American Elephants


There’s An Important Lesson Here for Us All. by The Elephant's Child

A couple of articles I read today demonstrated an unusual connection. The first was a post at PJ Media titled “The Remarkable Donald Trump” by Michael Busler.

Years from now, history will note a major event that occurred in 2016. An event that significantly altered the course of the country and the world. At the time, the U.S. was in, what turned out to be, the last year of a 10-year economic slump. It was, in fact, the only 10-year period in history where the economy did not achieve 3% annual growth in any year.

From 2006 to 2016 economic growth averaged about 2%. That subpar growth rate led to fewer opportunities for Americans. That led to poor employment prospects and stagnant wages. There were many people who had absolutely no opportunity. That led to resentment. …

Many Americans began to place security above freedom. They wanted the government to pay for their healthcare, their higher education, their basic income, and even their housing. Of course, the government gets the money by taxing income earners.

If implemented, those spend-and-tax government actions would permanently slow economic growth. The reason is very simple. All of these income transfer programs take income away from people who earned it and give it to people who, for whatever reason, have not earned it. That means income earners have less incentive to earn and income receivers have no incentive to earn.

The second post was from The Daily Caller, by Amber Athley, titled: “Biden’s First Move As President? Kill the Trump Tax Cuts.”

Former Vice President Joe Biden said Monday that his first order of business if he is elected president is to repeal the Tax Cuts and Jobs Act.

Biden made the remark in Washington, D.C. during the Poor People’s Campaign Presidential Forum at Trinity Washington University. The event features low-income Americans asking questions of ten Democratic presidential candidates, including Biden, Vermont Sen. Bernie Sanders, and Massachusetts Sen. Elizabeth Warren.

After one attendee asked Biden how he would combat the “lie of scarcity” regarding resources, Biden insisted there is “plenty of money” in the U.S. and vowed to obtain some of it through repealing tax cuts.

“Number one, we have the greatest income inequity in the history of the United States of America since 1902, and the fact of the matter is, there is plenty, plenty of money to go around,” Biden replied. “The first thing I would do as president is eliminate the president’s tax cut.”

That pretty much sums the whole thing up, doesn’t it?




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