Investor’s Business Daily has a piece describing the new taxes the Dems have in store for people who can actually make money. I have said it before and I’ll say it here, Democrats hate profit, unless they make them.
The plan here is to tax the rich, but the rich have been defined as people who make $75,000 a year. Why do they always want to raise taxes:
Class envy is behind all this. It’s an envy that despises the investment clout of buyout firms, even though these buyouts create leaner, more productive, more efficient companies better able to compete in the era of globalization. These buyouts are a necessary capitalist churning, but many politicians prefer the status quo. In particular, labor unions are pushing their Democratic allies to stop the buyout movement to protect inefficient jobs and oversized benefits.
Ironically, all this is happening while low-tax Reaganomics is spreading worldwide. Hence, this would be the exact wrong moment for U.S. politicians to raise taxes and impair American competitiveness.
An increase in taxes is exactly the wrong thing to do. As usual, the Democrats effort to redistribute wealth and save the poor would do more harm than good.
Want to help the poor? Abolish the income tax system and implement the Fair Tax. Then let’s talk about dismantling the nanny state.
