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This letter was written by a man in East Texas as an open letter to Senator Obama. He really does exist and says anyone can email his letter around, just don't change it. If you know someone who holds to the theory that the rich have life easy and need to be taxed more send it to them. This man tells it like it is! ************* Mr. Obama, Given the uproar about the simple question asked you by Joe the plumber, and the persecution that has been heaped on him because he dared to question you, I find myself motivated to say a few things to you myself. While Joe aspires to start a business someday, I already have started not one, but 4 businesses. But first, let me introduce myself. You can call me "Cory the well driller". I am a 54 year old high school graduate. I didn't go to college like you, I was too ready to go "conquer the world" when I finished high school. 25 years ago at age 29, I started my own water well drilling business at a time when the economy here in East Texas was in a tailspin from the crash of the early 80's oil boom. I didn't get any help from the government, nor did I look for any. I borrowed what I could from my sister, my uncle, and even the pawn shop and managed to scrape together a homemade drill rig and a few tools to do my first job. My businesses did not start as a result of privilege. They are the result of my personal drive, personal ambition, self discipline, self reliance, and a determination to treat my customers fairly. From the very start my business provided one other (than myself) East Texan a full time job. I couldn't afford a backhoe the first few years (something every well drilling business had), so I and my helper had to dig the mud pits that are necessary for each and every job with hand shovels. I had to use my 10 year old, 1/2 ton pickup truck for my water tank truck (normally a job for at least a 2 ton truck). A year and a half after I started the business, I scraped together a 20% down payment to get a modest bank loan and bought a (28 year) old, worn out, slightly bigger drilling rig to allow me to drill the deeper water wells in my area. I spent the next few years drilling wells with the rig while simultaneously rebuilding it between jobs. Through these years I never knew from one month to the next if I would have any work or be able to pay the bills. I got behind on my income taxes one year, and spent the next two years paying that back (with penalty and interest) while keeping up with ongoing taxes. I got behind on my water well supply bill 2 different years (way behind the second time... $80,000.00), and spent over a year paying it back (each time) while continuing to pay for ongoing supplies C.O.D.. Of course, the personal stress endured through these experiences and years is hard to measure. I do have a stent in my heart now to memorialize it all. I spent the next 10 years developing the reputation for being the most competent and most honest water well driller in East Texas. 2 years along the way, I hired another full time employee for the drilling business so that we could provide full time water well pump service as well as the well drilling. Also, 3 years along the path, I bought a water well screen service machine from a friend, starting business # 2. 5 years later I made a business loan for $100,000.00 to build a new, higher production, computer controlled screen service machine. I had designed the machine myself, and it didn't work out for 3 years so I had to make the loan payments without the benefit of any added income from the new machine. No government program was there to help me with the payments, or to help me sleep at night as I lay awake wondering how I would solve my machine problems or pay my bills. Finally, after 3 years, I got the screen machine working properly, and that provided another full time job for an East Texan in the screen service business. 2 years after that, I made another business loan, this time for $250,000.00, to buy another used drilling rig and all the support equipment needed to run another, larger, drill rig. This provided another 2 full time jobs for East Texans. Again, I spent a couple of years not knowing if I had made a smart move, or a move that would bankrupt me. For the third time in 13 years, I had placed everything I owned on the line, risking everything, in order to build a business. A couple of years into this, I came up with a bright idea for a new kind of mud pump, a fundamentally necessary pump used on water well drill rigs. I spent my entire life savings to date (just $30,000.00), building a prototype of the pump and took it to the national water well convention to show it off. Customers immediately started coming out of the woodworks to buy the pumps, but there was a problem. I had depleted my assets making the prototype, and nobody would make me a business loan to start production of the new pumps. With several deposits for pump orders in hand, and nowhere to go, I finally started applying for as many credit card as I could find and took cash withdrawals on these cards to the tune of over $150,000.00 (including modest loans from my dear sister and brother), to get this 3rd business going. Yes, once again, I had everything hanging over the line in an effort to start another business. I had never manufactured anything, and I had to design and bring into production a complex hydraulic machine from an untested prototype to a reliable production model (in six months). How many nights I lay awake wondering if I had just made the paramount mistake of my life I cannot tell you, but there were plenty. I managed to get the pumps into production, which immediately created another 2 full time jobs in East Texas. Some of the models in the first year suffered from quality issues due to the poor workmanship of one of my key suppliers, so I and an employee (another East Texan employed) had to drive across the country to repair customers' pumps, practically from coast to coast. I stood behind the product, and made payments to all the credit cards that had financed me (and my brother and sister). I spent the next 5 years improving and refining the product, building a reputation for the pump and the company, working to get the pump into drill rig manufacturers' product lines, and paying back credit cards. During all this time I continued to manage a growing water well business that was now operating 3 drill rig crews, and 2 well service crews. Also, the screen service business continued to grow. No government programs were there to help me, Mr. Obama, but that's ok, I didn't expect any, nor did I want any. I was too busy fighting to make success happen to sit around waiting for the government to help me. Now, we have been manufacturing the mud pumps for 7 years, my combined businesses employ 32 full time employees, and distribute $5,000,000.00 annually through the local economy. Now, just 4 months ago I borrowed $1,254,000.00, purchasing computer controlled machining equipment to start my 4th business, a production machine shop. The machine shop will serve the mud pump company so that we can better manufacture our pumps that are being shipped worldwide. Of course, the machine shop will also do work for outside companies as well. This has already produced 2 more full time jobs, and 2 more should develop out of it in the next few months. This should work out, but if it doesn't it will be because you, and the other professional politicians like yourself, will have destroyed our countrys' (and the world) economy with your meddling with mortgage loan programs through your liberal manipulation and intimidation of loaning institutions to make sure that unqualified borrowers could get mortgages. You see, at the very time when I couldn't get a business loan to get my mud pumps into production, you were working with Acorn and the Community Reinvestment Act programs to make sure that unqualified borrowers could buy homes with no down payment, and even no credit or worse yet, bad credit. Even the infamous, liberal, Ninja loans (No Income, No Job or Assets). While these unqualified borrowers were enjoying unrealistically low interest rates, I was paying 22% to 24% interest on the credit cards that I had used to provide me the funds for the mud pump business that has created jobs for more East Texans. It's funny, because after 25 years of turning almost every dime of extra money back into my businesses to grow them, it has been only in the last two years that I have finally made enough money to be able to put a little away for retirement, and now the value of that has dropped 40% because of the policies you and your ilk have perpetrated on our country. You see, Mr. Obama, I'm the guy you intend to raise taxes on. I'm the guy who has spent 25 years toiling and sweating, fretting and fighting, stressing and risking, to build a business and get ahead. I'm the guy who has been on the very edge of bankruptcy more than a dozen times over the last 25 years, and all the while creating more and more jobs for East Texans who didn't want to take a risk, and would not demand from themselves what I have demanded from myself. I'm the guy you characterize as "the Americans who can afford it the most" that you believe should be taxed more to provide income redistribution "to spread the wealth" to those who have never toiled, sweated, fretted, fought, stressed, or risked anything. You want to characterize me as someone who has enjoyed a life of privilege and who needs to pay a higher percentage of my income than those who have bought into your entitlement culture. I resent you, Mr. Obama, as I resent all who want to use class warfare as a tool to advance their political career. What's worse, each year more Americans buy into your liberal entitlement culture, and turn to the government for their hope of a better life instead of themselves. Liberals are succeeding through more than 40 years of collaborative effort between the predominant liberal media, and liberal indoctrination programs in the public school systems across our land. What is so terribly sad about this is this. America was made great by people who embraced the one-time American culture of self reliance, self motivation, self determination, self discipline, personal betterment, hard work, risk taking. A culture built around the concept that success was in reach of every able bodied American who would strive for it. Each year that less Americans embrace that culture, we all descend together. We descend down the socialist path that has brought country after country ultimately to bitter and unremarkable states. If you and your liberal comrades in the media and school systems would spend half as much effort cultivating a culture of can-do across America as you do cultivating your entitlement culture, we could see Americans at large embracing the conviction that they can elevate themselves through personal betterment, personal achievement, and self reliance. You see, when people embrace such ideals, they act on them. When people act on such ideals, they succeed. All of America could find herself elevating instead of deteriorating. But that would eliminate the need for liberal politicians, wouldn't it, Mr. Obama? The country would not need you if the country was convinced that problem solving was best left with individuals instead of the government. You and all your liberal comrades have got a vested interested in creating a dependent class in our country. It is the very business of liberals to create an ever expanding dependence on government. What's remarkable is that you, who have never produced a job in your life, are going to tax me to take more of my money and give it to people who wouldn't need my money if they would get off their entitlement mentality asses and apply themselves at work, demand more from themselves, and quit looking to liberal politicians to raise their station in life. You see, I know because I've had them work for me before. Hundreds of them over these 25 years. People who simply will not show up to work on time. People who just will not work 5 days in a week, much less, 6 days. People always looking for a way to put less effort out. People who actually tell me that they would do more if I just would first pay them more. People who take off work to sit in government offices to apply to get free government handouts (gee, I wonder how things would have turned out for them if they had spent that time earning money and pleasing their employer?). You see, all of this comes from your entitlement mentality culture. Oh, I know you will say I am uncompassionate. Sorry, Mr. Obama, wrong again. You see, I've seen what the average percentage of your income has been given to charities over the years of 2000 to 2004 (ignoring the years you started running for office - can you pronounce "politically motivated"), you averaged less than 1% annually. And your running mate, Joe Biden, averaged less than ΒΌ% of his annual income in charitable contributions over the last 10 years. Like so many liberals, the two of you want to give to the needy, just as long as it is someone else's money you are giving to them. I won't say what I have given to charities over the last 25 years, but the percentage is several times more than you and Joe Biden. combined (don't you just hate google?). Tell me again how you feel my pain. In short, Mr. Obama, your political philosophies represent everything that is wrong with our country. You represent the culture of government dependence instead of self reliance; Entitlement mentality instead of personal achievement; Penalization of the successful to reward the unmotivated; Political correctness instead of open mindedness and open debate. If you are successful, you may preside over the final transformation of America from being the greatest and most self-reliant culture on earth, to just another country of whiners and wimps, who sit around looking to the government to solve their problems. Like all of western Europe. All countries on the decline. All countries that, because of liberal socialistic mentalities, have a little less to offer mankind every year. God help us... Cory Miller just a ordinary, extraordinary American, the way a lot of Americans used to be. P.S. Yes, Mr. Obama, I am a real American... http://www.cmillerdrilling.com |
I couldn't even read all of it because he's so verbose. I'm glad I don't have to listen to him go on and on. But I got the gist of it. I don't understand why he thinks the sky is falling just because his tax rate will increase a couple of percentage points. We've always had a progressive tax. I thought the Bush tax cuts would simply expire under Obama's plan, and Obama would push for a tax cut for people who make less than $250K. |
he sounds like quite the whiner himself. He says nothing about his average income, and makes it sound as though someone forced him to expand his businesses.
I am from Europe. He wouldn't have been able to accrue such dept in my native country. I know this, because my mother used to own 4 restaurants, worked extremely hard for many years and ended up having to shut down 3 of them because the banks no longer let her take more loans, although she was making profit. He is making himself out to sound like the average Joe while in reality having the outlook of corporate America. I have no sympathy for him at all. This whole"All Americans can be successful if they only work hard" is very offensive to those who have worked very hard their entire lives but never made more than what was needed to get by. And there are more of those people in America than there are "Cory the Well drillers" He doesn't tell it like it is at all. |
it's now less than 200k, which I found more realistic anyway. but shhh... don't take away his momentum! Stop telling him about the "REA" impact of Obama's plan! ![]() |
PP here: "REAL" that is |
I didn't get any help from the government, nor did I look for any. I borrowed what I could from my
sister, my uncle, and even the pawn shop and managed to scrape together a homemade drill rig and a few tools to do my first job. My businesses did not start as a result of privilege. They are the result of my personal drive, personal ambition, self discipline, self reliance, and a determination to treat my customers fairly. No. His sucess is the result of the money he borrowed from his sister and his uncle. Someone reached out and gave him a hand up. |
Maybe I misunderstood, but I thought is wasn't just hard work, but risk. Having some skin in the game. You can work hard as a trash collector (no offense to trash collectors) but you won't get ahead because that is a wage, and what Cory describes is investment (and his feeling that his investment will be penalized going forward). He was too wordy, I agree. But his point remains. If we penalize investment, we do so at our peril. Investment (risk taking, you can lose too) is what creates jobs, not simply working hard. |
Well, back in the Cliton years he would have been paying the same tax rate as Obama is proposing for him. If he felt it was that onerous back then, why didn't he quit, back then?
Instead it looks like the CLinton years just encouraged him to take MORE risk. So good for him! Let's bring back that Clinto tax rate, and encourage him even more! |
Also -- isn't Obama proposing a $3,000 tax break for each new American job a business creates? Surely this would help people like this man, wouldn't it? It would be a reward for creating new jobs. |
hmmm ... if he's had the tough times in his business as he describes - often teetering on the edge of bankruptcy - then he probably hasn't paid much in taxes over the 25 years he's been in business. Depending on how recent his tough times were, he's probably sitting on millions of dollars of carryover losses to apply to this and subsequent tax years to reduce his overall income. I don't get why everyone is feeling so sorry for these small business owners in terms of taxes -- as business owners, they are able to take advantage of all sorts of tax breaks and deductions that us wage earners are not entitled to. Moreover, under Obama's tax plan, if Cory the Driller continues to create jobs the way he has been, then won't he get some tax credits to further reduce his tax burden? |
He is a bit verbose, but I sympathize with his point. The unfortunate misconception is that the tax rates of those making over $250K (or more recently, those making over $150K as stated by Biden while campaigning this week) will only go up a "few percentage points" as someone earlier responded. When you combine income tax rates, payroll taxes, SS taxes - not to mention capital gains taxes - those in this catagory could very easily be paying 50% or more of their gross income to the government. And I don't know about you, but making $150K or even $200K as a married couple in the DC area does not constitute "rich".
And with respect to the progressive tax system, it is true that we have a history of this system in the US, but what Obama is proposing is a bit different. Nearly 50% of the people in the US do not pay income taxes, so he is proposing to literally send them a check. This is not progressive taxation, but really is as close to socialism as we have ever seen in this country. I am all for social programs (like Welfare and SS) to help the disadvantaged in this nation, and in no way do I (or is McCain) propose we eliminate them. However, history has proven that excessive taxation, even of the supposedly "rich" - does the opposite of creating wealth. In fact - in every year that the government has raised the capital gains tax in the past - the government has collected LESS revenue! |
Yes, he went on for too long. But I appreciated his point of view.
Still voting for Obama, though. |
Biden did not say taxes would increase for those making over $150K. Obama's plan has always been that nobody making under $250,000 will get a tax increase. The top tax bracket will return to its pre-Bush tax cut level, which is 3% more than today's. Those making less than $200,000 will get a tax cut.
Since there will be a donut hole, you will have to be making well over $250,000 before you see a social security tax increase. Obama proposes returning captial gains taxes to previous levels, but you can't simply add that tax on top of the others because both income and capital gains taxes don't apply to the same income.
Ironically, "refundable tax credits" are proposed by both candidates. Strangely, only one candidate is called a socialist for proposing them. The idea that a refundable tax credit amounts to taking money from one person and giving it to another is only true if you limit the scope of discussion to income taxes. In reality, the people receiving the credit will be paying other taxes, particularly the payroll tax. In the end, they will still be net "payers" of taxes. The idea that people will receive amounts of money beyond that which they pay in total taxes is not accurate. Socialism is a system having collective ownership and control of businesses. As such, refundable tax credits are nowhere as close to socialism as is the direct purchase of stock in financial institutions as currently practiced by the Bush Administration. |
I think Biden actually did say $150K, but he simply misspoke. The campaign made that clear. The $250K level has not changed. |
Here is the quote: "What we're saying is that $87 billion tax break doesn't need to go to people making an average of 1.4 million, it should go like it used to. It should go to middle class people -- people making under $150,000 a year." Biden is talking about "tax cuts", not "tax increases". He misspoke to the extent that cuts will go to families making $200,000 and less, not $150,000. Between $200,000 and $250,000 you will either get a cut or stay the same depending on various factors. Over $250,000, you get an increase -- but only on the portion of your income above $250,000 and even then only 3%. |