A recent ad run by President Obama says that he is “betting on America.” Although I find little in the President’s messages with which I concur, I have to agree with this statement. This is the underpinning of his entire approach to governing.
To bet is to wager, to gamble. Living in Las Vegas, I’m mildly familiar with the concept as you can even engage in this activity in the supermarkets if you choose. Video poker machines are to be found everywhere. And if you do decide to play, you should have an understanding of the enterprise on which you have embarked.
The casinos have upgraded and attempted to make this pass time sound more legitimate by renaming it from the original, “gambling” to what is now referred to as “gaming.” Whatever you call it, it’s the same thing. And what is that? It’s a system for re-distributing wealth.
Although I’ve used this example before to explain the principle, I hope that my long-term readers will indulge my repetition for those who are newcomers.
Texas Hold ‘em has gained a lot of popularity as a spectator sport as the World Series of Poker has the richest prize in the history of the game and is broadcast to millions of viewers. So we’ll use that as an example – although the principle applies equally to all games of chance whether those are card games, dice games, slot machines or lotteries.
Ten players meet for a game of No Limit Texas Hold ‘em at one of the player’s houses. Each player brings $1000 to the game as his buy in. No additional chips may be purchased during the course of play and the game is to be played for three hours and then will end.
At the end of play, some players may have been eliminated and lost their entire investment. Other players will have more than their original thousand dollars and others less. But if you add up all the chips on the table you will still come up with the amount with which these ten people started – ten thousand dollars. Not a dollar has been made or lost – it has merely been re-distributed.
Isn’t that the heart and soul of President Obama’s vision for America? To re-distribute it from certain of us and give that to others of us? But where did this wealth that is up for re-distribution come from?
President Obama, the Congress and the bureaucracies in Washington “didn’t build it.” Small and large businesses were the ones who created the wealth in the first place. And if it weren’t for their success, the sycophants who rely on us to support them would actually have to go out and find gainful employment.
As a former small business owner I doubt I would hire them, because I always tried to choose employees with drive, motivation, vision and a strong work ethic. While there are some in government who possess those attributes, their numbers are few and far between.
So, yes I agree with President Obama that he is “betting on America.” And if you believe that, you’ll probably enjoy coming out to Las Vegas and participating in the game.
It’s a real crap shoot.