Spring Break
Wealthy and poor alike, what do you think about no taxes?
Peter Druckenmiller
Issue date: 10/22/08 Section: Forum
A further concern when raising taxes is the impact on the poor. While on paper taking money from the wealthy and giving to the poor sounds nice, history shows us that when a corporation's costs go up (as they would with higher taxes), the costs are passed to consumers in the form of higher prices. What good is a $1,000 check from the government, if the result of higher taxes is an increased cost of living by $2,000? This could be manifested in higher food, clothing, rent or any number of other costs.
An Obama Presidency will result in a more expensive world for us to live in. Whether we live in this world as college students, parents or just consumers, prices will go up across the board. This will result in an increased dependence upon the government to solve our problems. This dependence is the beginning of Obama's planned expansion of a socialist/welfare state.
The government has grown under the Bush administration for the past eight years, and under Obama it will grow at a geometric rate. Obama wants a universal health care policy regulated and run by the federal government. That would have been a tall order under the best of economic circumstances, and was proposed back in the Nineties when the economy was booming. It didn't happen. Obama and Biden have both criticized the $10 billion a month we spend in Iraq, but want us to increase our military operations in Afghanistan and South America - how much will that cost? Obama wants to reduce the deficit, increase government spending, and cut taxes? Something has to give.
The proposed tax policies of Obama and Biden won't hold up to their agenda. Taxes will have to be increased across the board to offset the higher spending. The "$250,000 and above" benchmark will have to be adjusted to include more incomes, possibly dwindling down to as low as $50,000. Then it would be the vast majority of Americans who would pay higher taxes under Obama. How would we feel about wealth redistribution then?
Martin Niemöller once said, "When they came for me, there were none left to speak out." He was referring to the Nazi's ideology of selecting one group to persecute, and laid out the Nazi progression from Communists to Jews and finally to himself. The same logic should be employed when examining the class warfare of Obama and Biden: if we allow any to be exploited (wealthy or not), then we are allowing all to be exploited.
Peter Druckenmiller is a junior in new media communication. The opinions expressed in his columns do not necessarily represent the opinion of the Daily Barometer staff. Druckenmiller can be reached at forum@dailybarometer.com.
An Obama Presidency will result in a more expensive world for us to live in. Whether we live in this world as college students, parents or just consumers, prices will go up across the board. This will result in an increased dependence upon the government to solve our problems. This dependence is the beginning of Obama's planned expansion of a socialist/welfare state.
The government has grown under the Bush administration for the past eight years, and under Obama it will grow at a geometric rate. Obama wants a universal health care policy regulated and run by the federal government. That would have been a tall order under the best of economic circumstances, and was proposed back in the Nineties when the economy was booming. It didn't happen. Obama and Biden have both criticized the $10 billion a month we spend in Iraq, but want us to increase our military operations in Afghanistan and South America - how much will that cost? Obama wants to reduce the deficit, increase government spending, and cut taxes? Something has to give.
The proposed tax policies of Obama and Biden won't hold up to their agenda. Taxes will have to be increased across the board to offset the higher spending. The "$250,000 and above" benchmark will have to be adjusted to include more incomes, possibly dwindling down to as low as $50,000. Then it would be the vast majority of Americans who would pay higher taxes under Obama. How would we feel about wealth redistribution then?
Martin Niemöller once said, "When they came for me, there were none left to speak out." He was referring to the Nazi's ideology of selecting one group to persecute, and laid out the Nazi progression from Communists to Jews and finally to himself. The same logic should be employed when examining the class warfare of Obama and Biden: if we allow any to be exploited (wealthy or not), then we are allowing all to be exploited.
Peter Druckenmiller is a junior in new media communication. The opinions expressed in his columns do not necessarily represent the opinion of the Daily Barometer staff. Druckenmiller can be reached at forum@dailybarometer.com.
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Viewing Comments 1 - 5 of 6
Geoffery Parsons
posted 10/22/08 @ 2:17 AM PST
Oh hey look you have no idea what you're talking about how nice
morgamic
Mike
posted 10/22/08 @ 5:03 PM PST
You criticize Obama for having a plan but don't offer alternatives. The "things cost more" argument doesn't work when you consider that health care prices will lower quite a bit, consumer confidence would be restored, and there is still not a solid argument the net difference for the middle class would be negative. (Continued…)
fwenzel
Fred
posted 10/29/08 @ 9:00 AM PST
I wrote a letter to the editor about this article, and blogged about it as well: http://fredericiana.com/2008/10/29/tax-policies-and-inappropriate-nazi-comparisons/
Bill
posted 11/06/08 @ 4:13 PM PST
Ian, because the 40% claim is a MYTH. The top 10% pay lower taxes per net worth (this is the key here) than the rest of the 90%. Yes, they pay 40% in income tax, but because of corporate loopholes, tax breaks on capital gains, overseas investments, and tax loopholes on estates, they actually pay less (percentage wise) then everyone below them. (Continued…)
Anna
posted 11/12/08 @ 8:00 AM PST
It is refreshing to know that there are some people out there who realize it is not fair to tax the rich and give to the poor. This has never worked for our society. (Continued…)
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