Why The Democrats are Right on Economy & Taxes

Why The Democrats are Right on Economy & Taxes

(Even a Broken Clock is Right Twice Daily)

I’ll admit that I don’t agree with the Democrats on much. But I have to on this one.

I don’t know why it’s so hard for so many conservatives to admit that on the issue of economics and taxes the Democrats are right. I don’t know why we can’t see the good and bad in each party.

Fact: Trickle Down Economics is a failure; the rich don’t create jobs consumers do. If the government gives Mr. & Mrs. John Q. Public a stimulus of some kind such as a tax break they will go out and buy things like more food or clothing etc. They will create a market and therefore create a job. If there is a market someone is going to invest in it. If instead of stimulating Mr. & Mrs. Public the government does what the GOP says and gives it all to the rich the economy is harmed.  The GOP claims it all runs downhill. Well allot of things run downhill but money is rarely one of them. If a rich man gets more money he will sit on the money or invest it. He will only invest the money in a market (there’s that word again) that gives him the best return. Remember its Mr. & Mrs. Public that creates the market and not Mr. & Mrs. Rich. Instead the money would be probably invested in some foreign factory that employs 12 yr. old slave labor. Economist around the country have ran model after model and the conclusion is that trickle down economics is a failure. We tried trickle down for years and the result has been a failure. I know what some of you are thinking. What about California? True their economic plan has been a failure. This is due to the massive government (which is another issue) and the fact that the rich can easily invest in another state because California hasn’t seceded from the union yet, (I wish they would). This brings up another point, America made a huge mistake by allowing overseas investment which was another trickle down idea.

Fact: The rich were taxed more during the 40’s, 50’s and 60’s and the economy was booming. Why because trickle down economics doesn’t work.

Fact: Money is taken not made. There is no more or less gold today than there was 2000 years ago. It takes a poor man to create a rich man. Actually it takes many many poor men to create one rich man.  If more circulation of money creates a better economy then having the rich hoard the money is bad for the economy.

Fact: More millionaires don’t equal more jobs. The GOP always says it’s the rich who create jobs. If that’s the case then if we have more rich folks then shouldn’t we have more jobs? In the last decade the rich have gotten richer and the economy has gotten smaller.

Fact: Who is footing the lion’s share of the taxes? Mr. & Mrs. JQ Public. Although on the surface the stats show that it is the top 10% who pay most of the taxes, after further analysis we can conclude it’s the average folks who are footing the bill. According to the GOP the poor rich are overtaxed. According to them over half of the American people pay no taxes and it's the poor downtrodden rich folks who are footing the bill. Remember Georgie B? You know they guy who wrecked the economy in eight years? Actually it was father George Sr. who said it. He didn’t do such a great job on the economy either. He said if you raise taxes say on a lamp manufacturer then the cost of the taxes are rolled into the price of the lamp. So what he’s saying is its Mr. & Mrs. Public and not the rich who are carrying the tax hike. George Sr. is saying that the GOP is wrong. Now I know what you are thinking. Lets not raise taxes on the rich because it rolls down to us. Think again, if a lamp manufacturer is getting $50 per lamp he is going to charge $50 no matter whether he pays $5 in taxes, or $10 in taxes as long as he is still able to make a profit. Granted his profits will decrease which means he will have to work a little harder to make the same money. In other words he is going to have to hire more people. The company that I work for raised their prices because of the gas rate increase. Well when the price gas went down, we didn’t lower our prices because we knew the market. It’s the whatever the market will bare approach.

The GOP claims that 50% of Americans are basically bums riding the poor rich. Lets consider that most of the people in the 50% that don’t appear to pay taxes are the elderly who paid during their working years, the disabled who also paid while they were working, and the young who will pay when the reach adulthood. Hey some of these elderly and disabled are veterans. The real bums are those that live on Wall Street and the ones in Washington.

I will admit that there are some working people between the ages of 18 and 65 who pay no taxes. Well these folks are really getting the shaft because the rich are underpaying them. Notice how everything is going up except salaries? The rich always claim they’re paying a tax rate of over 30%. Studies show the average corporate tax because of the loopholes is 14% to 15%. Also the GOP fails to point out that the rich receive about 40% of the revenue. Wouldn’t you trade 15% or even 30% to get 40?

If the rich are so overtaxed then lets make a deal with them. No loopholes, no bailouts, no limited liability protection, no tax shelters, and only a 15% national sales tax. Guarantee they wouldn’t take the deal.

Fact: Most of the rich became rich through unethical means.  Notice I said most no all. I believe if you make a million from hard work and treating your neighbor right then God bless you. However, there are too many people making money on the backs of others. Most of us are pro business in that we support the free market. But in today's world we have more rigged markets than free markets. In other words, crony capitalism.  I see so many rich people complaining about excessive socialism and they're right we should complain. Yet they have no problem with socialism for the rich. Take a look at the stimulus packages, or what about the big bankster bailouts? Oh and what about those businesses who default on their SBA loans? Who pays? You and me, that’s who. The rich complain about regulations except the ones that benefit them. Some regs like those that keep toxic waste out of playgrounds are good. Trust me if these regulations weren’t in place some rich guy would be poisoning your children. There is nothing wrong with being rich as long as you make your money the way the All Mighty intended. I remember something about the sweat of your brow. But that isn’t the norm. I’ve worked in the private sector most of my life and my personal experience is that the rich at least most of them got rich by being crooked.

Fact: Most of the rich are self serving and narcissistic. Again, I said most not all. I remember reading an integrity study. The study found that the richer the person was the more likely they were to lie and steal.  Remember the kid is school who was always sceaming of a way to get on top? You know the one who broke the window with the baseball and said his friend did it? That kid probably grew up to be rich. The good news is that the kid probably got his ass kicked before he got out of school. The little bastard probably became a lawyer or a banker.

Fact: It was the rich who lobbied for fewer regulations, which caused the economic crash.

Fact: It was the rich who lobbied to drop taxes and regulations on imports, which resulted in millions of American jobs being lost to foreign slave labor. That Free trade, global trade, NAFTA thing isn’t working out to well is it?

Fact: It is the rich who buy off our politicians with campaign contributions.

Fact: It is the rich who says your parents are selfish because they want the social security they earned. That the 90% should be the ones who sacrifice. It’s high time that the rich pay their share. It is the rich who are forcing America to be more socialistic which is something we don’t want.

Again the Democrats aren’t right on much. But they are on target on this one. If the GOP would stop coddling the rich they would be a good party. If Obama wins it’s not because the American people agree with his leftist agenda. It’s not because they are socialist or want bigger government. It’s because they are worried about the economy because America can’t stand much more trickle down economics. “Remember the Mission”, which is to “Preserve the Free Republic” called the United States of America. If we can keep our eye on the mission maybe we can accomplish it. This is hard to do given that the American people are distracted by party platforms and a media that refuses to tell the truth. I’m not saying whom you should vote for. But get off the bandwagon and see the truth that neither party is always right.