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Great! And after that I assume you’ll head back down to the floor to vote on Prosperity Creation Act, energy abundance, a sound dollar, and taxpayer justice for working families? Oh, wait, don’t tell me, No, no, no!#DefenderOfTheStatusQuo
— manic contrarian (@SBCTA) August 7, 2022
In a recent commentary, Simon Black points out that France’s King Louis XVI nearly bankrupted France in 1783 with his support of the 13 Colonies in their Revolutionary War against King George III. The royal treasure Louis XVI spent supporting America in our insurrection against the British Crown equaled five years of France’s annual revenues, or about $1 billion livres.
Fast forward about 240 years, and you have another situation where the head of a nation is bankrupting his nation, as Black points out, by supporting a war between two independent countries; this time, it’s President Biden shoveling more than $60 billion to Ukraine, even as he and his insufferable Democrats vote to spend $80 billion hiring 87,000 new IRS agents.
Everybody knows that at the top of the list of concerns of the American people, ahead of inflation, recession, and loss of freedoms resulting from the politician’s overreaction to a virus, is the lack of IRS agents in the country to harass us in our kitchens and small businesses.
Biden and his political comrades in Congress are spending $80 billion to hire an army of income tax stormtroopers, 87,000 to be exact, to help “close” what only politicians call the “tax gap.” For those unfamiliar with the term, the tax gap is the difference between the amount of taxes the government collects and the amount it thinks it should collect.
They just don’t learn, do they? Maybe Reagan put it better: Here they go. To impose more taxation confiscatory on Americans trying to survive, it is one of the worst things you can do for the economy.
These Democrats, these people, these bad people, clearly weren’t content shutting down the American economy, putting millions of individual taxpayers out of work, and then sending them an individual check for what was a trivial amount, but, when added up between all recipients, totaling trillions of dollars.
To increase Federal Treasury tax revenue, it is best to expand the U.S. Economy. This will be the most efficient, ethical, and compassionate way to do so. And you don’t accomplish this by auditing the American people. It’s possible by eliminating regulatory obstacles and other barriers to economic growth.
Lowering the cost to do business includes labor and capital as well as credit costs. This is how economic growth can be achieved. The government is doing the opposite.
Indeed, the laughably mistitled “Inflation Reduction Act,” with its massive spending on green and red tape initiatives and tax increases on the most productive and profitable corporations in the world, does the opposite of all of the things Reagan, Clinton, and even Trump did to get the U.S. economy moving again.
All of us know the actions taken by Reagan and JFK to end inflation and make the U.S. Dollar as valuable as Gold. They also lowered the marginal income tax rates and won the Cold War effectively without firing a single shot.
Clinton was also a strong moneyman, reforming welfare and reducing the capital gains tax. This resulted in economic growth that has not been seen since JFK or Reagan. There’s no substitute for intelligence and wisdom.
The Presidents Kennedy and Clinton were smart about creating economic prosperity. King Louis XVI’s wise choice to support the new world over an old, tired and corrupt world was wise.
Joe Biden has neither intelligence nor wisdom. The American people will soon regret the decision to hire Joe Biden. He helped destroy America’s greatest nation and the most productive country on Earth. Alas.
Joe Armendariz is the Director of Government Relations & Public Affairs for Armendariz Partners, LLC. Former Executive Director, Santa Barbara County Taxpayers Association and Santa Barbara Technology and Industry Association Association. He also serves as the Chairman of California Center for Public Policy. He is a person who views his views and does not necessarily reflect the opinions of any group affiliations. You can reach him at 805.990-2494
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