When you’re struggling financially, it can be easy to agree with the policy to “tax the rich!” And this is Joe Biden’s main plan to improve the economy during his next term if elected . Higher taxes and more kinds of taxes. But talking about taxing the rich is not really a plan. It’s a way to get votes.
Have you ever really thought about the justification for imposing taxes? Today I realized I had not really thought much beyond the usual negative sentiments regarding taxation. I was comparing Biden’s and Trump’s economic policies and I realized why Democrats love raising taxes. It’s because they think they are better at spending your money than you are. They know which cheese is best for you!
Biden’s economic plan for America depends on raising taxes and “catching tax evaders”. Trump’s plan is very different. He wants to make it easier for people to pay their own bills by making sure our economy is growing organically rather than fake growth created by government spending and income redistribution. Biden likes to claim he has a great record on the economy. But actual statistics tell a different story. Much of the growth is a direct or indirect result of extensive government deficit spending!
The Democrats refer to a tax and spend economic plan as “economic justice” and they want poor voters to think that “they” will be getting some of that glorious wealth. But in reality the government itself is the main recipient of the income redistribution program. You won’t be getting a raise in your paycheck. They will! And they’ll spend what’s left on what they think you should have. Maybe you need money to fix your car ? No! We will give you free bus fare. Enjoy your cheese!
Taxing the rich more just because they have more is wrong. Number one: it’s not right to take other people’s property. And number two, it’s not a sustainable economic system . Eventually the rich will run out of money. And raising taxes leads to inflation. Don’t we have enough of that?
To restate it, taxes take money from individual citizens and give it to the government who then uses it however THEY think is best . You don’t get to decide what they do with that money. Often the money is wasted and sometimes it’s spent on immoral or stupid things.
The rarely mentioned issue is that it’s not democratic when politicians and bureaucrats simply decide how much of our money they want to spend and take it from us. They decide if they need more money for their plans. They don’t ask our opinion. They don’t wait for the free market or society as a whole to take the initiative to solve problems. They use their power to tax to fund their agendas and pay themselves and their buddies.
But what about inequality and poverty? Has income redistribution reduced inequality? No, class divides are actually growing. This is a natural consequence of government subsidies of certain industries over others, plus the reckless growth of the financial markets. Gambling is not a sustainable economy. We need a real plan.
An important fact that most people don’t remember, is that Bill Clinton’s economy was very good. Clinton was a Democrat, but his economic policies were not socialist like many of today’s Democrats. Some of it was luck on his part. He was following in the wake of Ronald Reagan’s policies that had brought the U.S. out of a severe and long-lasting recession cycle. But he also implemented changes that led to “the longest economic expansion in history; the lowest unemployment rate in 30 years; the most new jobs ever created under a single administration; the highest homeownership rate in history; the lowest poverty rate in twenty years and the largest five-year drop in child poverty since the 1960s.” How is that possible? Our economy has changed a lot since then, due to globalization and the internet.
New ideas are needed. Today’s socialist democrats want to lead America further into an economy based on government control by using massive income redistribution through taxes. This is their explicit goal, a managed economy versus a free market economy .
The end result of continuing on the path we’re currently on is that half the population or more will not be able to own a home or a car or have savings or start a business. This is the main difference between the two parties. The left wants to PROVIDE FOR YOU under their rules, while the right wants YOU TO BE ABLE TO PROVIDE FOR YOURSELF under freedom.
I know it looks like both sides are the same and you might be considering not voting at all. But that is the worst thing you can do! Make your voice heard now before we lose all of our rights to own property and use it how we choose, to determine out path, to be in control of our own lives. Economic freedom is the lifeblood of a true democratic republic.
The President [Bill Clinton] and Vice President’s strategy of fiscal discipline combined with opening foreign markets and investing in the American people has led to unprecedented economic progress.
From https://clintonwhitehouse5.archives.gov/WH/Accomplishments/index.html
Both candidates promise to fix these problems. But their methods are very different. You can choose higher taxes and more inflation, or a return to economic growth to fund the various programs that we all want to continue. The choice is clear. This election really “is about the economy, so don’t be stupid“.
To help you consider your long term future in the era of goals such as the WEF’s “You Will Own Nothing, and Be Happy”, I give you these wise words from the Economic Bill of Rights.
The Founding Fathers of our country knew that without economic freedom there can be no political freedom. Their rallying cry of “No taxation without representation” reflects that fundamental precept. They knew that the right to earn your own keep and keep what you earn is central to America’s understanding of what it means to be free. This country was built by people seeking to support themselves and their families by their own labor, people who treasured the right to work and dispose of their earnings as they saw fit, people who were willing to take economic risks.
Over the past 40 years, however, the growth of government has left our citizens with less control over their economic lives. What America needs now is an Economic Bill of Rights that guarantees four fundamental freedoms:
The freedom to work.
The freedom to enjoy the fruits of one’s labor.
The freedom to own and control one’s property.
The freedom to participate in a free market.
https://www.reaganlibrary.gov/archives/speech/americas-economic-bill-rights
Blue Skies and Green Pastures 
Ironically, as people are suffering economically under Biden’s policies, his party is trying to turn that suffering into votes. The worse off people are economically, the more likely they are to vote for someone who promises relief (from problems HE caused!). (Wake up, people.)
Hubby and I were talking about how a lack of history education leads to people being duped into believing that big government actually knows what they’re doing. Are they still teaching that communism is unworkable?!
No, many schools aren’t. In fact, socialism is often presented as a positive thing. 🤦
Great post! You’ve done taxes too, so you understand that in the US we only pay taxes on earned income. When people grasp that truth, “tax the rich” becomes a huge fallacy. The “rich” don’t have to earn money unless they chose to. Whereas working class people live paycheck to paycheck trying to earn enough money to pay the bills and keep the lights on, well off folks don’t have to do that. And of course the more money you have the easier it is to invest in things that provide a tax shelter.
Without fail, every time we decide to “tax the rich ” what we are really doing is taxing the poor. In my state you can see ample evidence of this truth playing our for decades now. We have the 3rd largest cost of living in the country, some of the highest gas prices, and a whole lot of poverty. In very liberal “tax the rich” Washington, we also have some of the country’s biggest billionaires hanging out in Seattle. LOL, they very often support campaigns to “tax the rich” because they flat out know it will not impact them at all.
Well said . Thank you for sharing the liberal state perspective and its consequences!