Why can’t Americans understand who is paying for deficit spending?

0


In the distant, distant past, I was a Reagan Republican. Back then, politicians were talking about the national debt and how the budget deficit was an endless burden on our children and grandchildren.

Just a few years ago, presidential candidate Mitt Romney and his running mate Paul Ryan staged campaign events with a “national debt clock” spinning in the background.

America today is a society of rights, and we are all jealous of our own piece of the government pie, to which we have not contributed much.

In 1936, the average lifespan was less than 60 years, so an advantage from age 65 probably seemed a safe bet for FDR. It was a “safety net” that most would not live to use. Now the Social Security Trust Fund (don’t trust it) is going bankrupt because people live too long and can never contribute enough to write a check for 20 years or more.

Since most Americans seem to no longer care about the public debt, we have unleashed a liberal wave of spending and giving. How long would your household last if you borrowed all the money you spend each month? If your bank hasn’t interrupted you, or if you’ve found a way to print your own money, you can give gifts to all your friends, invite strangers over for expensive meals, and subsidize a nice apartment for your sister and her. boyfriend.

If you were our government, you could multiply this generous attitude by millions of people, thousands more crossing the southern border every day. The tragic joke is that progressives believe that these policies of unlimited spending will help lift people out of poverty. Seasoned Democrats like Nancy Pelosi and Joe Biden know it’s a lie, but it’s a pitch that still works.

Starting with Lyndon Johnson’s Great Society, our government systematically created an entire underclass that had never existed before. Why struggle with employment when rent, food and medical care are covered by your welfare state government?

The most damaging lie now widely accepted by undereducated voters is that our omniscient leaders can pay for it all with higher taxes on the “rich and the corporate.”

There is no better example of how this works than the price of gasoline. In 1968, gasoline cost 25 cents a gallon in California. Yes, wages and shipping costs were also lower, but taxes and environmental regulations were largely lacking in 1968. Is it the rich, corporations and clean air activists who are paying taxes on? increased gasoline at the pump, or is it you?

Our “green lobby” will insist that all Americans buy an electric vehicle within the next decade. Do they care that this will increase utility rates in our mandatory all-electric homes? This should help solve the affordable housing shortage.

President Joe Biden plans to increase the tax on all tobacco products “for the sake of the health of the nation.” Is it going to hurt the rich and the businesses, or the poor addicts in Marlboros?

Very expensive new regulations set to be implemented in January will increase the cost of doing business for every California retailer and manufacturer. You don’t have to be an accountant to quickly deduce that companies have to pass the increased costs on to their customers to stay in business. If the rent, garbage, water, and electricity go up, so does the cost of your pizza. If wages go up, the cost of your groceries goes up too. The math is always straightforward. You end up paying more for every “useful” idea, regulation, or tax from local, state, or federal government.

If the Biden administration succeeds in passing legislation that makes our corporate taxes the highest in the civilized world, jobs and businesses will flee the country once again. They need to make a sustainable profit to stay in business and keep shareholders happy. Big companies are now multinationals. They will go where regulations and taxes are best for their bottom line.

The emergence of new regulations and mandates to spur unionized jobs and higher wages by progressives will do the same for manufacturers and supply chains that have small margins. Companies and manufacturers will either head overseas again or expand to Asia, where OSHA and unions cannot reach them.

I don’t interact with a lot of the super-rich, but having watched people like the Clintons, Jeff Bezos, and Bill Gates for a number of years, I’ve come to believe that by using charitable trusts correctly, Foundations and Tax Lawyers at $ 1,500 an hour, you can plan for any tax plan developed by Congress. I’m not sure the part-time girl who does your taxes at H&R Block can do anything similar to you.

Let us all pray that the infighting over spending and the limit of the national debt among the ruling elite will produce a beautiful and necessary impasse. That way we can at least slow down the borrowing of money that we can’t pay back to give people for programs with no noticeable benefit.

Contact Pat Orr at [email protected]


Share.

Comments are closed.