One of the most common fibs told today is the Occupy Wall Street style deception of "tax the rich." First, we can't close the budget gap by taxing the rich. John Stossel insightfully wrote earlier this year in Forbes:
"But it’s a fantasy to imagine that raising taxes on the rich will solve our deficit problem. If the IRS grabbed 100 percent of income over $1 million, the take would be just $616 billion. That’s only a third of this year’s deficit. Our national debt would continue to explode.
It’s the spending, stupid."
But let's take a step back from the above and realize something almost no one speaks or writes about anymore. Namely, that the cost of every tax – or the cost of every regulation – gets passed onto consumers. "We, the People" pay for those taxes, like it or not, when we do business with those 'rich guys' companies.
This bears emphasis, because it is so overlooked. Every successful business must pass the cost of their taxes and regulations onto their customers!
Because of widespread economic ignorance, the cost of those taxes are 'hidden' from the poor and middle class tax payers, but it is a shared burden nevertheless.
When sharing this reality with those who have never considered that fact, please help them to let it sink in deeply. Patience, prudence and persistence are needed when teaching – or learning – anything. We will share a tool below to make it easy.
You Never Get There
Mitt Romney alluded to the reality of this taxation impact in the debates indirectly when he said, 'you never get there' with hiking taxes on the rich. As interesting as debates may be, part of the problem with the presidential debate format is you don't get time to explain key points or provide enough detail in 60-120 seconds.
The only way to balance a budget is to cut and control spending, while creating an economic climate that encourages investment and thus growth. That means less regulations and lower taxes improves the opportunity for all involved. That means not tinkering with taxes and regulations every year, which creates uncertainty and yields a different kind of economic disincentive to investment.
Problem or Solution
There is much wisdom in the adage, “You are either part of the problem or part of the solution.”
Paraphrasing Edmund Burke, “The only thing necessary for the triumph of evil is when enough good people do nothing.”
By sharing the truth of taxation, regulation and its economic impact on others, we become part of the solution. When one fails to pass along the solution, through silence or inaction, such souls are part of the problem.
Taxing the rich while not taxing the middle class or the poor is a delusion, fraud, deception or lie. It isn't about the 1% vs. the 99%. Taxing the rich simply gets passed on to consumers, so it limits us all. It is like the impact of higher gas prices on this who don't own a car. Even those adults who don't drive or own a car still pay for it because other products and services rely on transportation.
The proper role of government is to protect what the Declaration called our God-given unalienable rights, not to hamstring or hamper them.
There will always be a balancing act between not too much or not too little government regulation. Certainly we have blown passed that ideally balanced line in recent years. Giving ever more taxes or more power to the federal government over our lives would be a mistake. The time to pare back regulatory over-reach, taxes and deficits is now.
Remind and share with your friends, contacts and circle of influence about the truth about taxation and regulation. One key to returning to a more robust economy is encouraging growth by limiting taxes and regulatory overreach.
Click to see the rest of the Everyone's Taxed Purely Political Cartoon
Please help expose the “Tax the Rich Lie,” it is a worthy effort. You can share the link to the Purely Political cartoon above with anyone, where it will lead them to discover this truth about taxation while discovering the truth about manufactured housing.
Bottom line: Vote for and support tax and regulatory reformers! You'll be glad you did. ##
PS: Check our many Exclusive and Red Hot Featured Articles for October and see the
other new stories and 'Purely Political' cartoons at MHLivingNews.com too.
L. A. "Tony" Kovach
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Whether you think you can or whether you think you can't, you're right. – Henry Ford
