Democrats have their own tried-and-true formula when it comes to spending and taxation. More spending for programs no one needs or cares about, and taxation on the rich to pay for said programs. It has been that way for decades now, and there is little to suggest that it will change anytime soon.
Taking the rich is limited in nature
One of the main problems that comes with taxing the rich to pay for everything is that there are only so many rich people to go around within the United States. As a result, Democrats will try to squeeze out every single dollar they can out of them regardless of the negative consequences of such a policy. Taxing the rich more and more will lead to less individuals that meet the threshold for Democrats, and they will in turn keep lowering the bar until there is no one who can be considered as rich in America anymore.
The rich will just find another way around
Taxing the rich into oblivion won’t work because they have the resources to find ways around them. Not only that, but unlike working class Americans they can simply up and move elsewhere with little to no ramifications. Instead of being able to generate tax revenue from wealthy individuals, that money will simply dry up as they move their places of residence elsewhere.
It creates a disincentive to be successful
Taxing the rich has the added negative consequence of providing a disincentive to those who are looking to be successful and wealthy in life. America is known for its individualism, of finding a way and making a way to success. Taxing the rich until they become essentially the middle class makes people second guess whether or not it is truly worth it to move up in life.
What incentive is there to try to make one million dollars per year when 70% of it will go away in taxes? It would make more sense to try to make much less instead knowing that most of it won’t go to the government to pay for programs no one needs. There should be incentives to help people become more successful in life, not obstacles that get in the way.
Wasting money is what Democrats are best at
The newest craze these days is climate change and how everything is going to fall apart in a matter of decades unless everyone radically changes the way they live their lives. While it makes sense to promote solar energy in places like Arizona, pouring billions into “carbon capture” technology when millions of Americans are suffering from high inflation is a terrible idea.
Let us not forget that some of the largest polluting nations in the world such as India and China do not share the same stance toward climate change and will continue polluting as much as they please. Until they are held in check how can the climate truly change for the better? This is a question everyone who believes in climate change should be asking themselves.
More focus is needed on actually fixing real problems
There are more important problems that need to be addressed in the United States not only now but in the coming years ahead, such as infrastructure and Social Security. Wasting billions of dollars on unnecessary and misguided programs only exacerbates the real problems that need to be addressed. Democrats know that these issues are more important, but they just don’t care. They would rather promote their own policies and narratives and watch hardworking Americans suffer as a result.
More fiscal responsibility is needed
While Democrats would like to continue spending as much as they can to push their own narratives, what is really needed is more fiscal responsibility. Why aren’t Democrats actually focusing on the current budget and how it can be used more efficiently instead of introducing new spending all of the time? Part of it can be traced to the fact that they know more spending will result in more taxation on the rich, and that by introducing more spending they can create more ways to tax the rich.
More spending now will create further problems down the road. For instance, as the economy continues to deteriorate revenues will more than likely fall, leading to discussions on whether or not the government will need to raise more revenues or reduce spending. Those who are beneficiaries of the spending will always be the loudest in opposing cuts, thus giving Democrats more reasons to tax the upper class.
Reduce taxes and reduce spending along with it
Most if not all Republicans are in favor of less taxes in general, as they feel the government not only does not handle the money properly, but that government should be limited in its powers. There is a belief in the free market economy, where the government gets out of the way and allows businesses to flourish throughout the country.
Reducing taxes and spending alongside of it leads to more towards this vision, as reducing taxes necessitates reducing spending to keep the federal budget in check. The amount of waste in the federal government remains significant and will continue to grow so long as Democrats are in power, and much of it can be cut off to help reduce taxes.
Cutting waste out of the federal government should be a priority
For instance, the Subcommittee on Federal Spending Oversight and Emergency Management recently found nearly $10 million was used by the Department of Veterans Affairs to buy solar panels that have not been used. In fact, no one knows exactly where these solar panels are to begin with. This is just a minor example within one government department costing American taxpayers millions of dollars.
Cutting waste out of the government should be a priority for Democrats in charge, but they could seemingly care less. They would rather continue ramping up spending and finding ways to tax the rich more instead. More Americans should wake up to this realization instead of blindly following Democrats.