9/22/20
The Democrats have once again resurrected the old stand-by Social Security scam. For those of you old enough to remember this has been going on since the mid 1980’s. The Republicans want to take away seniors Social Security. They want seniors to eat dog or cat food. They will reduce their monthly payments. As a senior on Social Security I find this sophistry particularly galling because of its’ transparency. Do conservatives not have parents and grandparents? Do conservative not use Social Security ourselves? Now, they are saying that the President is hollowing out Social Security so it will fail. The truth of this argument is that the Democrat plan to raise taxes will do greater harm to seniors than this ad campaign the left has on television. This is on its’ face fear mongering for votes. We have spent a great deal of money in the last six months and there is a fundamental difference on how to deal with the deficit. The Republicans want to grow our way out of this economic downturn and no matter what you think, capitalism works. If it didn’t why are so many people from around the world trying to come here? It’s the opportunity for a better life provided for by capitalism. The Democrats want to spend our way out of the downturn with more deficit spending on top of what we already have. The Democrats have said they will do away with the Trump tax cuts. That is a tax increase! No matter how many times Biden changes his position on taxes as he has on so many other issues that’s still a tax increase. Their proposed budget cannot be sustained with tax increases on only people making $400,000 and above. That is pure fantasy. So where is the money coming from? The question is which will be more harmful? The supposed gutting of Social Security untethered by fact or the stated tax increase? For seniors I know it will be the tax increase that dilutes our monthly income from Social Security, pensions, 401Ks, IRAs or any other pre-tax investments we may have. As taxes go up your income goes down this is a fact. These tax increases don’t just apply to seniors they apply to all of us. The money you’re putting away steadily decreases with every tax increase so think about it, it’s you’re future. You’d better start thinking about what the democrats are promising. It’s not going to hurt Nancy, AOC, or the rest of that bunch one bit! Nancy will still get her hair done on your dime and swear she was “set up!”
They speak reverently about Social Democracies of Scandinavia but never mention the tax rates there. They are exorbitant. In Denmark they pay 45% in taxes on an average income. In Sweden they pay 51.5% in taxes on an average income. In Sweden if you make $98,000 per year you will take home less than $30,000 per year. Although the calculations are different, the take home in Denmark is much the same. The average American makes $63,400 per year. So in the state of North Carolina for federal, state, social security, and med-care you pay 24.5%. Think about that. That is where the Democrats are taking you. All those “freebees” cost; they are not free. As Margret Thatcher, former Prime Minister of Great Britain, once famously said, “socialism is fine until you run out of other peoples’ money.” Once again because we don’t teach the basics let alone civics, history, or even basic economics we have citizens who don’t understand how these items are paid for. These countries have all the “free” items they want, and they pay for them handsomely. Which is perfectly alright. Are you ready to do the same? Let’s move to “corporate taxes” the Democrats have said they will return them to pre-Trump levels, that’s 35%. For you millennials, who do you think pays for these increases? We the consumers do. They are passed along in the price of the goods and services. The big bad corporations do not absorb these loses. The corporate tax rate in Denmark and Sweden are 24.5% and 22% respectively. Trump has lowered the corporate rate to 21% to make us competitive. But leave it to the Democrats to put us at a disadvantage again. Why do they insist that we “lead from (or is it with our) behinds”? Once again, the Democrats have no new ideas. They will return us to the tax and regulate economy of the past with no real growth. The pre-pandemic economy will be lost and we will hear slogans such as “jobs created and saved” with no empirical evidence to support them. At one time I thought Boston University was a good school but having found out that Alexandria Ocasio Cortez has a degree in economics from their I now have my doubts. She must have gone to the “Hugo Chavez School of Economics”. I didn’t know they had a campus in Boston. I shouldn’t be surprised in a cesspool of liberal ideology like Boston. That’s exactly where we’re headed if these socialists take over. Now that’s Troubling!
