And now Barney Frank jumps on the bandwagon of creating the next Great Society. He believes that the Government can solve our economic woes by spending even more than it already does. According to him, worries about deficit spending should take a back seat and that we can tax the rich later to pay for it.
Taxes are already way too high. Wages, benefits and jobs will be cut if taxes are raised on those who are providing those jobs. Cost of living increases follow as prices on products rise to compensate the higher taxes. In the end it is the lower and middle class who lose out.
It is time to stop pointing fingers at the rich. It’s time to stop trying to make the rich poorer to make the poor think they are richer. That certainly shouldn’t be the Government’s job! We should be trying to better ourselves and find our own successes. Class envy won’t get anyone anywhere. Barney Frank might not want to admit it, but taxing the rich will only hurt the entire country.
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Posted under Economy
Written by admin on October 21, 2008
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Spoken like a true rich man. Is it class envy when the government makes it easier for the rich to get richer and the poor to get poorer? The lower and middle class are already losing out…where have you been the last 8 years? We need something different.
Me rich? You’re dreaming. I’m considerably under Obama’s magic $250,000 number. I do know that a poor person has never hired me. I know that if those who are running businesses are taxed more that they have less to spend on their employees and have to raise prices and lower wages/staff to compensate. How does raising the price of consumer goods and lowering job opportunities (a direct result of the class warfare policies of our current Government) help the lower or middle class? Keeping what you earn and paying for what you use is fair for everyone. There should be no litmus test on who is worthy of keeping their wealth and who should have it taken from them. Everyone should be worthy of that.
I agree, we do need something different. We need to get away from all this rediculous spending (and yes, I include the last 8 years of spend spend spend philosophy in this) and get back to a conservative government. The government’s job is not to steal from the rich and give to the poor. Current wealth status does not preclude anyone from becoming rich (80% of America’s millionaires are self-made – I highly recommend reading The Millionaire Next Door). I believe in my own ability will grow my wealth, based on my talents and abilities and not Government handouts. Why should Bill Gates be forced at threat of jail to give a portion of his income to me simply because he is richer? I have done nothing to earn it. I can, and should if it is my desire, earn that money on my own. The poor should be empowered to move up (through education and job training), not given handouts endlessly (as in Earned Income Credits).
I have no problem with safety nets and helping others get back on their feet when they are down, but there is no reason we should endlessly give handouts to those who cost the most to our society. Some politicians talk about “fairness” yet they continue to support policies which result in which 50% of our citizens pay only 3.1% of the taxes, all while using a much larger share of the government spending than they pay in (as bad as $14.76 spent for every $1.00 earned for 20% of our citizens). Heck, this graph sums it up pretty well:
Anyhow, I will point back to the link I put in the original post. It does an excellent job of summing it up and countering the incorrect assumption that raising taxes on the rich is good for the middle and lower class. Moving towards policies that will make the poor continue to be poor and make the rich poor as well is not the change America needs. America needs to empower the poor, not penalize the entire country by the false pretense of taxing the rich.