Investor’s Business Daily reports that more and more of the federal tax burden is being borne by the highest earners. This trend accelerated under the control of conservative Republicans and George W. Bush, not just under Obama.
“This is a dangerous trend,’ the paper comments. ‘The increase in the number of people who pay no taxes mirrors the increase in those receiving benefits from the federal government. This creates a bias toward more spending and against keeping tax rates low, since that burden is increasingly being borne by those at the high end of the income scale. Unfortunately, these are the entrepreneurs, risk takers, and small businessmen who create most of the jobs.”
My question is this: How much are the entrepreneurs and risk takers — the wealth creators and job providers — willing to take? How much CAN they take? To paraphrase Ayn Rand, Atlas WILL shrug. I guarantee you it will happen. It happened during the Great Depression when business went on a subtle and silent strike, for the better part of a decade, in response to President Franklin D. Roosevelt’s aggressively anti-capitalist policies. Today, under Pelosi and Obama, government is grabbing for power that FDR himself never dreamed of attaining.
All of this power is aimed at impairing if not destroying those who are the most able, and who make the most money. The question isn’t whether Atlas will shrug. Atlas is already shrugging, as evidenced by the refusal of the hampered market economy to create jobs and make a comeback after nearly 3 years of recession.
The question is: Will the people who deserve the most blame finally get it? Will the socialists and fascists who dominate the Republican party and who completely control the Democratic party be the ones punished? The hour of reckoning may be at hand. The sooner it comes, the sooner the world can start over.