Last week during the Democrat debate, we heard a chorus of “free stuff” from the candidates – in particular Bernie Sanders. Free college tuition! Free healthcare for everyone! Free paid family and medical leave!Now you and I know there is no such thing as “free” in government – or anywhere else in life for that matter. Someone else is always paying for whatever it is you get “free.”
But ol’ Bernie is more than happy to shake down rich people for the extra cash he’s going to need for his programs.As the Washington Free Beacon reports, “Sen. Bernie Sanders (I., Vt.) told George Stephanopoulos on Sunday’s This Week “If we’re going to make public colleges and universities tuition-free as we have to do in the 21st century. yeah we are going to have a tax on Wall Street speculation and ask Trump and his billionaire friends to pay more taxes,” Sanders said.”
“Sanders claimed the billions of dollars in profits large corporations make should be taxed at a much higher rate. When asked how high he was willing to raise the top tax rate to, Sanders was not willing to offer specifics.“We’ll come up with it but higher than it is right now,” Sanders said.”
Now let’s just make the delusional assumption for a moment here that the super rich have unlimited money that can be siphoned away to pay for Bernie’s free stuff and social programs. Even if the IRS confiscated one hundred percent of income over $1 million, the total would be about $616 billion. That’s enough to fund the government for about 2 months.
And in any event, you could only do that once. You think the rich are going to keep producing, keep earning, if one hundred percent of their income is going to be taken away? Of course not! Nobody works for free.As John Stossel writes, “When the top marginal rate was 90 percent, actor Ronald Reagan worked just half the year. As soon as he made enough money such that every additional dollar was taxed at 90 percent, he stopped working and went off to ride horses. Reagan later said that woke him up to the damage that high taxes impose.
Maryland created a special “tax on the rich” that legislators said would bring in $106 million. Instead, the state lost $257 million. Some of Maryland’s rich just left the state. When New York state hiked its income tax on millionaires, billionaire Tom Golisano moved to Florida, which has no personal income tax. “[M]y personal income tax last year would’ve been $13,800 a day,” he told us. “Would you like to write a check for $13,800 a day to a state government, as opposed to moving to another state?”
However, Billionaires aren’t the only ones on whom Sanders wants to increase the tax burden. In his interview with Stephanopolous, he also suggested that in order to pay for paid family and medical leave, all Americans would have to pay more to the government in the form of an increased payroll tax.At last, Stephanopolous got Sanders to agree taxes would go up on everyone. As we reported Friday, it’s not the first time Sanders got the “gotcha” question form a liberal.
With Stephanopolous, Sanders said, “I think if you are looking about guaranteeing paid family and medical leave which every other major country has so that when a mom gives birth she doesn’t have to go back to work in two weeks or an illness in a family, dad or mom can stay home with the kids. That will require a small increase in the payroll tax,” Sanders said.
In any event, at least Sanders is honest that we’re all going to get stuck paying more of our “fair share” under his plan. Honesty is not something dripping from the Democrat front runner right now.
You know, rich people didn’t get that way by being stupid. But it sure seems the middle class is getting poorer by being stupid, and continuing to elect socialists like Barack Obama who keep implementing tax and economic policies which suck away their hard-earned income and prevent job growth. Let’s pray they’re not stuck on stupid and fall for the socialist falsehoods a THIRD time in a row.
[Note: This article was written by the charming but cynical Michele Hickford]