John Kerry Invest My Money
I read today a letter by Senator John Kerry to the administrator of the US Small Business Administration (the government’s VC) in which he urge him to invest in companies not based on their performance or future growth but base on gender or race:
The need for SBA’s small business venture capital programs is clear. According to a study conducted by the Ewing Marion Kauffman Foundation, less than 1 percent of the $250 billion in venture capital dollars nationwide is made available to meet the needs of the country’s 4.4 million minority business owners. Women-owned businesses are also severely under-represented in access to venture capital dollars. Although women own approximately 40 percent of all businesses in the U.S., they receive less than 5 percent of all venture capital investment.
So when we examining John Kerrys philosophy is boiled down to the following: we dont really believe in private property (unless is ours!) and more than that we dont believe that you have the right, or the capability to make rational decisions about you income. Therefore the government will tax you and redistribute the money according to John Kerrys view.
So instead of doing with my money whatever I want, including investing it for my own retirement, Im paying it as tax that then being invested in companies not accordingto their abilities to succeed but just because it happened that the owner is a women.
Upsetting, isnt it?
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