The economic crisis that began in the summer of 2007 caused capitalism's strictest adherents to momentarily question the validity of capitalism. Could the world's most respected and time-tested free-enterprise system be responsible for the near collapse of America's own economy? In a blinding snow storm it is difficult to get your bearings just as in the midst of a cataclysmic economic downturn, it is difficult to pinpoint the causal factors. Fingers point in all directions. Opponents of an unfettered free-market system were happy to join the chorus of government and media critics of capitalism in denouncing its very existence, calling for more government regulation and oversight. 

Capitalism is not pretty. It's peaks and valleys are often devastating to hard working individuals, who find, for no reason of their own, unemployment on the other side of the valley. Capitalism is unfair. At its best, it benefits those who take on risk, innovate and manage to survive its ravages. The benefits are often obscene, even to the most stalwart proponent. At its worst, it pulls the rug from underneath families and loved ones in the form of terminations and downsizing. The costs are also, often obscene, even to the most stalwart proponent. But Capitalism, despite all of its flaws and inequities, is a marvelous system. When it is working, it does not create a few jobs, it creates millions. When it is working, it does not benefit a few, it benefits many. When it is working, family, friends and neighbors can afford to live in homes that are the envy of the world. When it is working we can afford to send our children to colleges and universities. Capitalism is the best economic model that ever existed in the history of man. And it cannot be regulated. Not by the U.S. government, not by a world-wide consortium, not by God. It can only be destroyed or set free.

Right now capitalism, is being destroyed. Well-meaning government bureaucrats, who mistakenly believe they have the capability to manage capitalism, are destroying it. Regulations and mandates to fine tune our capitalist system, are instead, acting like chemotherapy -  attempting to kill the deficiencies of capitalism, without killing the patient. But the patient is dying. Government interference in the private sector is tearing at the fabric of capitalism. Government's effort to manage capitalism through greater regulation is doing far more harm than good. Through regulation, it is trying to manage capitalism's latest valley, what is being called the Great Recession. The jobless recovery is a symptom of government working against capitalism and not for it and it will continue until those in leadership grasp the fundamental truth vis-a-vis capitalism: it cannot be managed.

Today there is a chorus of voices singing the need to tax the wealthy. These voices have many rationalizations. Some argue that higher taxes on the wealthy is necessary in order to prevent higher deficits. Some argue that the rich simply do not pay their fair share of taxes. Some argue that it is necessary in order to preserve our middle class. All of the arguments are great sound bites. These voices, I believe exist because they have never been educated at home or in our school system as to American principles. The American Dream is not a dream of government providing for our every need, as many have been taught. Rather, it is the idea that we are, as Americans, self-reliant. Our founders went to great lengths to limit the powers of government. That is why we have three branches of government. They understood a very fundamental reality. Government at its best is but a necessary evil (Thomas Paine). Our founders fought to create a country unparalleled in the history of man. A country in which government is intentionally fractured and split into three parts necessarily creates a weak government, where power is shared and not monopolized. Our founders did this so that the American Dream could become a reality to future generations. 

What is the American Dream? It is the idea that individuals or families can rise from poverty to wealth in one or two generations and keep most of that wealth to themselves and out of the government's hands. It is the idea of unlimited prosperity and the individual's right to that prosperity (property rights). Those who embrace the American Dream, who chase it and catch it and thus, benefit from it financially, should be honored and held up as heros to our children in homes and schools across the nation. The very idea of taxing  wealthy individuals more than everyone else is antithetical to the American Dream. Taxing those who achieve the American Dream more than everyone else sends a loud and clear message: The American Dream is bad and anyone who realizes the American Dream will be punished by the government. Why is it that immigrants from the corners of the earth risk life and limb to get to America? The American Dream. Why is it that an individual would desire to create DOS and then Microsoft (Bill Gates)? The American Dream. Why is it that an impoverished child from Scotland can create the largest steel company in the world (Andrew Carnegie)? The American Dream. The stories of poor individuals succeeding in America is well-known. We have something no other country in the world has ever had - we have the American Dream.This dream requires the existence of capitalism. Unfettered capitalism (meaning very little government interference and competition with the private sector).

Today the American Dream is at risk, as a dependency mindset is being fed to the masses by our federal government and as the government attempts to emasculate capitalism through regulations and mandates. As capitalism goes, so too goes the American Dream. The concept of the redistribution of wealth is fatal to capitalism and the American Dream. Punitive taxation of those who achieve the American Dream (politicians call them the "wealthy"), so their wealth may be redistributed to lesser achievers acts as a disincentive to future American Dreamers. Punitive taxation of the successful, the wealthy, the American Dream achievers results in fewer jobs and, thus, less wealth for everyone, not just for the wealthy. The unemployed cannot innovate, pay taxes or contribute to society. In fact, they are a drain on society. The cause of our current jobless recovery is the federal government's war on capitalism and the American Dream. This is intentional. Our federal government has become too powerful and is seeking more power over the lives of ordinary Americans. If this administration succeeds in its efforts to socialize America, it will mean the end of the American Dream and the end of America as we know it. Instead of immigrants risking life and limb to reach our shores, the tables will be turned. It will be Americans leaving our shores (our children) to seek the American Dream elsewhere.