“We were born a nation of entrepreneurs. That is why so manypeople came to this country from so many different nations and culturesaround the globe. The entrepreneur sees the opportunity, takesaction, and successfully learns from the experience. They go on tocreate wealth. They become part of that demographic that is called“the rich.” They, not the government, drive the economy and createjobs. Only a mind with an envious, greedy perspective would considerpunitively taxing the rich as a viable solution to our fiscal miasma.This is a solution springing from the fount of ignorance and deemedwise only by fools.”

“It is an oft-repeated axiom that a person can learn a whole lot abouta society by how it treats its poor; but just as much may be learnedby looking at how that same society treats its rich. Indeed, the economicfuture of the poor—and our nation—will be determined in the coming decades by how we treat the people in this country who create great wealth. It will be determined by our understanding of theso-called rich and by our need to foster and protect this minority oftrue wealth creators.”

“There is a major difference between theoretical knowledge andexperiential knowledge. Academics think they know how the economyshould work; successful business owners know how the economy doeswork. They have been there and done it. Our government should beturning to those who have experiential knowledge when it comes tosolving our fiscal problems. They would realize that many of theircurrent policies may sound good but don’t work in the real worldand must be abandoned. They would spend less and live within theirmeans. They would be promoting the creation of more entrepreneursand business owners, instead of hiring more bureaucrats, consultingmore academics, and enlisting more lawyers to harass and prosecutethe true wealth creators of this nation.”

“Central planning inevitably leads to economic chaos and failure.Friedrich Hayek called the delusion that a single person or a groupof government planners could possibly possess the knowledge to planan entire economy a “fatal conceit.” The overwhelming historicalevidence is that the more freedom a nation has, the more economicopportunities will exist and the more dynamic that nation’s economywill be. Likewise, the more regulations, controls, taxes, governmentrunindustries, protectionism, and other forms of interventionism thatexists, the poorer the country will become.”

“I strongly believe that the best economic policyfor any administration is the one that seeks to produce more entrepreneurs,not just more minimally educated college graduates withnowhere to go. Nothing against recent college graduates, but manyof today’s best universities are no longer providing the basics of aclassical liberal education.That is why the single most important economic issue of ourtime—and one that impacts the poor and middle class alike—will behow we treat the entrepreneurs and wealth creators among us, fromboth the government and the private-sector viewpoints.”

“There is nothing inherently evil in the process of making money,and the notion is illogical, but that is one of the underlying tenetsin our present education system. We are taught from an early agethat making money is hard and that those who make lots of moneyare morally suspect. American culture studies programs at some ofthe nation’s leading universities have even gone so far as to teach theabsurd and illogical notion that the rich became rich because theyenjoy privilege earned on the backs of African slaves. Minoritymillionaires like entrepreneur Herman Cain, Earl Graves, Sr., andReginald F. Lewis prove the utter nonsense of this notion, yet thisis the illogical Progressive philosophy that has permeated our educationsystem.”

“trade and wealth creation is not all upside. It is failure, too.Failure is a necessary component to growth and success. Babe Ruthstruck out 1,330 times but also hit 714 home runs. We need to letfailing entities fail. Only then will successful people turn these enterprisesback into wealth-creating vehicles again. “Too big to fail” is aconcept that perpetuates failure and saps vitality from the rest of thewealth creators to do so.”