It’s the Long Conversation
We’ve Long Needed to Have
President Donald Trump and the Republican Congress have both put forward tax reform plans that contain lots and lots of really great ideas. They both simplify the code, eliminate some taxes, reduce the rates of others – and in general are geared to allow for vigor to return to our long vigor-less economy.
The fundamental element behind vigor in our economy – is coin. The crucial component of capitalism – is capital. And the ugly truth for Leftists is – only people that earn money have money. And the people that earn more money – have more money. The rich – have even more than that.
So you need all of these people – most especially the rich – to privately dispose of their capital. Not have the government take it from them. So as to fuel capitalism – and allow the reinvigoration to begin.
Capitalism works – in large part because of Adam Smith’s “Invisible Hand.” Capitalism coin never stays put – it’s always on the go. The Invisible Hand moves that money – all over the place.
To wit: A rich person buying a yacht – does more for a poor person than a thousand government programs. Because – who sells the yachts to rich people? Poorer people. Who drives the yachts to the lots to be sold? More, even poorer people. And who builds the yachts to be driven to the lots to be sold to rich people? Lots and lots of additional poor people. And then there are the crews to sail the yachts, the repair crews to fix them, the harbor crews to harbor them,….
How do we know this? Because in 1991 the Feds imposed a “luxury tax” on expensive cars, furs, jewelry…and boats. Democrat Senators Ted Kennedy (Massachusetts) and George Mitchell (Maine) in particular crowed about the rich finally paying their fair share. Except: More