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As we now see, a number of the Democrat candidates, and especially Elizabeth Warren and Bernie Sanders, are promoting a wealth tax, which is in harmony with communist Karl Marx’s thinking: From Each According to His Ability, to Each According to His Needs.
Of course, these Democrats suggest that such a tax is necessary to make the “wealthy” pay their fair share of taxes ___ implying the wealthy do not now contribute to the financial needs of our federal government, when in fact nothing could be further from the truth. The top 1% of taxpayers in the United States paid as much in federal income taxes as the bottom 95%!
Aside from these Democrats’ love affair with relying on the great class-warfare lie used to promote a “wealth tax”, thinking people realize such a tax is in essence a tax upon financial success produced from investment, and is thus, in turn, a tax upon the engine which fuels a thriving and prosperous economy. But I will admit a “wealth tax” does sound great and appeals to the less educated and average income earning citizen, which is, in general, the largest segment of our nation’s population, and why these Democrat snakes promote a wealth tax which is designed to fuel a class warfare fight during the coming election.
If there ever was a need for tax reform, that reform would surely be ending the unconstitutional “Temporary Victory Tax” of 1943, which began federal taxing of the property earned by working class people, i.e., ending the federal tax upon a working person’s earned wage.
In its place we ought to return to our Constitution’s original tax plan and have Congress, under normal circumstances, rely on indirect taxes ___ imposts, duties and excise taxes, basically taxing articles of consumption ___ and especially taxing articles of luxury so the rich may pay their fair share when enjoying the luxuries of life which the poorer folks can only imagine enjoying.
In this respect Hamilton stresses in Federalist No 21, regarding taxes on articles of consumption:
“There is no method of steering clear of this inconvenience, but by authorizing the national government to raise its own revenues in its own way. Imposts, excises, and, in general, all duties upon articles of consumption, may be compared to a fluid, which will, in time, find its level with the means of paying them. The amount to be contributed by each citizen will in a degree be at his own option, and can be regulated by an attention to his resources. The rich may be extravagant, the poor can be frugal; and private oppression may always be avoided by a judicious selection of objects proper for such impositions. If inequalities should arise in some States from duties on particular objects, these will, in all probability, be counter balanced by proportional inequalities in other States, from the duties on other objects. In the course of time and things, an equilibrium, as far as it is attainable in so complicated a subject, will be established everywhere. Or, if inequalities should still exist, they would neither be so great in their degree, so uniform in their operation, nor so odious in their appearance, as those which would necessarily spring from quotas, upon any scale that can possibly be devised.
It is a signal advantage of taxes on articles of consumption that they contain in their own nature a security against excess. They prescribe their own limit; which cannot be exceeded without defeating the end proposed, that is, an extension of the revenue. When applied to this object, the saying is as just as it is witty, that, "in political arithmetic, two and two do not always make four .’’ If duties are too high, they lessen the consumption; the collection is eluded; and the product to the treasury is not so great as when they are confined within proper and moderate bounds. This forms a complete barrier against any material oppression of the citizens by taxes of this class, and is itself a natural limitation of the power of imposing them.”
Of course, ending the collection of the unconstitutional “Temporary Victory Tax” of 1943, and limiting federal taxes to indirect taxes, imposts, duties, and excise taxes, under normal conditions, which in essence amounts to taxing consumption, such a reform would remove the communist/socialist heel from the necks of the American People, and likewise subdue its notoriously evil lust to control almost every aspect of the people’s private lives using direct taxation.
The bottom line is, if Elizabeth Warren and Bernie Sanders’ claim to be advocates for America’s hard working wage earners is true, why are they not advocating an end to the unconstitutional “Temporary Victory Tax” of 1943, which began federal confiscation of the property which working people have earned by the sweat of their labor? Why are they promoting an additional federal tax, instead of advocating an end to a notoriously evil tax, and replacing it with a truly fair system of taxation?
JWK
“……with all these blessings, what more is necessary to make us a happy and a prosperous people? Still one thing more, fellow-citizens—a wise and frugal Government, which shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement and shall not take from the mouth of labor the bread it has earned. This is the sum of good government, and this is necessary to close the circle of our felicities“. Thomas Jefferson, First Inaugural Address
