Reagan Budget Director Cries Tax The Rich?

by | Nov 17, 2010 | POLITICS

On Sunday night, October 31, CBS 60 minutes reported, “David Stockman, Ronald Reagan’s budget director who once preached tax cuts, is now in favor of putting a one-time surtax on the rich.” Mr. Stockman said more. He remarked “both the Democrats and the Republicans were lying to the American people regarding the need to lower […]

On Sunday night, October 31, CBS 60 minutes reported, “David Stockman, Ronald Reagan’s budget director who once preached tax cuts, is now in favor of putting a one-time surtax on the rich.”

Mr. Stockman said more. He remarked “both the Democrats and the Republicans were lying to the American people regarding the need to lower taxes.”

He said that it would be the worse thing to do at this time because of the trillion+ dollar debt. He listed Medicaid, Medicare, Social Security, food stamps and other welfare programs that had to be taken care of.

At the same time, on the same program small businessmen in Newton, Iowa were interviewed, their story sympathetically reported. The story reported a truly devastating situation in a town (population 14,000) that had once been a busy and important supplier to other businesses. Now it is being destroyed by Obama’s socialist policies.

Clearly Mr. Obama and Mr. Stockman have something in common. They both are in favor of “soaking the rich”—the one sphere where savings and investments could re-establish loans and free-markets. One has to wonder at this alliance. Both Obama and Stockman clearly believe that money can be magically generated in American pockets ad infinitum to pay for risky mortgage loans, irresponsible bailouts, propping up government agencies and failed business, such as AIG, another child of government intervention in the economy.

What neither mentions is that there is a very good way to raise money and not raise taxes. But no government official and/or employee—ex-or otherwise—ever mention the obvious.

Yes, things are in shambles—thanks to government intervention in our economy. But there is nothing realistic about raising taxes on anyone—the rich included.

Consider the following.

1. Literally hundreds of regulatory agencies and commissions employ thousands of workers. American taxpayers pay their salaries. Discontinue their employment and stop a sink-hole of wasteful spending.

2. There are at present over 2 million government workers. American taxpayers pay their salaries. Discontinue their employment. Another dollar drain stopped.

3. Elected officials are given on average $164,000 per year for the highly questionable “work” they do. Multiply that average by 535. American taxpayers pay for that. Cut elected officials pay 75%. Get rid of the jets and the helicopters and the free meals and travel expenses. More money saved.

4. The cost of maintaining government buildings in D.C. alone comes to staggering millions of dollars. American taxpayers pay for that. By shutting down government agencies and discontinuing the employment of federal workers, those buildings can be rented out or sold to private enterprise. This would save more millions of dollars.

5. The government claims that it owns millions of acres of our nation’s land. Sell the land to private individuals. Use the money to pay the bills the government has incurred.

Why is it that the American taxpayers are forever forced to pay for government fiascoes? Why is it that government officials never think of cutting their own salaries and expenses but expect American taxpayers to tighten their belts instead?

Time to set out priorities properly. Get rid of big government and save a trillion dollars or so of irresponsible, useless, wasteful and damaging spending.

Sylvia Bokor is an artist and writer. You can read more of her writings on her blog.

The views expressed above represent those of the author and do not necessarily represent the views of the editors and publishers of Capitalism Magazine. Capitalism Magazine sometimes publishes articles we disagree with because we think the article provides information, or a contrasting point of view, that may be of value to our readers.

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