To The Daily Sun,
President Joe Biden describes his $3.5 trillion spending scheme as a way to improve the economy and "build back better." It is going to work every bit as well as his evacuation from Afghanistan.
Most upper income people are small-business owners and investors. Since when in America do we have an explicit policy of punishing success? That makes sense to Biden… but his Afghanistan withdrawal plan made sense to him… Do you see where I’m going with this?
Another troubling trend in tax policy is that since the coronavirus hit, the share of people who pay no taxes at all has gone up a lot. Brookings Institute shows six of 10 households paid no federal income taxes during pandemic-stricken 2020. That's right, ZERO. Now, where’s the fairness in that? It is troubling that we keep narrowing our tax base. Doing so increases our dependence on a small, increasingly important minority.
If the Biden plan passes, it dramatically expands tax credits for children. It also offers more loopholes. In that case, this percentage paying zero could rise to 70 percent of households. How fair is that? Isn’t that the stated goal, more fairness?
The Biden plan adds to a dangerous trend. Do we really want nearly 200 million people receiving free government services while not paying any income tax to support the government? If the government becomes essentially free for most people, these citizens will tend to vote continuously for more free goods and services. Are pigs at the trough fairer than everyone paying their share?
What Biden proposes is an outcome for which our forefathers issued warnings. They worried that when voters begin voting for spending policies that line their own pockets and make other people pay, our representative republic will perish.
The temptation to legally plunder the wealth of the rich is called "the tyranny of the majority." It is why every worker and voter should have skin in the game. We should all care what our government spends money on and how much it spends.
One way to ensure this is to have a tax system that requires everyone to contribute. Yes, that means even if it is only a few hundred dollars of taxes a year. A simple flat tax rate under 20 percent without all the loopholes forces almost everyone to pay some tax each year. It precludes the rich from sheltering the bulk of their income. It solves the fairness issue.
Leftists love to talk about how "we are all in this together," and they are right. But they don’t actually care about the people they pretend to speak for. This is why we must not tolerate an income tax system with more than half of the public paying nothing.
If only the rich pay the taxes, then history tells us there will be fewer and fewer rich people to soak over time. Don’t we actually want the opposite to happen? Just think about it. We don’t have to kill the goose that lays the golden eggs… We didn’t have to leave Afghanistan this way either…