It’s ironic that in our time of need, Americans turn not to the freedom and hard work that made this country great, but to socialism and its promises of wealth plundered from their neighbor and redistributed as elitist politicians see fit to reward their cronies.
Socialism has only proved to be good at spreading misery and poverty to everyone in countries that have gone in that direction – must we really repeat their mistakes here? Even now, bastions of socialism such as France are turning back towards economic freedom to heal their economy, yet I see Americans praising the great Obama and his proposed 50.3% effective tax rate on S corporations and his “tax refund checks” for people who never paid taxes in the first place. Government does not create wealth – hard working and entrepreneurial Americans do. Government only stifles productivity and redistributes loot.
According to the U.S. Small Business Administration, small businesses account for 50% of the jobs in the United States, yet people seem to think plundering their revenue is a viable and sustainable way to fix our problems. We’ve done an excellent job at driving large corporations out of the United States with our obscenely high corporate tax rates – money has fled our country at an alarming rate as companies move to avoid punitive taxes.
As we rally around politicians who promise they’ll “soak the rich”, does anyone stop to think what happens when we drive out the “rich”? According to the IRS, the top 10% of income earners already pay 70.79% of the taxes. What happens when we drive them, their businesses, and their jobs out too? Who will we fleece then?