What if Atlas shrugged?
“We have a society in which there are an awful lot of people who have no idea that Stalin, Hitler, Mao Tse Tung all came to power promising the same kinds of things that Miss Alexandria Ocasio-Cortez is promising.
“That led to mass murder, led to dictatorship, and led to genocide.
“These promises are old promises, and they invariably lead to bad things. The promise of saying to the people do what you can within the law to make your life better and your family’s life better that system works extremely well. Capitalism is a system that allows people to make something of themselves instead of oppressing other people.” – economist Ben Stein
Recent trends of new Democrats towards establishing socialism in the USA have been unsettling and depressing to most patriots and economists ‘in the know.’ The lack of education and intelligence behind those who think socialism is ‘awesome’ is just staggering. Unable to defend their irrational claims beyond ‘we won’t know until we try’, they often resort to their fallback tactics of changing the subject, or insulting the person questioning them. To make claims of new ideas being ‘scary’ or saying that a person is unqualified to ask questions because they couldn’t understand the answer is the height of idiocy and indicative of a delusional view of reality.
There is nothing new or awesome about socialism. The blueprint for totalitarian regimes which inspired some of the cruelest despots in history was first co-written by Karl Marx and his lifelong friend Friedrich Engels in 1848 when they published The Communist Manifesto. No civilized nation has ever thrived under socialism. Karl Marx spent his entire life living off the charity of others, earning what little income of his own as a writer. His radical philosophy often resulted in his being deported from one country to another, and he died in poverty as a stateless person in 1883. Around ten of his friends in London buried his body in Highgate Cemetary. In 2018, the city of Rheinland-Palatinate (AKA Trier) Germany sold VALUELESS ZERO EURO CURRENCY to commemorate the 200th anniversary of his birth. Worthless currency to commemorate a destitute person with a worthless ideology is a hilarious attempt to cash in on souvenir-hungry collectors.
Since getting elected in November 2018, Alexandria Ocasio-Cortez has been pressing for a delusional government energy program which she calls ‘The Green New Deal.’ Two of the key points of this fools’ errand would be massive government spending which would more than DOUBLE, TRIPLE, and possibly even QUADRUPLE the national debt, and increasing taxes on the rich to 70% or more. In an interview with liberal newscaster Anderson Cooper the rookie congresswoman was grilled about her unrealistic ‘Green New Deal’.
Anderson Cooper: How are you going to pay for all of this?
Rep. Alexandria Ocasio-Cortez: No one asks how we’re gonna pay for this Space Force. No one asked how we paid for a $2 trillion tax cut. We only ask how we pay for it on issues of housing, healthcare and education. How do we pay for it? With the same exact mechanisms that we pay for military increases for this Space Force. For all of these— ambitious policies.
Anderson Cooper: There are Democrats, obviously, who are worried about your affect on the party. Democratic Senator Chris Coons, said about left-leaning Democrats, “If the next two years is just a race to offer increasingly unrealistic proposals, it’ll be difficult for us to make a credible case we should be allowed to govern again.”
Rep. Alexandria Ocasio-Cortez: What makes it unrealistic?
Anderson Cooper: How to pay for it.
In that same interview from the Jan 6th 2019 episode of the news show Sixty Minutes, the former waitress turned rookie congresswoman went on to claim the rich didn’t pay their fair share of taxes, and that President Donald J. Trump was a racist. Ironically, many high-ranking Democrats think Alexandria Ocasio-Cortez is a fruitcake.
The so-called Green New Deal may tally between $51 trillion and $93 trillion over 10-years, concludes the center-right policy American Action Forum, which is run by Douglas Holtz-Eakin, who directed the non-partisan CBO from from 2003 to 2005.
Here’s the reality, the majority of all taxes collected in the USA are ALREADY, paid for by the rich, and the county CAN’T AFFORD any NEW spending of ANY kind because the country is BANKRUPT! Currently, the national debt stands at over 22 Trillion dollars. The total amount of all taxes collected doesn’t even cover the existing annual federal budget, let alone the interest we pay on the amount we owe on the national debt. It is IMPOSSIBLE to spend your way into prosperity as you dig deeper and deeper into a bottomless pit of debt. Increasing the tax burden on the rich is like pouring gasoline to extinguish a wildfire.
If you examine the historical prices of the Dow Jones Industrial Average from its inception, the value of Dow was almost flat during decades of excessive taxation of the wealthiest Americans. In 1913 the MOST the richest Americans paid was 7%. After Democrat President Woodrow Wilson encouraged Congress to pass the Revenue Act of 1916 the top tax bracket jumped to 67%, then 77% and by 1944 peaked at 94%. It never dropped below 70% until President Ronald Reagan pushed the Economic Recovery Tax Act of 1981 through Congress and slashed the top rate down to 50%. The Eighties was a time of great national prosperity and innovation. When you free up the financial resources of the mega-wealthy, they tend to reinvest those resources back into the economy creating new jobs, which in turn raise addition tax revenues. If you punish the wealthy, they simply leave for greener pastures, opening factories and offices in foreign countries and creating the new jobs overseas. One recent example of this was when Jeff Bezos snapped his fingers and killed a deal which would have created 26,000 new jobs because of the constant backlash from Alexandria Ocasio-Cortez who objected to promised tax breaks for Amazon.
The Richest Men In the World
- #1 Jeff Bezos $137 billion USA
- #2 Bill Gates. $89.5 billion USA
- #3 Warren Buffett. $78.7 billion USA
- #4 Bernard Arnault. $66.1 billion FRANCE
- #5 Amancio Ortega. $57.7 billion SPAIN
- #6 Carlos Slim. $56 billion MEXICO
- #7 Mark Zuckerberg. $52.3 billion USA
- #8 Larry Page. $50.5 billion USA
There are 2,208 billionaires dispersed in over 72 countries worldwide. This elite group is worth $9.1 trillion. Their average net worth is a record $4.1 billion. The combined net worth of JUST the EIGHT RICHEST MEN is equal to the combined net worth of 50% of the population of the planet. Americans lead the way with a record 585 billionaires, followed by mainland China with 373. About one quarter of all billionaires are American citizens. Five of the 8 top richest billionaires are American citizens, and the first billionaire in world was also an American citizen, John D. Rockefeller . Again the combined total net worth of ALL billionaires worldwide is $9.1 trillion. Even though only a quarter of all billionaires are Americans, let’s ASSUME for this example that these lucky citizens account for half of the wealth of all billionaires or $4.55 trillion. Annual Federal spending is currently about $4.2 trillion. If we seized the entire assets of every single billionaire in the country, and left all 585 of these people standing naked, homeless, and hungry out in the street, we might be able to pay for THIS year’s federal budget. And NEXT year, when we have ZERO billionaires living in the US, where are we going the get the funds to cover next year’s $4.2 trillion budget? If you think those 585 naked, hungry, homeless billionaires are going to suddenly become mega-rich again, I suggest then that you try standing naked outside in a big city and see how fast you gain wealth. As always, I wish you success and happiness.