Did Fred Smith start and build Federal Express or did the government?

Obama 7.13.2012: If you’ve got a business — you didn’t build that. Somebody else made that happen.

Published on Jul 15, 2012 by

Obama at campaign event in Roanoke VA 7.13.2012: “If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business — you didn’t build that. Somebody else made that happen.”

__________________-

President Obama said on July 13, 2012:

Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business—you didn’t build that. Somebody else made that happen.

I got a simple question. Did Fred Smith come up with the idea for Federal Express and then spend every cent of his own money and gamble to see if his idea was workable or did the government take those risks?

Did you know that Fed Ex started in Little Rock? Entrepreneurs like Fred Smith need to be encouraged, not discouraged by government. This comment by President Obama actually insults them.

 Here is a funny Fed Ex Commercial from the 1980’s.

A few more funny commercials from Fed Ex:

I love the movie Castaway:

 
On July 3, 1981, I was in Prague, Czechoslovakia in the middle of a 20 country student tour. Our group of 48 American students had the opportunity to speak to a Communist government official for over an hour. We asked him several questions. My questions were quite direct and I will share some of them at a later time.
 
However, I did want to share one question that I asked. I told the official about an entrepreneur from Memphis named Fred Smith. Back in the early 1970’s we heard about how Smith had this crazy idea about delivering overnight packages from LA to San Francisco via Memphis. Sounded like it would not work, but Smith was able to invest all his money and eventually it paid off. His idea was successful.
 
I asked the simple question: Could something like this happen here in Communist Czechoslovakia? He responded, “No. That is because no private citizen is allowed to own that much capital. The government must do things like that.”
 
There was no chance for entrepreneurs to exist in communist countries. I was simply pointing out that economic freedom allows an environment for entrepreneurs. Why would someone put the time and energy in putting together a grand plan like Fed Ex when the benefit and reward would just go to a communist government? Entrepreneurship should be encouraged, but many times today in the USA we find that our lawmakers pass laws that discourage entrepreneurs. Now our President has insulted these same entrepreneurs!!!!
 

Amy Payne

July 16, 2012 at 9:02 am

That sound you hear is silence—as millions of small business owners and entrepreneurs were left speechless this weekend from President Obama’s latest insult.

The slap in the face to hard-working Americans conveyed Obama’s belief that it takes a village—a heavily subsidized village—to create that venture you’re profiting from:

Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business—you didn’t build that. Somebody else made that happen.

Obama pushed his policy goals of infrastructure (aka stimulus) spending and “government research” as part of a collectivist utopia “doing things together.” It’s simply stunning that he would tell Americans, “If you’ve got a business—you didn’t build that.”

After all, could individuals be resourceful and hard-working enough to create whole new enterprises? Obama said:

Look, if you’ve been successful, you didn’t get there on your own. You didn’t get there on your own. I’m always struck by people who think, well, it must be because I was just so smart.

It is this view of successful businesses—essentially, “You owe us”—that drives Obama’s continued attacks on the country’s job creators in the form of tax hikes and regulations.

It’s a tough time to be a business owner and entrepreneur in America. Surveys show small business owners are struggling, and they are not expanding or hiring because of tax and regulatory uncertainty. Federal agencies, from Health and Human Services to the Environmental Protection Agency, are regulating them to death. And just last week, President Obama announced his latest economic plan was to hit job creators with a tax increase.

The President’s plan to raise taxes on earnings above $200,000 ($250,000 for joint filers) would hit 1.2 million small-business employers who pay their taxes through the individual income tax, known as flow-through businesses. These businesses that are creating jobs earn almost all—91 percent—of the income earned by flow-through employer-businesses.

The new tax increase could be equivalent to one employee per small business. According to calculations by The Heritage Foundation’s Center for Data Analysis, the average American with $250,000 or more in income can expect an average $24,888 tax increase next year under Obama’s proposed policies. That $24,888 figure is often enough for a salary. So the President could be putting about 1.2 million jobs—perhaps even more—at risk with this tax hike.

Hitting private job creators while advocating more stimulus spending and government jobs. That’s the President’s plan for the economy.

Meanwhile, businesses large and small suffer from the highest corporate tax rate in the developed world. This has long made the U.S. an uncompetitive place for new investment and has driven new jobs to other, more competitive nations, meaning fewer jobs and lower wages for all Americans.

If the U.S. is to see economic recovery, we must encourage entrepreneurship. Stopping the biggest tax increase in American history, Taxmageddon, would be a good place to start. It’s a $494 billion tax hike set to hit on January 1, when a number of tax policies expire and just a few of Obamacare’s new taxes kick in. Businesses are already hesitating on hiring decisions because of the impending effects of these taxes.

Democratic leaders are demanding tax hikes, however, and threatening to allow Taxmageddon for the sake of politics—despite warnings that it would send the U.S. back into recession.

Real recovery will take even more than saving job creators from punishing taxes and regulations. It requires leadership that appreciates and values the long hours that America’s business builders put in and the personal sacrifices they make for their dreams. It will take leaders who say, “If you’ve got a business—you built that. And we want more of that in America.”

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