Who Pays My Debts?

Obama doesn’t believe – or claims during his ongoing campaign that he doesn’t – that business create their businesses. Instead, the boy says that someone else did that.

That begs the question of who pays for a business’ failure. If someone else built that business, are they, or should they be, responsible for paying off its debts if and when it goes under?

If I fail, who pays my debts?
If I Fail, Who Pays My Debts?

The answer, of course, is that the business owner and only the business owner is responsible for paying his company’s debt in the event that his business fails. While, according to Obama, he is never responsible for its success, he is responsible for its failure.

In what passes for the Liberal mind, profits are to be socialized via confiscatory taxation but risks are to remain purely privatized. The collective mind demands accolades but spurns jeers, whether either come from individuals or the impersonal forces of the market.

Caveat: Size Matters

This all changes when the business is a very large corporation.In those rarefied, “too big to fail” instances, it will always be the tax payers that get saddled with the failed business’ debts. And, of course, the government will step in to determine just which creditors – their donors and supporters – actually get paid and which get told to shut up or face the consequences.

Related Reading:

Deduct It!: Lower Your Small Business Taxes
A Story of Debt
Debt Free: How to Manage Your Money and Get Out of Debt on Any Income (Finances, Money Management, Debt Free For Life, Debt Relief, Debt Management, Debt Cures, Debt Control)
Progressive Care Nursing Certification: Preparation, Review, and Practice Exams
Who Is Barack Obama? (Who Was...?)

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