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I hate to be too critical of my fellow Americans, but there are times when enough is enough. The insane proposals of hyper-leftist politicians have captured the imagination of much of the nation. Now, apparently millions of people are actually considering the notion that if we drastically increase taxes on the rich, it will make the lives of the rest of us much better.
This is the general sales pitch used for everything from Medicare-for-All to the Green New Deal to flat-out socialism itself. Unfortunately it’s working. A batch of recent polls show a majority of Americans support various types of tax increases against the wealthy, including 70% taxes for those making over $10 million per year.
Beggar thy neighbor. Has #America jumped the shark? https://t.co/hmFEuRvnX5
— OGblockchain (C)2020 (@OGblockchain) February 4, 2019
Based upon the Politico story, it seems like all variations of “charge the rich a ton to pay for stuff for us” are gaining majority support. There’s a reason I’ll bring up shortly that will hopefully remind conservatives and inform progressives about why this is a terrible idea, but first, let’s look at some of the common reasons these ideas are bad. All of these should be common sense, but let’s put them on paper for the mass of people who seem to be missing the points.
- Wage gaps between executives and employees are not artificially created. They are based on skillsets, experience, training, and demonstrable success. These attributes are much more difficult to embody than lower level jobs. In other words, it’s much harder to find a CEO who can lead a restaurant chain successfully than an employee who can properly bring the food to the table.
- Even if you make the case the pencil company CEO doesn’t work as hard as the pencil maker, it doesn’t change the fact that the pencil company CEO’s money is his or her money. It’s not the employee’s, at least not beyond what was agreed upon beforehand to pay the employee. It’s not the government’s, though Democrats seem to ignore this fact. The money is the property of the individual who owns it. Government-mandated theft is theft nonetheless.
- Before we get to the most important reason people shouldn’t support the obtuse tax structures proposed by the hyper-leftists, let’s look at some math. Estimates for the 70% tax for revenue over $10 million per year range from $189-$700 billion over a decade. This is a lot of money, but let’s compare it to the price tag of the things they’re proposing to pay for with this bump. Medicare-for-All has an estimated cost of $32 trillion over a 10-year period. That means 70% tax on the rich won’t cut it. In fact, it’s very possible that 7000% tax on the rich wouldn’t be enough, and that’s just to cover the costs of one of the many progressive policy proposals out there among Democrats today.
Now, to the most important reason these ideas are awful.
The bottom line to all of this comes down to a series of questions asked by conservatives over the decades that should be case-closed for anyone wanting to embrace the socialistic taxes being proposed by Democrats. The first question is, do you believe the government is trustworthy and capable of doing a good job of managing important components of our lives like healthcare?
Keep in mind, this is the same government that botched the Cash-for-Clunkers program and mismanaged it to oblivion. This is the same government that spent over $2 billion to build the Obamacare website which is still having problems today. It’s the same government that paid $1.04 billion to expand the lightly used San Diego trolley system by 10.9 miles.
Within the thick forest of bureaucracy and flowing down the rivers of wasteful projects is a level of corruption that has diverted literally trillions of dollars into pockets that didn’t deserve it. It’s the scam of scams known as budgeting that hides hundreds of criminal actions for every individual that gets caught. The reason they rarely get caught isn’t because they’re so clever. In most cases, what they’re doing is close enough to being legal that law enforcement doesn’t even bother with most battles.
This leads us to the second question. If you don’t trust that government is competent and incorruptible, why would you want them to build more programs that require more money from all, not just the rich. The dirty little secret proponents of these socialistic principles won’t tell you is that raising taxes on the rich won’t reduce your tax burden, nor will it reduce your costs on nearly anything. For example, our healthcare system, as imperfect as it was before Obamacare, was still vastly superior from a value perspective than it is today. Average Americans are paying more for healthcare than before Obamacare was implemented. This is why it’s so perplexing to believe the solution isn’t the free market system that built our economy. Instead, they believe giving government more control over our healthcare is going to work this time.
If the people generally don’t trust the government and believe the government is extremely wasteful, what makes people think giving them more money for more programs is a solution to anything?
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