By Lowell Ponte
According to the media, the Republican tax plan would cut taxes for the wealthy and business.
But, oddly, the media have not honestly told you about the Democrat tax plan, which supposedly is to increase taxes on the rich and companies until they are paying their “fair share,” a term that neither Democrats nor the media ever define.
I have asked left-liberals such as the late Alan Colmes if they would put a ceiling on such taxes. Is there any amount – 90 percent? 95 percent? 99 percent of income? – at which a rich person or company has paid enough and should be permitted to keep the last few dollars earned?
The left-liberal answer is always the same – no top limit on taxation of any kind. The left does not want capitalists to keep anything. The government should take, and control, it all….all earnings, all property, all “wealth.”
What the left calls “wealth,” of course, is actually capital, the accumulated green energy business people use to invest in new jobs, develop new products, and expand or launch enterprises.
The left wants to expropriate all this entrepreneurial economic seed corn for the government — which makes nothing (except political crony boondoggles and war). What is “fair” about government confiscating an ever-increasing share of the value created by private individuals and companies?
This Progressive tax plan aims to increase what are already the highest business taxes of any advanced nation – 10 percentage points higher than the 25 percent business tax rate of Communist China.
Enterprises and entrepreneurs, of course, do not simply pay such taxes. Taxes are a cost of doing business that gets passed on to consumers as higher prices on the goods and services sold.
The Democrat tax plan turns businesses and business owners into the government’s unpaid tax collectors, squeezing money out of you and your family.
Democrats then condemn capitalists for being “greedy” by charging you higher prices – even though the price increases are merely passed-on taxes that enrich the government, not private businesses.
The proposed GOP tax package has threatened to end this cynical con game by lowering, not raising, business taxes. If he succeeds, the economy will prosper, and you will pay less for the goods and services you buy.
But if Big Government politicians win, government will grow larger. The hidden taxes passed on by politicians to all of us will become bigger and bigger. The free market economy will disappear as companies simply become extensions of government regulation, mandates, and taxation. Government will within decades own everything, and we will be reduced to serfs, political dependents in what used to be a free nation.
The Republican tax plan is vague and thus far undefined. The Democrat tax plan is crystal clear and unchanging, and depends on your unthinking green-eyed envy to give leftists power to “tax the rich.”
As Craig R. Smith and I explain in Money, Morality & The Machine, the Democrat tax plan claims to tax business and the rich, but it really plans to impose higher secret taxes on you.
To schedule a fascinating interview with Lowell Ponte, a veteran think tank futurist and co-author of seven economics books, contact: Sandy Frazier at 516-735-5468 or email firstname.lastname@example.org .
For a free copy of Craig R. Smith and Lowell Ponte’s latest book, Money, Morality & The Machine, contact: David Bradshaw at 602-918-3296 or email him at email@example.com