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Death By Taxes

by Dr. Williams 2 months ago in politics
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Congressional Folly

In a world that is constantly changing there still remains like Ben Franklin once said Death and Taxes. When our Congress is on the verge of passing with this latest Inflation reduction and climate change bill is without a doubt an exercise in shortsightedness in terms of having anything to do with reducing inflation that our own congress and present Administration have caused in the first place.

This bill if passed as it is now will impact every aspect of our economy. The collateral damage will devastate practically every American financially and not to mention will have virtually no real effect on curbing global warming. It seems that the political agenda today is not about fostering authentic economic growth and prosperity for all Americans. Instead, the power base in Washington is oblivious to the damages caused by the economic and domestic policies from the past 45 years.

When there are ways to ease the financial struggles millions of Americans our self-serving bureaucrats always find the means to skirt around the issues that would offset much of the economic imbalances of today's economy. They continue to use the reverse Robin Hood philosophy in finding funds to programs they themselves have cut. And for that matter every other piece of legislation they pass.

Congress has always put the cart before the horse in practically everything they seem to do. When they propose taxes on businesses, they forget that business will respond in negative ways that derail economic growth. Business will either cut jobs, payrolls and even relocate to where the climate is much more suited to increase their profit margin. There are many factors that have to be addressed before any imposed tax is incurred on any business whether they are a mom-and-pop store or a major conglomerate.

We have to realize that taxes are necessary to support the public services that contribute to the overall welfare of society. But like everything else that congress has done lately they have acted with blinders on without realizing the real consequences that would befall the American citizen. When Congress and President Clinton signed the NAFTA treaty in 1993, they said it would foster real economic growth and create thousands of well-paying jobs. Little did the American public realize that the exact opposite of what they said that treaty would do occurred. As a result, thousands of jobs were lost and our whole economy has never fully recovered. And when China joined the World Trade Organization the United States continued to lose ground on real economic growth.

Our trade agreements have only benefitted major businesses and the power elite not the local entrepreneur's. So, when our congress imposes taxes on business whether they are the large conglomerate or the local mom and pop store without focusing on our trade policies only heightens the anxiety millions of Americans face. When our government continues to misappropriate tax revenue their loyalties are not for the general welfare of the American public but targeted appropriations to specific agencies that benefit government itself. This has been ongoing for decades.

The American public continues to lose out because tax revenue is only directed to support a predetermined agenda. We already generate tax revenue that is more than sufficient to meet the obligations of the public sectors. The problem is that governmental priorities are noncompliant to the general public's welfare. And this Inflation Reduction Bill whatever taxes are collected will still be misappropriated to agencies that will not generate real economic growth and prosperity for all Americans.

What needs to be done is to actually realize that free trade such as NAFTA and the World Trade Organization have all created an imbalance in societies. We need equal trade agreements and incentives for businesses to invest in the US and not seek a safe haven in other more favorable countries. It is not just the tax rate that major business are incurring that motivates companies to be inclined to relocate outside the US but our demoralized educational system and our immigration policies all form the past 50 years have made the workforce in the United States not able to compete with other nations.

We need to set priorities that foster authentic economic growth, bring balance back into our society, restore educational standards to meet todays and tomorrow's employment opportunities and restructure our trade agreements. And that starts with implementation of National Economic Reform's Ten Articles of Unification. If any new tax in imposed a flat tax of 10% across the board would be a way to create revenue to accomplish these goals and other reforms that are urgently needed to keep our economy growing. To combat climate change let the technologies of science that are readily available be implemented.

If we allow the government to pass legislation based on their presumption that what they propose will benefit the American public like they did when President Clinton signed NAFYA only to find out latter that legislation proved disastrous for the American economy will further erode the peoples trust in our democratic process. We have to hold government officials accountable. Remember they work for the people and their welfare.

politics

About the author

Dr. Williams

A PhD in Economics. Author of National Economic Reform's Ten Articles of Confederation.

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