Posted by
42jeff on Tuesday, October 21, 2008 3:44:14 PM
Will Atlas Shrug?
What are businessmen to think if a substantial tax hike is put on them at the same time the low income bracket is given a large tax reduction? What if those driving forces in our country that worked hard to be successful suddenly realize they’ve had enough of being taken advantage of and close their doors?
What then?
Redistribution of wealth is not what this country was founded on. “Socialism” is defined as “the stage following capitalism in the transition of a society to communism, characterized by the imperfect implementation of collectivist principles.” It needs to be understood that it’s the big companies that decide whether or not to build a new store or factory. If they are suddenly burdened by a heavier tax load to “spread the wealth”, won’t they just lay people off or increase prices rather than see diminished profits? Some goods will get more expensive meanwhile there are more people out of work. How does this help the economy? How is this “patriotic”?
Another candidate says he wants across the board tax cuts and is criticized for giving larger breaks to the rich. Only that’s fair, see? An evenly applied tax break will benefit the more wealthy because they’re already paying a larger share of the tax load.
I saw a story once about six men who dined regularly at a restaurant and divided the bill up proportionately by income. The one making the least ate free while the wealthiest paid the most. One day the waiter gave the men a 10% refund for their faithful business. The men decided to split up the discount by the same ratio that they paid by. The next poorest wound up eating free while the one paying the most got the largest refund. The other men were angered at their smaller refunds and the one eating free to begin with was upset because he got nothing.
If the wealthier in America do finally decide they’ve had it and either leave the country or close their doors, the economic downturn we’ve experienced the past few months will be nothing in comparison. The jolt the nation will feel when Atlas does finally shrug will resound around the planet and for years to come.