“No Man’s life liberty or property is safe while the legislature is in session”.

- attributed to NY State Judge Gideon Tucker

Friday, January 8, 2010

Steny Hoyer Soaks The Rich

CNBC employs a nearly-communist political reporter named John Hargrove. Hargrove also writes for the NY Times, which pretty much tells you all you need to know.

When Hargrove interviews Democrats, he generally just nods and withholds followup questions, as if he's receiving Truth from the Mount.

Yesterday, I saw a clip of some of Steny Hoyer's remarks in an interview with Hargrove. Hoyer is the House Democratic Majority Leader.

Asked by Hargrove if Democrats were out to "soak the rich," Hoyer denied it.

Then promptly set about confirming it.

He solemnly intoned that all Democrats want is for the "rich to pay their fair share."

Code words for "soaking the rich."

And, it's the Progressive in our progressive income tax rates. Rather than everyone pay an equal share of her/his earnings, the Democrats feel that those who make more are not entitled to what they earned.

Because they earned more, may amass more wealth from their own efforts, that wealth actually belongs to the government and the rest of society.

Let's face it. Once you depart from a flat tax, government is engaged in theft of property and an open-ended grab on anyone's wealth anytime they feel they need it. If one progressive rate is valid, why not double it? Or triple it?

Once government, or Steny, decides that one higher rate is a "fair share," who is to say another liberal won't feel that said rate is unfairly low?

This is just classic Democratic populism. They deny engaging in class warfare, then immediately turn around and declare it.

Hoyer ended, of course, by claiming that all the Democrats were really doing is reversing unfair "tax cuts for the rich" from the Bush years.

From Steny's words, you can tell he has zero grasp of macroeconomics. Or any economics, for that matter.

Steny, when was the last time the US economy prospered under marginal income tax rates which had been increased on those earning more money?


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