It just doesn’t work! It sounds good in theory; Take from more fortunate and give to the less fortunate. And there is the 1st problem. Most wealthy people in this country are first generation millionaires. That means they worked for everything they have, it wasn’t given to them, they didn’t inherit it, they made it happen. They are not fortunate!
The second problem is; tax and spend actually hurts people on the lower rungs of the ladder. Let’s say someone works hard, builds a business, hires employees, and earns a lot of money every year for his effort. Then one day the government decides he needs to pay more in taxes to help the less fortunate. Do you really think that this individual is going to give up his hard earned income? No, he is not, he is going to compensate for the difference by cutting costs and in a lot of cases the fastest way to cut costs is to let the lowest rung of the ladder go and make the other rungs absorb the extra weight.
It’s a viscous circle because now taxes will rise again to help those extra people in the unemployment line and soon the next rung will be in that line. However, if we let this entrepreneur keep more of his hard earned money he could expand his business and actually hire more employees.
It wasn't a "Tax and Spend Government" that made this country great, it was the "Entrepreneur"!
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