosophy this Presidential campaign is that of more government spending to cure America’s ails while using political power to threaten business into what he wants.
His latest Tweet furthers solidifies his love affair with an economic theory promoted by Karl Marx.
This message shows just how out of touch he is with reality. Starting a business or running one is not easy. This theory he provides “worker owned enterprises” is pie in the sky that fails the test of time. Here is why:
When you decide to start a business most people have to raise capital(money). This is by borrowing from a bank, investors or your own personal savings. Notice how the “worker” who is yet hired isn’t in this process.
“The worker” and the government always get instant gratification. “The worker” starts drawing a paycheck. When you employ someone, you have to immediately pay into social security/medicare by matching half of what they contribute. The tax revenue starts flowing to the government almost immediately as well. I won’t even get into workman’s comp, liability insurance, Obamacare taxes, etc.
Furthermore, “The Worker” is not left holding the bag if the business fails. They maybe unemployed for a short time, but it is the owner who may feel the effects for decades. I know one failed business owner who took 10 years to pay off a home equity loan they used for their start up.
Maybe Bernie needs to put his money where his mouth is.