Americans constantly hear from Democrats that we need to “make the rich pay their fair share.” Yet it has been exhaustively documented that the rich already pay more than their fair share of taxes. The argument we will make instead is—with the help of Donald Trump, and the CEO of Blackhawk Partners, Ziad K. Abdelnour—why we need to help and encourage the rich in America, rather than demonize them!
The Donald, in one of his better interviews we’ve seen, dismembers Obama apologist George Stephanopoulos, like a ravenous lion devouring an antelope when asked about the Obama administration’s rhetoric regarding “the rich.” Mr. Trump describes what would happen if Obama and Senate Democrats tried to balance the budget by overtaxing the rich:
GEORGE STEPHANOPOULOS: As part of a deficit reduction package, would you be willing the pay, assume for a second you pay Warren Buffet’s rate, 17 percent. Would you be willing to pay 25 percent instead of 17 percent—
DONALD TRUMP: See, I would be willing to George, but a lot of people wouldn’t be. A lot of people would leave the country. I’m talking about big people, job-producing people….A lot of people will say, “No thank you, I’m going to Switzerland. I’m going to Germany. I’m going to here, I’m going to there.” There are a lot of places you can go to. And these are business machines. I know them. They went to Harvard. They went to Wharton. They went to the great schools. They’re total business machines….And they’re going to say, “Thank you very much, George. I appreciate you letting us know, we’re moving to Switzerland.”
And then you know how much you get in “revenue?” Nothing. Nada. Zip, Zilch.
How much clearer could it be? People and businesses do not have to stay in California or the U.S. They are, for now, free to make choices when it comes to their business, and how much they are willing to pay. The United States has one of the highest business tax rates in the world.
The CEO of Blackhawk Partners, Ziad K. Abdelnour, has a very good article about how wealth is created, and the people who create it. It is a great explanation for those who’ve read about “the rich” but do not actually know any of them personally. On the difference between socialists and capitalists he says this:
Socialist regimes try to guarantee the value of things rather than the ownership of them. Thus socialism tends to destroy the value, which depends on dedicated ownership. In the United States, on the other hand, the government normally guarantees only the right to property, not the worth of it. The belief that wealth consists not in ideas, attitudes, moral codes, and mental disciplines but in definable and static things that can be seized and redistributed is the materialist superstition.
It stultified the works of Marx and other prophets of violence and envy. It betrays every person who seeks to redistribute wealth by coercion. It balks every socialist revolutionary who imagines that by seizing the so-called means of production he can capture the crucial capital of an economy. It baffles nearly all conglomerateurs, who believe they can safely enter new industries by buying rather than by learning them. Capitalist means of production are not land, labor, or capital, but minds and hearts.
The wealth of America isn’t an inventory of goods; it’s an organic, living entity, a fragile, pulsing fabric of ideas, expectations, loyalties, moral commitments, visions, and people.
Abdelnour continues and confirms what Donald Trump said today on Good Morning America:
“If the majority of Americans smear, harass, overtax, and over regulate this minority of wealth creators, our politicians will be shocked and horrified to discover how swiftly the physical tokens of the means of production collapse into so much corroded wire, eroding concrete, and scrap metal. They will be amazed at how quickly the wealth of America is either destroyed, or flees to other countries.”
This post originally appeared in a new blog, www.determinatus.com