Leave it to an U.S. Congressman from
my resident state of Minnesota, Democratic Representative Keith Ellison, to so
well articulate the absurd economic thinking of our governmental officials when
he said: “The bottom line is we’re not broke, there’s plenty of money; it’s
just the government doesn’t have it.”
Tell me that isn’t a clear portrayal
of the principle of plunder: “We” [the
government] are not broke because all the government needs to do is to take the
money from ‘we’ [the people].
Rep. Ellison was
advocating for his Inclusive Prosperity Act
(HR 6411) – a ‘Robin Hood’ tax on financial trading. He explained, “The government has a right;
the government and the people of the United States have a right to run the
programs of the United States – health, welfare, housing – all these things.”
The looting mechanism
proposed in the Inclusive Prosperity Act
is a 0.5% tax on the trading of stocks (50 cents on every $100
of trades), and lesser rates on trading in bonds, derivatives and currencies. It marks the return of a sales tax on
financial transactions in place from 1914 to 1966; and targets the high-risk,
high-speed trading of
the markets. Ellison claims his
new tax would rake in $300 billion a year. [He’s assuming that there would be no
reduction in sales/purchases of stocks, bonds, or derivatives.] So let’s imagine that he is right and we get
$300 billion a year coming into the government. What does he want to do with it? He says it will stabilize “the deficit and allowing us to invest
in the things that matter—education, roads and bridges, and health care for our
seniors and veterans.” Sounds worthy of
support wouldn’t you say? But
don’t miss the point: Ellison is questing for more government spending. The best you can say about him is that he
doesn’t admit that he wants to increase the national deficit.
Speaking of the deficit – What was
that deficit? For 2012 the national deficit
was over a Trillion dollars for the fourth year in a row. So the man who is telling us that “there’s plenty
of money” … even if we assume he really can get all the revenue he claims he
can get from this Act year-after-year
… is pure folly. $300 billion wouldn’t
even cover a third of the national deficit if we didn’t spend it on anything
else.
Do the math, people! With governmental officials such as Ellison
making such wildly optimistic claims, we are still just a larger version of
Detroit heading toward inevitable collapse and bankruptcy. Ellison would loot more people to simply make
our financial situation even less safe.
As the
U.S.A. continues to spiral into debt, it is better to reverse it by cutting
taxes and governmental expenditures.
Money retained by private citizens to use in the free market economy is
always better in terms of economic growth and in terms of increasing individual
liberty. Your money in the hands of the
government is demonstratively wasteful and is used to increase
government-control over everyone’s life.
Look to and expect your elected officials to stimulate economic development
without suppressing free enterprise!
Rev. Dr. Kenneth L. Beale, Jr.
Chaplain (Colonel-Ret), U.S. Army
Pastor, Ft. Snelling Memorial Chapel
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