December 14, 2011 (Posted December 15, 2011)
For Progressives, the purpose of taxation is to fund an unlimited government with the power to achieve “fairness” by transferring wealth from one party to another. The progressive tax is the instrument of choice because it makes it look like those who pay little or no taxes can benefit at the expense of “the rich.” Although this pitch may win elections, it is not sustainable because it is based on the illusion that those with high incomes and wealth do not have the power to shift the burden of taxation onto their employees or suppliers or customers. Although Progressives insist otherwise, increasing marginal tax rates is associated with slower growth, high unemployment and a shrinking middle class.
Property rights and the enforcement of contracts are also anathema to Progressives. In their view, expansive rules and regulations can narrow the differential of power in the workplace and among economic agents. But, the regulatory state now threatens the middle-class. Today, for example, banks spend more on complying with an ever more burdensome regulatory regime than they spend on making loans. No wonder they are laying off thousands of middle-class workers as they cut other costs in order to maintain the profitability that is the pre-requisite for staying in business.
December 15, 2011 | Categories: 2012 Election, Agency Regulation, America's Freedoms, America's National Security, Americans Reject Sharia and Islamic Supremacism, Balanced Budget, Class Warfare, Cloward and Piven Strategy, Congress, Constitutional Responsibilities, Corruption, Corruption in Government, Deficit, Due Process of Law, Economic Security, Economic Terrorism, Election 2012, Elections Politics, Employer Uncertainty, Energy and Oil, EPA Regulations, Excessive Government Spending, Financial Sector, Fiscal Responsibility, Freedom Justice and Liberty, Fuel Prices, Government, Government Appointments, Government Regulations, House of Representatives, Illegal Election Funding, Insurrection, Jobs, Liberal Scare Tactics, Liberals Big Spending and Taxes, Manufactured Crisis, Media Corruption, Most Americans Reject Socialism, National Debt, National Security, New Media News, Political Incompetence, Politically Intentioned Crisis, Politics, POTUS Deception, POTUS Elibility Issue, Progressives pushing for Marxism/Socialism, Radical Liberal Progressive Left, Redistribution of Wealth, Religious Freedoms, Senate, TEA Taxed Enough Already, Terrorism, The Economy, The Environment, Treason, Uncontrolled Protesters, Undermining Constitution, Unfunded Union Pensions, UNION Corruption, UNIONS ACORN and SEIU, United States Court System | Tags: bad president, Congress, Culture of Corruption, extreme number of regulations, fairness, marxist, Marxists in the White House, Most Americans Reject Socialism, Obama, politics, progressive tax, property rights, Socialist, stark progressivism, tax-the-rich, unsustainable | Leave A Comment »