Income Redistribution for Dummies
What is “Income Redistribution”, and why is it such a bad thing? Well, it is quite simply the Government using it’s coercive powers to take from you, that which you created and earned, and giving it to whomever they feel needs your money more than you do.
If you want to know why it is so bad, listen to the words of President Ronald Reagan, who in his State of the Union address, Feb. 4, 1986, said, “The most powerful force we can enlist against the Federal deficit is an ever-expanding American economy, unfettered and free.” He understood that every penny the government spent (especially deficit spending) was essentially like taking 5 cents out of the U.S. economy that could have been used to grow the economy. It was “eating your seed corn”.
President Ronald Reagan was greatly influenced by the economic and governing philosophy of another great 20th century President, Calvin Coolidge, who said, “Collecting more taxes than is absolutely necessary is legalized robbery.” Then, Vice-President Coolidge, ascended to the Presidency in 1923, after the sudden-death of President Harding. He easily won election in his own right in 1924, serving until 1929 (he chose not to run again), and has the distinction of being the only President to reduce government spending, cut taxes, and leave the budget deficit smaller than he found it. In effect, he helped Americans to keep more of the money they earned. We got to keep our seed corn.
This idea of Government eating the seed corn of the U.S. economy is nothing new. A hero of mine, Booker T. Washington once said, “My experience is that people who call themselves ‘The Intellectuals’ understand theories, but they do not understand things.” Mr. Washington understood that schemes like “Income Redistribution” can only come out of the putrid mind of a very ignorant, or a very wicked Leftist/Regressive/Socialist minded person.
Check out our friend, Andrew Klavan, of the The Revolting Truth, as he does a masterful job of explaining “Income Redistribution…for Dummies”.