Trish Regan: What 2020 Democrats don’t understand: Higher taxes are never the answer
If you had any doubt, any doubt at all, about the direction the left wants to take our country in, it is now crystal clear. The United States as we know it — with the world’s largest, most productive, most creative, nimble and successful economy in the world — will cease to exist. There are two paths ahead: that of economic success and that of economic failure.
Now, let’s be clear, I don’t disagree with many of the complaints we heard from the 2020 Democratic presidential candidates about our economy last night. The balance between labor and capital or employees and business owners is totally messed up (in the favor of business owners.) But, are you really going to ditch capitalism in favor of Venezuela-style socialism because of it?
In other words, the diagnosis of the problem, that our middle class is struggling is correct. I mean, it’s way better now and much improved compared to where it had been given our strong economy but, yeah, the middle class keeps losing out. So, they got that right.
However, their prescription for this problem is just so wrong. Can anyone come up with an idea that won’t penalize the middle class, please?
Higher taxes are their answer to everything and that’s dangerous. The left wants to tax businesses, investors and income earners. Well? Anyone who can afford to will leave. And, the government will be left with everyone else, the ones who want to be supported by government, the people who come here for open borders, free health care, free college and basic income — do you have any idea how much that will all cost?
The tax bill on the middle class will be enormous. The rich will leave, just like they did in France when Francois Hollande pushed his insane 75 percent tax rate, and the poor won’t have to pay. So what do you get? Even more taxes on the middle class.
It’s just wrong. It won’t work. They ought to be more responsible citizens but, wait, they’re politicians. They’re politicians who just want to sell a bunch of pipe dreams grounded in nothing but fiction.
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On a brighter note, Ireland is now advertising that it needs new citizens. An island there is trying to entice Americans to relocate. If any of those ludicrous socialist economic policies actually go into effect Ireland might get some takers!