United States, New York, New York - 11/17/2020 — Here’s a question that a lot of people ask me...why am I so political if my goal is to economically empower people? After all, shouldn't politics and economics remain separate?
This is an incredibly stupid question. If you believe for one second that politics and economics are completely separated in America, you’re blindly living some sort of false reality. The fact is economics and politics are deeply intertwined. History has shown that economics and politics are mutually inclusive and reactive, meaning if one changes, it will have a direct effect on the other. Thus, it makes it impossible to talk about our economy or investing decisions without addressing politics.
One of the ways that politics affects economics is the agenda of the political party in charge. The right side pushes for capitalism. They help to build real wealth creators and allow the freedom for anyone who wants to seek wealth to go out and get it. They don’t seek to create dependency on the government. They promote economic self-sufficiency. However,the left side pushes more of a socialist agenda. They create what I like to call welfare-politics. They want the people to depend on the government to control their economic stance. There is less room to build self-sufficient wealth and a push to deter people away from becoming wealth creators. They operate on the premise that the people should become reliant on the government to supply them with their needs and nothing more. They make it more difficult to accumulate economic freedom.
Secondly, the government has control over the regulations put in place for business owners. While the right side pushes for deregulation of business, the left side seeks to put tons of restrictions on the way a person can operate their business. Fewer regulations give a business a better opportunity to grow and expand. It gives them the opportunity to create more wealth and more well-paying jobs for the public. More regulation takes away from a business owner's ability to grow and if the business doesn’t grow there is less opportunity to create more jobs. It dwindles the job pool down drastically and forces people to become government servants. Not to mention, it also takes away from one's ability to create their own wealth.
The last point I'll make on how politics impacts the economy is tax regulations. The government controls tax brackets and percentages. The right side pushes to lower taxes keeping more money flowing into the household of Americans. On the other hand, the left side generally pushes to raise taxes on the rich as yet another way to deter people from creating wealth. They try to frame it in such a way that “because the rich make more money, they have a duty to pay more taxes.” This is bullshit because taxes are based on percentages. If all tax rates were the same 30% across the board, naturally the people who make a million per year would pay more than the people that only make 50 thousand just because 30% of a million is already more than 30% of 50 thousand. At the end of the day, their reasoning behind it is all a facade and in reality is a way to push the wealthy to carry the bill for the government financial dependency they are forcing Americans into.
So when people ask me why I am so political, it’s not because I'm just some money grubber looking to make more money while keeping other people down. It’s because I know the truth is that wealth equates to freedom. Supporting the political side that empowers the ability for people to create wealth, is a push for freedom for all. No one wants to live in a world enslaved by the constrictions of a government that only wants to supply you with just enough to survive. Everyone wants to strive to create the best lives for themselves and their families. Welfare-politics isn’t the answer to that. If we want to end poverty, we have to go out and create wealth and empower others to do so. We have to grow our businesses and provide America with more well-paying jobs. We have to invest in new small businesses and strengthen the backbone of the American economy. We don’t need a handout, we need a plan of action.
Ziad K. Abdelnour, Chairman, President & CEO of Blackhawk Partners Inc, is widely regarded as one of the world's top business leaders. In addition to being a best-selling author, he is also a founder and Chairman of the board of the Financial Policy Council.
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