If the left stays in power in the U.S., don’t be surprised if we eventually duplicate the long lines people face in Venezuela. They wait for hours to buy toilet paper and soap. No matter how bad things get the socialists never admit failure. They prefer to see their people waiting in line rather than have entrepreneurs creating wealth. The idiotic Venezuelan president Maduro recently claimed that “Most of the private sector are parasitic bums.” That’s a view that’s likely shared by the Occupy Wall Street crowd. It’s possibly an opinion held by the radical Elizabeth Warren and to some extent by Mr. Obama and Mrs. Clinton.
The left doesn’t get it. In the market economy you only prosper by serving others satisfactorily. If you are dishonest or do a poor job, the consumers will desert you. Does it work? Look at the blessings that surround you. Compare the car in your garage to the ’58 Chevy you might be lucky to own in Cuba. What kind of thick-witted collectivists can’t let this evidence register and reject their Marxist views?
Our liberal president believes we should punish the successful people and reward the unsuccessful. That’s a formula for economic collapse. His idea to apply a capital gains tax to the estates of the wealthy means that in some cases tax levels will reach almost 70%. This is no longer a tax, it’s confiscation. Lenin would love it.
High taxes destroy wealth. Low taxes create wealth. When entrepreneurs keep more of what they earn it enables them to innovate and market thus expanding their enterprise and creating jobs, profits and wealth. We’re never going to restore our economic vigor and bail out the middle class until we quit passing out free stuff and cut taxes to the bone.