Wealth tax legislation would give government, its bureaucrats and agencies (the swamp) the right to invade your privacy. Government would have the right to examine your home, storage facilities, brokerage accounts, bank accounts and anything and everything else you may own to determine if you have:
CROSSED THE WEALTH–TAX THRESHOLD.
The information you would be required to file would allow the government to access the records of everything you have bought or sold. In short, EVERYTHING YOU OWN. The net result of this kind of democratic produced socialism would in fact, in the words of Steve Forbes of Forbes Magazine:
PRODUCE THE ROAD TO SERFDOM!
Unfortunately for we the people, Democrats and even some Republicans (RINOS) do not understand the crucial role that PROFIT plays in a vibrant economy. That is an economy with real opportunity, growth possibilities, choices and reasonable risk to riches. Profit for Democrats is essentially evil. Democrats, especially radical socialists like Sanders, think of profit as:
GREED.
Democrats cannot envision profit as the REWARD for hard work, smart work, creativity, the creation of things different and better for our country and the world at large. Profit is not stored under the mattress of Jeff Bezos. Virtually every dollar is reinvested, grows the economy and opportunity and:
CREATES JOBS.
The current American employment is vibrant, profitable and opportunity exists everywhere. PROFIT PRODUCES THAT! Profit creates resources. Builds equity. Grows corporations and business entities. Without profit and the ability to make it, the economy not only does not grow but inevitably there come recession and then depression and so much of EVERYTHING is destroyed. That includes the spirit, creativity and positive attitudes about life and lifestyle for so many. A Sanders or Warren Administration would produce higher taxes everywhere. Higher income taxes of course, not just for the wealthy but as far down the economic ladder as the plundering politicians could go. There would of course be higher business taxes, higher taxes on corporate earnings and corporate assets, especially liquid assets. There would be higher payroll taxes. Both employer and employee would pay more. Those higher taxes would include social security payments, now a disaster, retirement and disability and any other way the government could get its money even to the point of double taxation. And of course, estate taxes would increase, the so called death tax and the exemptions now afforded especially to certain individuals now with an estate at or about $5 million and family businesses under similar circumstances would be reduced or eliminated. Where this newfound money would go no one really knows. The Democrats promise so much FREE. Free college, room, board and tuition, FREE. As though it were the right of high school graduates to get some quarter million dollars so that they could learn. And, says Sanders and company, FREE HEALTH CARE. Medicare and Medicaid would be greatly extended (MEDICARE FOR ALL) and the new cost would be astronomical, perhaps more than $2 trillion. And free daycare. And of course, guaranteed huge and ever–growing MINIMUM WAGES no matter the economic effects. The socialist government proposed by the Democrats would give, and give even more of your and my hard–earned money all the while it takes more and more of what we earn and produce. If a Democrat is elected President, and Democrats control the House and Senate of our federal government, America will not only change, but America will never be the same and capitalism, constitutionalism and the rule of law as we now know it will be gone forever. Small wonder the millennials and Gen Z should be concerned about the future, their economic future. It is indeed surprising, even shocking that so many of them seem to think so favorably of socialism, and especially the radical socialists (Marxist) candidate Bernie Sanders. Nothing could be worse for America than a Sanders presidency, NOTHING! Plundering politicians would have free economic reign. Tax rates which once approached 90% of income, NINETY PERCENT would be a real possibility. And a new depression, a new 1929 depression would be an ever present possibility indeed.
But back to profit. We the people work with the expectation that we will not only keep our jobs but grow in compensation. That is, make more as we earn more and deserve more. We the people at every level are concerned with growth, with PROFIT. Profit is not only necessary for expansion and growth in existing businesses. But profit must be made in order to replace the capital lost by failed businesses, especially those which are destroyed by new technology (creative destruction). Take for example the wealth once held by legacy newspapers and magazines. Along comes the internet and with its incredible successes, destroyed tens and tens of billions of dollars in such print wealth. The same so called creative destruction occurs in the automobile business where old models are removed and the new produced. Even old legacy manufacturers like Oldsmobile, and Packard, and Mercury fall by the wayside and billions of capital dollars are lost. Those monies must be replaced and the only replacement is:
PROFIT.
Businesses and individuals must make a profit or the economy withers and dies.
Americans expect profit. We the people desire profit. We want the wealth which profit produces, the advancement of our lifestyles which can only be achieved through profit. We the people believe in profit. We can accept as a natural consequence a certain amount of greed, unethical even criminal behavior by some provided that the vast majority of individuals and businesses are in fact ethical, law abiding and making the right economic decisions. We assume that business and the profit it makes will reinvest, make certain their business entities are state of the art, operating with the latest technologies and producing new, different and better products and services that will indeed enhance future living standards. That of course is upward economic mobility and it is nothing but the highest good for the average man and woman, for the working man and woman, for the American man and woman who seeks a better life. ONLY PROFIT CAN ACCOMPLISH THAT.
We the people need to think through so very thoroughly who we are and in what we believe. We have always been capitalists. We believe in opportunity. We believe in economic risk and reward. We want to live and work in a vibrant economy. We want economic mobility, the ability to change and move in different directions. We believe in the purist form of economic freedom and we are not socialist at heart much less Marxist. We believe that hard work produces its own rewards, its own PROFIT. We set goals and we work to realize them. We have our own definitions of THE AMERICAN DREAM and we will not give it up and find ourselves under the control of a Bernie Sanders, Elizabeth Warren or any socialistic democratic Presidential candidate like them.
But there is some real possibility that one like them will be nominated by the democratic party for President and even some possibility that such a non–American could be elected. With such President, and a democratic controlled House of Representatives and even a possibility of a control of the US Senate, the America we have known for more than 240 years will be gone. I for one do hope and pray that never happens. As a traditional, constitutional, freedom–driven American, I have no choice but to vote Republican and that for me means to work as hard as I can for the reelection of Trump and all candidates who believe as he does in traditional America. November 2020 comes soon, my fellow Americans, very soon. The political process has been at work since early 2019. You should even now know the issues, the candidates, the parties and platforms so that you can make intelligent voting decisions at all levels. There are those bent on changing, fundamentally changing America like Sanders and there are those who would fundamentally destroy everything that America has been and is, like George Soros. I for one do hope and pray that you are different, that you will become involved, that you will do what you can to keep MAKING AMERICA GREAT AGAIN. America is more than Donald Trump, or Republican or Democrat. America is a way of life, a vision, a DREAM. It is the land of the brave and the free and we must keep it that way. It is a republic, where democracy reigns and we cannot allow democratic socialists to extinguish our freedoms, water down our constitution and its amendments and change the very fabric of our country. We are a republic only, as Benjamin Franklin warned us, if we can keep it. If we the people understand the issues and preserve and protect those freedoms.
Ronald Reagan warned us that freedoms once lost are lost, GONE FOREVER! If we elect a President who is socialist, we elect a plundering politician who will destroy so much. Don’t let it happen, my fellow Americans. DON’T LET IT HAPPEN! We live in the greatest land in all of history. Let us preserve, protect and defend the one of a kind:
AMERICA.
