This nation was founded on the principle of wealth creation. As
a young Henry Clay said in the House of Representatives in 1812,
“It [wealth creation] is a passion as unconquerable as any with which
nature has endowed us. You may attempt to regulate — you cannot
destroy it.” That is supposed to be the federal government’s primary objective.
It is supposed to promote the creation of an environment conducive
to the creation of wealth — not job creation, not bailouts, not subsidies,
not expansion of the federal bureaucracy, and not providing lifetime
support to those who choose not to take advantage of the innumerable
opportunities that exist in this nation for them to create a better,
more productive life for themselves.

The question is not whether we should or should not regulate; it
is how much should we regulate and who the regulators should
be. We went overboard on deregulation under Reagan. Under
Bush, many people lost in the casino. Now we have the Obama
administration overreacting and overreaching with regulation that
does the exact opposite of wealth creation. If we are to have change
we can believe in, then we could start by replacing the majority
of the lawyers in regulatory agencies with actual experienced, successful
business veterans. They would have recognized the early warning
signs of many of the financial debacles created by the bubble-bust
cycle.

To create real wealth you must abandon your limited thinking, eliminate boundaries, and stop defining the outcome. Most importantly it means not letting people motivated by jealousy, greed, and envy dictate what your limitations are.

You have to take risks in life. Your actions are what count.

Commerce is considered by classical economists to be a positive-sum
game. The act of selling and buying always benefits both the seller
and the buyer. It is unfortunate that popular culture has propagated
the Marxist myth that one person gains in business at the expense of
another, that capitalism is evil because it is a zero-sum game — somebody
wins while someone else loses. When liberals make the argument
that capitalism is the cause of all of our problems, they are either
speaking out of abject ignorance or being totally disingenuous to
protect their interests. We have not had true free-market capitalism
in this country on any wide scale. Where we have had economic
successes in this nation’s history, it has been those times when people
have done something outside of the government’s involvement. Every
time the federal government has been involved, it has created chaos,
waste, and corruption.

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The Boston Consulting Group recently released a study showing that
there were 5.2 million households in America that could be classified
as millionaires.1 I would love to see a candidate for national office,
especially president, come out and announce that his platform was
squarely oriented toward creating wealth, that in 8 to 10 years we
would have 50 million millionaires in America.