A group of far-left lawmakers has introduced yet another bill to soak the rich.
Rep. Barbara Lee claims the legislation is designed to “tax extreme wealth, reduce inequality, and combat the threat to democracy posed by aristocracy.” But it would more accurately be described as an economic devastation bill. Indeed, it should alarm anyone who wants to start a business, build up wealth for retirement, leave an inheritance for their children, or just see the economy grow for everyone.
The bill’s authors make the cavalier assumption that wealth is simply a pile of gold that the wealthy sit on — that it’s just sitting around, waiting to be taken and redistributed. That’s nowhere near the case. Almost all the wealth of the people targeted by this bill is tied up in businesses that produce goods and services, provide jobs, and drive the innovation that raises our standard of living.
They have it exactly backward. Building wealth is something to be lauded and celebrated, and the government should let each of us get as wealthy as possible. Everyone’s lives have improved, especially those at lower income levels, thanks to innovators and pioneers whose passion for doing things smarter, better, faster, and cheaper resulted in them creating things no one thought possible.
Michelson then used his wealth to found a multitude of charitable organizations that direct funds to promising medical research, fighting neglected diseases, making college more affordable, and improving animal welfare.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
House Republicans grant Democrats' request in Hunter Biden probeDemocrats have spent weeks calling for their Republican colleagues to publicly release transcripts of interviews conducted as part of the investigation.
Weiterlesen »
Seven prominent Democrats turn on Biden over soft border policies: ‘federal crisis of inaction’A growing number of Democrats have started to turn on President Joe Biden over his policies on the border, as chaos in American cities over migrants reaches critical mass.
Weiterlesen »
Abortion Isn't the Silver Bullet Democrats Think It IsWhen the conversation focuses on passing restrictions on abortion like the need to obtain parental consent for minors, pro-lifers will win.
Weiterlesen »
House Dems urge Merrick Garland to investigate Clarence Thomas over giftsSeveral Democrats sent a letter to Attorney General Merrick Garland urging him to investigate the Supreme Court justice over lavish — and undisclosed — gifts.
Weiterlesen »
Here are the states where No Labels will appear on 2024 ballot as third partyNo Labels, an organization uniting centrist Republicans and Democrats alike, has gained access to the North Carolina ballot in 2024 as a third party.
Weiterlesen »