Taxing “the rich” is a Leftist talking point.
For decades, Leftists have blasted what they call “Trickle Down Economics”. That is their definition of an economy that allows businesses to make a profit. A reasonable person understands that businesses MUST make a profit or they simply go away; along with them go jobs and family incomes. When a business closes it has a far reaching negative economic impact. A profitable business not only provides income for its employees, it also generates income for other businesses that supply products and services. Those businesses also have employees who take home a paycheck. That is what Leftist call “Trickle Down Economics”. The accurate description is CAPITALISM, fueled by entrepreneurs who start businesses with the expectation of profit.
Leftist don’t like that system.
Tax the ‘other guy” is a long standing Leftist campaign battle cry. Their assertion is that those “bad guys” who are making a profit from their businesses must be forced to pay their “fair share”. Leftists believe that by increasing taxes on businesses, everything will magically “be fair” for everyone. Actually, they might not even believe it, but it makes for a great vote-getting campaign slogan.
The result of tax increases on business really just adds another burden to already taxes wage earners. When business taxes increase, prices go up. The increase in taxes is simply passed on to the public through higher prices. It ends up being a tax increase on the very people Leftists claim they are “protecting”.
Leftists LOVE trickle down taxes. They just don’t like “trickle down” income.
*** Gordon Howie *** is a former SD State Senator, an ordained minister, an author and CEO of Life and Liberty Media
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