The latest Democratic race to the bottom is led by a Democrat primary candidate who says that there should be no billionaires in America. They should be banned.
Elizabeth Warren wants to make billionaires extinct.
Warren is apparently not content with simply sawing the bottom rungs off the success ladder by promoting a job-crippling, ever-spiraling minimum wage that keeps Entry-level workers, especially teens, unemployed.
She and her Democrat colleagues have piled on more bloated ideas, and continue to promote “free” education, “free” healthcare, elimination of student loan debts, dignity-crippling welfare, public housing and food stamps.
It’s almost like a competition to see who can “out-Marxist” the other in a wild, taxpayer-money-grabbing spray of goodies.
The taxpayer in this allegory becomes the piñata full of sweets, the stick in the blindfolded and dizzy Democrat participant’s hand is socialism, and the frenzied crowd of kids are Democrat voters waiting for the other kid to rupture the piñata so they can be showered with goodies.
This is all part of an ever-expanding, growth-crippling Dependency Agenda, which impoverishes the masses, makes them dependent on government and then bribes their votes with taxpayer money.
On top of all this, perhaps in a mad rush to pay for it all, Warren now proposes to saw the top rungs off the ladder by grabbing the assets of our most productive! Didn’t the Bolsheviks do exactly that in 1917? What happened? Everyone they didn’t slaughter became impoverished peasants.
Billionaires shouldn’t have targets on their backs. In America, people of great wealth are the singularly most charitable group of people we have in our society, giving hundreds of millions of dollars away to charities each year. It’s true, they are a minority, but aren’t minorities protected against tyranny under our laws?
In addition, the wealthy in our nation pay huge income taxes, capital gains taxes, real estate, and sales taxes, and they support the economy by investing, spending and hiring loads of well-paid workers, providing families with insurance, benefits, retirement plans, and often stock in their growing and successful companies.
Just digest the following statistics:
- The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).
- The top 50 percent of all taxpayers paid 97 percent of total individual income taxes. …
- In other words, the bottom 50 percent paid 3 percent.
People harp about income inequality, but no one mentions discriminatory progressive tax systems, the inequality they create, and the effect they have in stunting the growth and wealth of nations.
Billionaires also create jobs,- which employ tens of thousands of well-paid workers, who then in turn also pay income and capital gains taxes and sales taxes and spend money that supports our economy.
Trickle down? It’s more like a cascade of wealth that floods our nation with riches, puts food on people’s’ tables, fills retirement accounts, and hence lifts all boats.
Has supply-side economics worked? Well, consider this: Where else in the world are the poor people fat and the rich people thin?
Where else do the “poor” have nice cars, $400 sneakers, expensive clothes, gold jewelry, television sets, fancy custom fingernails, elaborate hair-dos, air conditioning, and smart phones?
Only under free market capitalism in our constitutional republic is all of that possible.
As an example billionaire generosity, Ken Langone (founder of Home Depot) this year gave away $100 million and he has persuaded many others in his economic class to do the same: to offer free tuition for worthy medical students.
Why? More doctors means cheaper and better medical care for everyone, because it provides more choices and more competition and more opportunity for those with less. That’s a societal benefit created singlehandedly by a billionaire.
There are many, many more examples.
In addition to charity, America’s billionaires are the backbone of investment for thousands of startup companies that create hundreds of thousands of jobs, new technology and great wealth. The average entrepreneur starts with a dream, a great and innovative idea, but he or she needs the seed capital to take it to fruition. That capital usually comes from “angel” investors and venture capitalists, who are always millionaires and billionaires.
Do you think the support of future entrepreneurs and generosity of successful entrepreneurs would be there if they didn’t have the excess wealth?
But let’s kill the rich. That will solve everything, according to socialists like Elizabeth Warren and Bernie’s Sanders, who themselves have ironically become millionaires on the backs of taxpayers, yet they give very little to charity. They would rather keep their money and then confiscate and give away your money to buy votes.
Bernie used to condemn “millionaires and billionaires” in his speeches, but now that he’s a millionaire, he only condemns billionaires. Funny how that works.
So ask yourself: Do you believe the money is better off in Ken Langone’s or Warren Buffett’s or the Van Andel or DeVos families’ hands, or in Bill and Melinda Gates’ hands, as they lift the economy and support worthy, charitable causes and entrepreneurial startups?
Or is it better in Bernie Sanders’ and Elizabeth Warren’s sticky hands and those of your wasteful government as they shovel it to their cronies and fritter it away?
It’s a no-brainer, not that it is up to any constitutionally-established republican government to decide what people do with their private wealth. That of course is fascism, and that’s where Warren and Sanders and the rest of the Democrat primary field are headed.
The answer is simple: Starve the leviathan beast in Washington, don’t kill the golden goose and rob us all of the creative forces of entrepreneurial innovation and investment that made America Great and continues to Keep America Great. And above all, don’t let these fascist globalists, who seek to control the means of production, win, for they will surely kill the golden goose.