From left, Democratic presidential candidates Sen. Amy Klobuchar, D-Minn., Sen. Cory Booker, D-N.J., South Bend Mayor Pete Buttigieg, Sen. Bernie Sanders, I-Vt., former Vice President Joe Biden, Sen. Elizabeth Warren, D-Mass., Sen. Kamala Harris, D-Calif., entrepreneur Andrew Yang, former Texas Rep. Beto O’Rourke and former Housing Secretary Julian Castro are introduced Thursday, Sept. 12, 2019, before a Democratic presidential primary debate hosted by ABC at Texas Southern University in Houston. (AP Photo/David J. Phillip)
In past debates, the Dems have battled the reality of a strong economy; in the latest, they pledge to cripple it.
There was a notable alteration in last night’s Democratic debate for the presidency. In past versions, the hopefuls have tried to sell us on the concept that the country is doing poorly on the economic front. Only two problems with that stratagem — data saying otherwise, and polls showing most Americans are satisfied with their economic condition.
So last night, the dozen hopefuls on stage mostly resorted to a tested talking point within their party, that being class warfare. With a laundry list of giveaway programs, the reality facing these overreaching proposals is funding them. The natural solution, of course, is confiscation of wealth to do so, therefore the night was filled with the demonization of the unfairly secure, wealthy, and vile corporations.
That the rich would be targeted so is of little surprise, but what was actually vexing was the framing of things. Those vile wealthy need to have their comeuppance so their wealth needs to be confiscated for the benefit of the working class, who are said to be struggling. The ‘’Let’s go get ‘em’’ energy was palpable, but less so was the applying of common sense to their proposals — the so-called solutions.
It kicked off laughably enough with Bernie Sanders declaring that the impeachment of President Trump is valid due to him enriching himself while in office. This from Sanders, the man who has had to alter his platform talking points to demonizing ‘’billionaires’’ now, because he is himself a millionaire, in possession of three homes, while never having a private-sector job. Of course, Bernie is not ever targeting himself when going after the rich.
One of the ways they intend to glean more money into the public coffers is to levy heavier taxes on the wealthy, and not just the economic practices of the rich. They want to tax them merely for being rich. Elizabeth Warren and others favor taxation on those sitting on wealth of a certain strata. They want to tax inactivity, in other words. That is blatant wealth confiscation, no other way to describe it.
There was talk about the number of jobs being lost to automation, and there was not a single dose of self-awareness that Democrat policies are spearheading the movement. In laughable fashion, Cory Booker brought up the need to strengthen unions, saying that unions should be supported and their reach broadened all the way down to fast-food workers. This means your solution for job loss is to impose one of the factors that has spurred the use of automated kiosks, Mr. Booker.
Other proposals were equally obtuse, in that they talk of problems and then promote ideas that would exacerbate those very problems. As the Dems always enjoy demonizing big business in favor of the worker, they always forget that it is the wealthy and the corporations who hire the workers. Numerous candidates proposed getting companies to ‘‘pay their fair share’’, following the canard that companies somehow avoid paying taxes outright. Who among these vaunted economic thinkers believes that if you impose higher costs on corporations that will lead to them opening up their payroll expenses and hiring more people?
Joe Biden followed suit, desperate not to be left out of the finger-wagging Olympics. His brilliant strategy was to suggest doubling the capital gains tax. This is the primary vehicle for business investment and expansion, so chasing away investors from companies means that it will stagnate their growth. In other words, it is a jobs killer.
The amazing aspect in all of these wealth confiscation schemes is that these Democrats fall into the same trap they always do — resting on the belief that wealth and money are static. Look at Andrew Cuomo currently bemoaning all of the wealthy who have fled his state for less confiscatory areas. Look at California that is witness to a steady migration of those who can no longer tolerate the always swelling tax burdens.
The same result will occur when you draw devil horns on the rich in this country. The wealthy are just as likely to seek out offshore tax havens or even move to less aggressively needy nations. The corporations that are forced into higher expenditures will create alternative solutions. Look at how restaurant jobs have become imperiled by the forced wages imposed by Democrat laws. Note the recent news from employees of Target stores, who were granted the $ 15-hour wage increase, only to see their working hours cut way back.
This was done so that the company would compensate that new payroll expense by saving that money in paying out fewer full-time benefits. While the Democrats are crowing about fixing supposed problems they never anticipate the result of their policies. The actual economic solutions are undertaken by those who are targeted by these new policies. The results are never as successful as their intentions.