Immediately after the 2012 Presidential Election, the Dow Jones plummeted, companies announced layoffs because they would not be able to afford the cost of Obamacare and the increased taxes associated with it, jobless claims went up 78,000 and the President stated he wants to bring in $1.6 trillion in revenue through taxation.
This administration has raisded our debt to $16 trillion and then wants to tax citizens in order to pay for it. Where is the outrage?
Which leads us to ask – how does taxing people make the economy better? If you take $1.6 trillion out of the economy through taxation that logically means there is $1.6 trillion less to spend. People will have less in their pockets to take their family out to dinner, to make repairs on their homes, to enjoy a vacation after working incredible amounts of hours, to fix their car, to buy a car or to enjoy any number of simple pleasures in life. This ripple effect then impacts the businesses that supply these goods and services. When they are not making enough money, they have to lay-off employees. Now these employees become part of the government dole and those with a job will be the ones footing the bill.
Will Americans' lives now be relegated to working only to have their income taken from them in order to pay down the irresponsible amount of debt created by this administration? Under these circumstances, why would anyone even want to work if you cannot keep what you earned? The incentive to work is taken away.
Government takes money from you in order to do what with it? Pay for programs that don’t work? Give loans to solar companies that go bankrupt? Wouldn’t you, as a taxpaying citizen, like to see a return on your investment, especially since you will be left with much less in your pocket?
Keynesian economics are a lie. Taking money from citizens in order to stimulate the economy doesn’t work. It only serves to grow the government because now we need to pay for departments to handle the taking and redistributing of money. Added to that, Government programs don’t work. The post office is in a mess and now wants more money from us to get out of it. In return, they no longer want to work on Saturdays. What a real bargain this works out to be for the taxpayer. Welfare, which was once a safety net to help people get back on their feet after a disaster, now has become a way of life for far too many people.
Entitlements are eating up our budget and no one wants to address the reality of the situation.
Here’s the problem with entitlement programs – the very word entitlement. Once we feel entitled to something, it’s nearly impossible to address the situation. And what people are entitled to is paid for by other people. The government pays for nothing. It must take the money to fund these program through taxation (or printing or borrowing) to give to someone else.
Sure, it sounds great to say tax the rich and the wealthy corporations. Result - now the rich won’t spend money on the things that that support industries that employ the middle class and corporations will just pass the added expense on to us. But when they run out of rich people’s money to take, they will be coming after yours.
The government’s appetite for your money is insatiable. When there is no one left to take money from the government will either have to print more and borrow more from China. We can look forward to massive inflation or to being indebted to a foreign country.
Yes, we’ve all heard about the incredible mess this President inherited from Bush (yawn). But in four years has the President made it better? No. He’s just increased our debt and gave billions of YOUR tax dollars to businesses owned by his donors, which have turned out to be complete failures. Now some of the President’s donors are laying people off due to the cost and implications of Obamacare.
More people on unemployment now means even less revenue coming in to the government. When more people work, the government brings in even more money. Less people working equals less tax revenue.
This is one incredible mess that 51% of Americans voted for. If only there was a way for them to be the only ones to be on the receiving end of the policies they voted for and leave the rest of us alone.
So, will I be seeing all of you job producers in Galt’s Gulch?