Tuesday, November 25, 2008

Why Raising Taxes Has Never Worked and Never Will

Democrats love to use the inherent jealousy of the rich to justify raising taxes and increasing government programs, and by extension, power. For reasons that escape me, a large section of America just doesn’t understand why this is always a disaster.

Sean Hannity is fond of asking the question, “Have you ever been given a job from a poor person?” Of course not! The rich drive this economy. They provide millions of blue and white-collar jobs. They are rich because they provide products and services that the public is willing to pay for. I love my car, cell phone, Internet, TV, computer, etc, etc. Take their money away and you take not only the potential of a new job away, but most likely an existing one.

Now think about it, when you have an unexpected expense, be it higher taxes or otherwise, what do you do? Do you spend as usual? Probably not. You cut back somewhere else. For me, maybe I skip my daily Slurpee from 7-11. Maybe I work some extra hours. Maybe I cancel my beloved Blockbuster Online account. The point is something has to give. The rich play by the same rules as we do. When the government raises the taxes on the rich ‘evil’ CEOs, they simply pass these increases on to you, the consumer, or to you, the employee. They don’t take one cent in profit reduction. When Obama gets around to raising taxes on the ‘wealthiest’ Americans in order to “Spread the wealth around,” understand that all this results in is the poor getting poorer. Prices for products go up and people lose their jobs.

Case and point; look at the Big Three automakers currently begging for a government bailout. Government and the United Auto Workers (UAW) fought for higher wages and work condition regulations. The result has been that American automakers cannot compete with foreign manufactures that do not operate under the same restrictions. Why? Because the Big Three CEOs passed those cost intensive UAW and government regulations costs right to the sticker price of every vehicle.

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