I see that it has been sometime since I last posted anything. The primary reason was that I knew I had to make the confessional headline. I clenched my teeth, held my nose, and loosened my bowels, then put the X beside the Biden-Harris ticket. I had bullyragged myself into believing they could restrain the red (in the old fashion sense of socialistic) wing of their party and focus on drawing a battered country somewhat closer together, maybe even close enough that an old-fashioned conservative President could be elected to govern us decently.
But, with indecent haste, Biden-Harris and the whole damned
squad started right in on the Democrats’ program of confiscation and
redistribution. They are targeting the
top 1.8 percent of taxpayers—those making more than $400,000—and, according to
an analyst at what even a media outlet calls “a left-leaning think tank”, are
really targeting the top 1 percent or even one-tenth of a percent.
But here’s the problem:
Even if you took all, I say again all, of those top 1.8-percenters’
money, you wouldn’t make up for the roughly $5 trillion the Biden
administration has allocated for economic stimulus in response to the Covid-19
pandemic and proposed for pork-barrel infrastructure spending.[i]
The top 1.8 percent of household account for about 25 barely
percent of all income, according to Census Bureau data for 2019.[ii] Personal income in the United States in 2020
totaled just under $20 trillion.[iii] Do the math.
(I apologize to my old colleagues in the Federal statistical system; I
am in the process of learning why outsiders take these kinds of mix-and-match liberties.)
And just covering the new spending on pandemic relief and does
nothing for the $20 trillion in public Federal debt that was owed as of August
last year. The upshot of all this is
that saying the “rich” are going to pay all of even the newly squandered debt
is selling a pig in a poke. Not only
does that represent literal confiscation of the group’s income, it ignores the
fact that these folks can afford lawyers and accountants skilled in finding the
legal and financial holes in the confiscatory nets.
So, it will be added to the burden on my grandson. His share of the current national debt is
about $80,000. The new, and probably never-to-be-extinguished,
debt already brought on by the Trump and Biden administrations responses to the
public health crisis and the Biden administration’s “jobs bill” will be another
$13,000 by 2036, the year the leftists assure us the rich will have paid off
all their spendthrift indulgence. The total
my grandson will be responsible for (you know they aren’t going
to take responsibility for anything), will be somewhat north of $90,000. The boy is only 4 and has only a tenuous
grasp of the tens place, so he’s not worried now. But when he’s 19 and the only people left
that don’t categorize themselves as rich, and thus taxable, are elected officials
and their accomplices, who can tell what he’ll grasp.
So in the end I have to admit I was wrong and should have written
in “None of the above”. No president
would be better than what we have or, even more emphatically, than what the
alternative would have been.
