Last minute debt deal a day late and $4 trillion short

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November 14th, 2009
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God Bless The Rich!


Lately, I have been hearing ever more clearly the refrain of an old chorus...

By David Belle Isle


Lately, I have been hearing ever more clearly the refrain of an old chorus. Its volume has grown, and in these times of uncertainty, its popularity is assured. It is assured, however, because so many believe this chorus does not apply to them. Rather, they feel this chorus could only improve their lives. And so, they sing: “Tax the rich, I want my share, tax the rich, it’s only fair.” After all, we’re told: “they can afford it.” To that, I say: “Yes, but they feed us!”


It’s true that an additional 10 to 20 percent tax on the income of the rich won’t destroy the rich. They’re rich. Likewise, it is also true that making it less profitable for the rich to do business through increased taxes and regulation will not destroy the rich. Again, they’re rich.


But, consider this: when the rich have less income, they spend less income. They spend less on housing, entertainment, restaurants, clothes, cars, advertising and charities; all things built by, run by, sold by, and depended on by the non-rich.


Moreover, when the rich find it less profitable to do business, they don’t do business. They don’t need to. They’re rich. And, when the rich don’t do business, they don’t need the products and services of the businesses that once supported their ventures. As a result, those non-rich business owners must close or lay off employees. They too are not rich. Indeed, once unemployed, they are even less rich.


So, yes; the rich can afford it. But, the non-rich cannot. We, the non-rich, cannot afford for the rich to pay more taxes or for it to be less profitable for the rich to do business. The rich feed us. A higher tax on the rich is but a trimming of their riches, but the same higher tax on the same rich results in the unemployment and financial ruin of the non-rich; the ones for whom the higher tax was not intended. We cannot, through government, gift ourselves the wealth and opportunities of others and consider it free. There are consequences to looting the opportunities of others and spreading their wealth, and those consequences extend to both the rich and non-rich alike.


Taxes and regulations stand as the great silent destroyer. In limited amounts, taxes and regulations are desirable, of course. But, the greatness of our country was not born out of the size and scale of our government; the greatness of our country was born out of the abundance and breadth of our opportunities. And, make no mistake: It is the abundance and breadth of those opportunities that has made our nation’s prosperity possible. Opportunity begets opportunity. The more we allow, the more we have.


We must not, as a nation, lose sight of the fact that government cannot “create” opportunity. Like wealth, the government can only give to one man what it first took from another. When the government redistributes opportunity, it can only do so because it first took it from someone else; applied its overhead to it; extracted its power from it; passed its moral judgment on it; determined who is “worthy” of it; and finally limited the extent of it, so as not to make anyone … rich.


This is folly. When the government feeds us, we get food stamps and alms. When the rich feed us, it’s an exchange. It is value given for value received. In this way, we, the non-rich, get the opportunity to be rich ourselves; first, in the pride of our self-sufficiency and mutual contribution, and ultimately through good ol’ American monetary accumulation.


The way out of this recession is not healthcare on the backs of the rich. We cannot spend our way to prosperity. Likewise, we cannot build our way out of this recession with more bridges and roads. The way out of this recession is to leave the money in the hands of the rich, so that they may put it in the hands of the non-rich. The way out of this recession is to let opportunity beget opportunity and by so doing, leave opportunity within the grasp of us all. To the well-intentioned advocates of a big and “helpful” government: “Get out of the way!” God bless the rich; God bless the non-rich; and God bless America!

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