I was driving home from a Sunday morning speaking engagement when I heard a Democrat argue that taxing some people at the 80 percent level “would not impact economic growth. Heather Boushey, the chief economist and executive director of the Washington Center for Equitable Growth, said that raising taxes to nearly twice the current level on some would not hurt America’s economic growth according to a paper by a colleague of hers.” (Source)
Let me tell you what she’s really saying: It’s OK for the government to steal 80 percent of some people’s income. The claim that taxing some people at the 80 percent rate won’t have any negative impact on the economy is irrelevant.
What right do voters have to elect people to steal for them? There is no such right. Theft by majority vote is still theft. Here’s the kicker. The people who elect people to steal for them rarely benefit by the theft. Most of them were in poverty when the vote took place, and they will be in poverty long after the theft was accomplished.
Democrats and the nincompoops that vote for them believe that more money will mean greater prosperity for everyone. At least that’s how “taxing the rich” is sold to voters. What the Democrats are really doing is spreading financial misery around to more people. A better name for the Democrat Party should be the Shared Misery Party. If there are people making more money than the average person, then they should be made to share in the misery by having their money taken from them. There are enough Americans who believe this is the purpose of government.
If people on an individual basis can’t steal from people who make more money than they do, then what must happen is to elect people who will do the stealing for them in their name.
When the 16th Amendment was passed, it was meant only to tax the rich. So, of course, the majority of non-rich people thought it was a good idea. Like so many government promises, the government lied:
“The American people were led to believe that the ‘income’ that would be taxed under this amendment was what we today call ‘unearned income,’ that is, profit from investments, dividends, interest, capital gains, and net income from business and corporate earnings.
“The term ‘income’ did not apply to wages and salaries. That was considered ‘earned income,’ income received from labor, and not ‘unearned income,’ the money fat cats made from investments and their corporations. What we call ‘unearned income’ was the target of the 16th Amendment.
“The American people were told that the income tax provision would apply only to the top one percent of wage earners, and would sock them with a one percent tax on income. The rest of America – you know, the ones who had to vote for this thing – were told we would be left alone. None of this would apply to us.” (Source)
With all the extra money that has been confiscated by redefining the 16th Amendment, our government has become a political Behemoth with a political slave class that keeps the political master class in power to enrich itself.