Robin Hood is Ba(ra)ck!
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Sundararaman Viswanathan | Mar 02, 2009
Is Barack Obama the Robin Hood of our times? Look at this man, stuck in a world of capitalists, but doing his best to get the wealth distributed.
Sustainability is his mantra! Not because he is pitching for clean energy via wind turbines, solar panels only but also, for asking the corporate to be responsible towards the society and environment as well. Making them spend the dollars they have raked in over the last 100 years!
His speech at the Jt. Session of Congress evoked a flurry of responses in all the news channels and business newspapers. All the capitalists of new India cloaked in the disguise of “entrepreneurs” crying foul! US capitalists dwarfed us Indians by getting their own Bobby in Washington DC to lead the clarion call within minutes of the president’s speech!
Capitalists fear him and I too am fearful. There is a difference though. I am afraid that the one sensible guy whom we have found after almost a century to champion the cause of common man might be “silenced”! I wish and pray for the well being of Obama and his family.
This article is an unconventional didactic exegesis! So, it’s going to be a long one. And also, let me warn you, if you are not an Obama fan, you might just want to drop off here or dig in and comment your rebuttal!
“The fact is, our economy did not fall into decline overnight. Nor did all of our problems begin when the housing market collapsed or the stock market sank…we import more oil today than ever before…The cost of health care eats up more and more of our savings each year…and though all of these challenges went unsolved, we still managed to spend more money and pile up more debt… .We have lived through an era where too often short-term gains were prized over long-term prosperity, where we failed to look beyond the next payment, the next quarter, or the next election.”
How true? Didn’t we all know that Americans lived their life by the day? Is he wrong in coming out in public and admitting it? He just ripped off the band-aid buddy, nothing more!
“A surplus became an excuse to transfer wealth to the wealthy instead of an opportunity to invest in our future… .Regulations were gutted for the sake of a quick profit at the expense of a healthy market. People bought homes they knew they couldn’t afford from banks and lenders who pushed those bad loans anyway.”
Have you heard this from any of the banks who lent irresponsibly or the people who took them? No! Instead we were immersed in a usual US media blitz on “subprime mortgage crisis”. After all what can we expect from a country that calls its jails “correction facilities” and killing innocent civilians as “collateral damage”. The common American was all along kept away from harsh realities by flooding him with such jargons which anyway the high school dropout wouldn’t understand. Their life was watched the world over as the biggest “True man show” ever! The Americans also were so gullible and at times I should say were high on grass!
“…they will be held accountable by me and the American people for every dollar they spend… I’ve appointed a proven and aggressive inspector general to ferret out any and all cases of waste and fraud…” Which means nobody and nothing was ever held responsible in US. Some one said, “Nothing is guaranteed in the US but everybody gets a chance, but, not all get a chance in the UK, but once they do, it is guaranteed!” So typical of the American lifestyle, which by the way they take pride in calling it “our way of life” – what the heck! Here is a man who has never used this phrase! A man who criticizes with an open heart, the same “way of life” which has brought them to where they are today!
Read on, do you now wonder if Robin Hood is back?
“…It’s a plan that won’t help speculators or that neighbour down the street who bought a house he could never hope to afford, this time, CEOs won’t be able to use taxpayer money to pad their paychecks, or buy fancy drapes, or disappear on a private jet. Those days are over…”
“…It is time to put in place tough, new common-sense rules of the road so that our financial market rewards drive and innovation and punishes shortcuts and abuse…”
“…In order to save our children from a future of debt, we will also end the tax breaks for the wealthiest 2 percent of Americans…”
And here comes the clincher!
“…I do not accept a future where the jobs and industries of tomorrow take root beyond our borders…”
I say, Robin Hood is Barack!
There are two things which I want to talk about, especially on the clincher. Obama is not against outsourcing. He suggests that any new technology / innovation done BY an American company, needs to happen in the US. This is fairly simple. He is willing to provide tax benefits for such firms and encourage them to utilize the resources of his country. In fact he is pitching to the big businesses to do work in the US and get rewarded as well for that.
Secondly, did you know that US business conglomerates are so big that their value is more than that of GDP of some of the nations put together and in certain cases equal to the GDP of some of the biggest developing nations? These businesses have moved from the US to cheaper cost of production locations and are charging a bomb from the other US businesses located in US. On top of that every year, these big companies, gross 300$ billion from their “offshore” locations and take that money back into the US by paying a paltry 5% tax to the US Government. In such scenarios, all he is suggesting is that he will not provide a tax haven anymore and just pay the 35% corporate you are supposed to pay!
OK, in case you are the ‘Joe the plumber’, let me simplify it for you.
1. US companies (IBM, Accenture, Mc D, Pepsi, PWC, Mc Kinsey etc.) had reached a saturation point in the US market.
2. The US Gov told the businesses, “You go out and start off your business in offshore locations, get more revenues and when you bring the money back into US, instead of paying 35% corporate tax, pay me just 5% tax. I will allow you to do this for a long, long time and you bring back wealth into America.”
3. These companies utilized the opportunities and ventured out.
4. When they realized the potential of countries like India (services) and China (manufacturing), they started shipping jobs to India and got a cost arbitrage and also utilized the tax haven in their country.
5. Double whammy as they call it in US, Joe!
Now, for Indian “Ramu the IT guy”…I am sure you would have been immersed in offshore/onsite model, travels, free trade, global market, share market stories by now. Also, I am pretty confident that you would have wanted to multiply your money and invested heavily in share markets! Suppose you had the shares of HLL (Hindustan Lever Ltd.) which is a subsidiary of Unilever (UK). You would be glad that you invested in a multi-national company and since you are receiving dividends you would have become an advocate of free trade. If you carefully examine what the Unilevers of the world are doing, you will realize that they are swindling money from your country (read India) mate!
Again, let me simplify it for you. It is day time robbery my friend! When HLL announces dividends, being the largest shareholder, Unilever (UK) gets money. It goes back to UK or if it were a US company it goes back to US. Poor Governments of the UK/US, in a move to encourage their so called entrepreneurs in a free trade practice, had announced that they can bring back the capital at 5% interest rate. Finally, the money lands in the company coffers and the CEOs and top brass burp it away over champagne in a private jet somewhere in the south of Europe in a Mediterranean island with their girl friends! The point to note is that they are not investing enough money back into the country where they are consuming their resources from and also not paying appropriate taxes to their motherland as well! Double Whammy buddy!!
This guy Barack Obama, the US President, a sensible guy, finally, is not sticking up to his capitalist friends. He is talking about common sense and common people.
Look at the people whom he got inspiration from. Leonard Abess, a bank president from Miami who reportedly cashed out of his company, took a $60 million bonus, and gave it out to all 399 people who worked for him, plus another 72 who used to work for him, Greensburg, Kansas, a town that was completely destroyed by a tornado and its story of reconstruction, Ty’Sheoma Bethea, the young girl from that school he visited in Dillon, South Carolina who wrote a letter to his administration that she wants her school restored back!
He is trying hard to bring in the “change” he promised. Unlike our Indian government he is not throwing “spare change” to the common man like farm loan waiver, fuel price cuts, some petty tax cuts, in the garb of stimulus plans. Our CEOs and financial analysts need to wake up to the fact that he is the President of United States of America and not this planet!
I have confidence after listening to his speech that he will bring back the American economy on track! In this very same speech, he says he will restore faith in G 20 nations regarding American economy. “…for the world depends on us having a strong economy, just as our economy depends on the strength of the world’s!”
Let’s say “We want change!” Hail Barack – Robin Hood of our times and the true sustainability champion!
Filed Under: Miscellaneous
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Bravo Sundar. Right on. Simple terms.
The trouble I have with Obama administration is, why is he not flooding the TV/News and other such media, to explain this simple concept, get popular support. Look at the mortgage mess, and his solution. The Opponents are just creating a controversy, that why me a guy who did everything right, have to bail out someone who was greedy (Rick Santelli’s rant). Its like missing the forest for trees. Everyone has to realise that we are all in this together. Either we dig ourselves deeper or out of it, its going to happen, only if we do it together.
My other wish: When do we (India) get a political leader so rooted to the ground, not worrying about vote bank, and do the right thing for the country. We have seen the country go from riches to rags under the supervision of so called great economists!!! Manmohan and Chidambaram. We absolutely flushed 5 golden years of opportunity of becoming a great nation of 21st century, under these guys’ guidance. What a shame.
Loved this article! Hope he succeeds in channeling money in the right hands – to those who deserve it!
Thank you very much for this!
Just like you, I hope for his (and his family) safety.
What he is daring to say is tough to hear and the whole capitalist system is shaking in fear… And unfortunately there are a lot of bad people out there.
But Kudos for him and for your article!
Pass the Kool-aid.
If I may make a suggestion…you may want to pick up a book by Friedrich Hayek or Ludwig von Mises. You may discover some things that surprise you. I always try to open my mind to new things, and I hope others do the same. Cheers.
Small point of order: Robin Hood was, ahem; a Robbing Hood.
Point of clarification to Nikita — Robin Hood was wildly popular with the common people. Would you rather side with the Sheriff of Nottingham?
We have seen the “free market system” run amok with no regulatory checks and balances and it is not pretty. Go Robin Obama!
well said article.
the capitalist people are just a gang of robbers. let’s see how the Robin hood will chase them. but he really need our support no matter what. CEOs watch out.
The world’s landscape is one large Sherwood forest and the sheriff (the Republicans) are making it tough to level the playing field. Robin Hood (Prez. Obama) understands that the peasants (ordinary hard working Americans) will revolt if their basic needs aren’t met, so he’s got to do what he’s got to do…
@ Gopinath v – Thanks for your comments, I too wish India gets an Obama, and regarding flooding the news channels, Fox, CNN and other channels are also run by big corporates and they too wouldnt be much happy about the situation I guess…
@ Gopinath Mavnkurve – Yes, I too hope for the same!
@ Ariana – Thanks a lot Ariana, I came across your Blog, searchingthings.blogspot.com and found it pretty interesting. You have accomplished a lot and need to feel great about it! Happy travelling
@ Cindy – Thanks, for the comments
@ Fritz – I certainly will pick up the books by authors you mentioned
@ Nikita – Robbing hood?
well, as Johnny said he was popular. The Robins(Greedy (not all) capitalists) who are looting us in their hoods, well….
@ Johnny – thanks for the clarification Johnny
@ Seyi – This chase is going to get exciting than the high speed car chases aired on TV
@ Greg – I cant agree with you more – Bravo! Well said
Thanks all for taking time and posting your views!
- Ciao
Hi Sundararaman,
Great article. I truly hope that it becomes true and feasible the aspirations of the XXI century Robin Hood.
Cheers,
Mario
I really liked your article . Good study and analysis of Barack Obama.
In my youth I admired Robin Hood. After having grown up, however, I realized that Robin Hood was no hero, but rather an under-educated idealist empowered by other under-educated idealists to rein havoc on a world he barely understood. The redistribution of wealth should not be encouraged by the rich or poor, and it is as a poor but well-educated individual that I say this. Even if we ignore the fact that taking money from the rich to give to the poor is actually theft, we are still left with the reality that it hurts the poor much more than the rich. To understand why, we must delve into the meaning of money itself because to see money as numbers or pieces of paper is erroneous. Money should be viewed as being power, and so the redistribution of wealth is actually the redistribution of power. Unfortunately, the average poor person should not be trusted with much power. They will not use their power to make the world a better place. They will not increase national production. They will not employ people. In fact, given the chance, they will not even work. Instead, they will quit their jobs and spend their money on things like houses, cars, clothes, drugs, and alcohol and anything else that brings them immediate (though temporary) pleasure. Of course, this assumes that they can still buy anything in a world in which production has virtually ceased. Given much power, many poor people would destroy their own lives, and they would take the country down with them. Of course, we would also be taking power away from the rich, who are currently so responsible with their power that these people continue to do positive things like employ the poor and produce goods and services for everyone to enjoy. So neither Obama nor Robin Hood are helping anyone by attempting to redistribute wealth. Luckily, if anyone ever succeeds in a perfect redistribution of wealth, it will soon return to the way things were as the once-poor waste their money and the once-rich invest theirs. In the mean time, things will be so bad that the world will never attempt such a foolish mistake again.
Dear Mr. David Ash,
I strongly desagree with your “vision of world”!
The poors are poor only because of the greed of the rich!
If we had a better distribution of “power” (as you made the relation money=power), we would have better education, healthy people and more intelligent, also. So, the use of resources would be also intelligent.
We would have less wars, less “saint cruzades”, and everyboby will preocupied with their own vacations and not to harm the other.
Cheers,
Mario
Mario-
I find our viewpoints perplexing. I’m a 28-year-old American with a degree from my local community college. You’re a 51-year-old Brazilian with an MBA from Harvard (correct me if I’m wrong here). I fear that somehow our generations have gotten their roles reversed. Truly hilarious.
I really don’t understand how such a well-educated individual such as yourself could be led to believe that giving more power to the poor would be so beneficial. Perhaps you believe that the poor are somehow all like you, and don’t recognize the fact that you’re actually a member of the elites (yes, even if you don’t have their money yet you’re still one of them, perhaps moreso than Barack Obama because you’ve taken Economics and he hasn’t).
I have met the poor. I’ve hung out with them. I even like them. But I won’t agree to giving them as much credit as you have, and I certainly wouldn’t agree to giving them very much power. The poor are drunks, druggies, and poor decision makers. They’re short-term thinkers, floating through life without even the desire to direct their own lives. They steal from their friends and families, and take advantage of whatever situations life puts them in. They gamble with what little life gives them, and if they win they blow the winnings on things that hurt them in the end. You should see what happens to the poor bastards that win the lottery: http://articles.moneycentral.msn.com/SavingandDebt/SaveMoney/8lotteryWinnersWhoLostTheirMillions.aspx
The poor certainly don’t make better decisions, nor do they possess a moral upper-hand over the wealthy as a whole. The majority of the wealthy have proven their moral quality in attaining the status that they have attained. Becoming rich is very difficult, and an incredible test of virtue.
More so, the claim that the poor are poor because of the greed of the rich is just wrong. If you really want me to buy that you’re going to have to support it with a very solid argument. I would contest that the real reasons that the poor are poor can be found in the following list:
1. Unfavorable hereditary background (AKA a deficiency in brain power)
2. Lack of a well-defined purpose in life
3. Lack of ambition to aim above mediocrity
4. Insufficient education
5. Lack of self-discipline
6. Ill health
7. Unfavorable environmental influences (AKA being raised to have criminal intent)
8. Procrastination
9. Lack of persistence
10. Negative personality
11. Lack of controlled sexual urge
12. Uncontrolled desire for “something for nothing” (AKA gambling)
13. Lack of a well defined power of decision (AKA indecisive)
14. Fear of poverty, criticism, ill health, loss of love, old age, and/or death
15. Wrong selection of a mate in marriage
16. Over-caution
17. Wrong selection of associates in business
18. Superstition and prejudice
19. Wrong selection of a vocation
20. Lack of concentration of effort
21. Habit of indiscriminate spending
22. Lack of enthusiasm
23. Intolerance
24. Intemperance
25. Inability to cooperate with others
26. Possession of power that was not acquired through self-effort (AKA Inheritance)
27. Intentional dishonesty
28. Egotism and vanity
29. Guessing instead of thinking
30. Lack of capital
31. Susceptibility to negative influences
Please note that while a few of the reasons cited above are dependent on external forces (unfavorable hereditary background, insufficient education, unfavorable environmental influences, possession of power that was not acquired through self-effort, and lack of capital), the vast majority of these limiting factors are internal. More so, the most severe limitation is simply having a lack of brain power. All of the others may be overcome through serious effort in the modern age. Also it should be noted that the only one that may be blamed on the rich is lack of capital, but I assure you that anyone that truly has the ability to make money with money will be given capital by the rich. That’s how the rich get richer — they invest it.
Also note that this list isn’t mine. I found it through Googling in less than a minute.
Hi David,
Great answer! You strongly rooted your argumentation.
Well, from the start, I am Portuguese, living in Brazil, and my MBA and post-grad extensions actually are from local Universities, the best ones, but local.
Also, actually, I am part of the elite of this country, more or less, at the 3% of the top of the pyramid.
But that doesn’t mean that I accept it as a correct “status” (vision of the pyramid), or that because I had the fortune to have the best education and parents that afforded it, that I will not think that others should have the chance to have the same opportunity.
I also had a lot of contact with the less favoured, I gave lectures to bottom pyramid workers, I trained low level employees, of my company, developing their skills, so that they will be able to have better opportunities, coupled years ago I donated more than 200 books of my personal library to a NGO that helps poor young people on their inclusion in the labour market, and so on.
Many of the items that you listed are absolutely correct, but they are the effect not the cause. What I believe, and I have a medium-term vision is how to mitigate the causes.
Obviously, if we give tomorrow the power to the less fortunate people, we will have the chaos. They don’t have, nowadays, the skills to manage almost anything. Why?
That is because they hadn’t the chance to learn, to practice and to improve.
Could it be done in one generation? I don’t know. But if we don’t start to fix it, we, the elite, will be in big troubles very quickly.
What I am saying is that we need to have a more equal world, also, these are not my words, United Nations and the G8 also said it, until today rhetorically, but they already figure out that if something will not be done very quickly we will have serious social problems, worldwide.
If you want another approach, with a capitalist vision, you can see it as a potential market growth. If we include more people the market will grow. We are seeing the “old markets”, as Europe and USA, reaching the saturation point of consumption, because productivity is increasing and the demand is not growing at the same level, so we need more people to consume. Birth rate is diminishing in developed countries, so you need to include more people in the market that is the primary reason that G8 are thinking, not poverty.
So, no one is a Mother Teresa of Calcutta!
Very nice to discuss with you.
Many thanks.
Cheers,
Mario
Mario-
Alright, I think I completely agree with you when you put it like that. It’s funny how sometimes disagreements are actually just miscommunication in disguise. I also find it inspiring how patience, tolerance, and cooperation can create positive results from conflict — I have a theory that zero-sum games are almost always artificial, and that the natural world possesses very few situations where both sides can’t come out ahead.
Of course, my initial statement had nothing to do with Obama. I have nothing against Obama and do hope that he makes some kind of dent in the American system. I just don’t think it’s a good thing to hold the masses in higher esteem than the elites, nor do I believe in promoting the false-heroics of “Robin Hoodism”. I do believe that the widening gap between the wealthy and the poor is a very bad thing and that the redistribution of wealth would be awesome. However, the solution to this problem cannot be quick and arbitrary. The poor must change the way they are and earn it.
So, how do we help them do that?