Andrew Yang seems like a smart human being… he’s worked the capitalist system to extremes building a business that he sold for several million dollars and has written a couple of books. He started a non-profit organization that paid him in excess of $200K as CEO, which he bailed on just as the revenue rollercoaster was on the down slide.
He now has his hat in the ring to win the 2020 Democratic nomination for President. (I told you he seems smart. Being on the national political scene running for president will most likely net him another fortune.)
However, being smart doesn’t necessarily translate into being intelligent. During last night’s debate Yang showed his ignorance by bringing up one of the biggest liberal scams being perpetrated on the American people this year, which is that companies like Google and Amazon don’t pay any Federal Income Taxes. I’ll grant you that the statement may be technologically true because these businesses are set up as Limited Liability Companies and the taxable income is passed on to the owners who pay all the taxes on an individual tax return. But to imply that the owners of these mega companies don’t pay any income taxes on their profits is a classic case of using mis-information to enrage the wealth haters that make up a majority of your voting base.
Yang is also running on a platform of giving every adult in this country $1,000 a month no questions or qualifications required. To pay for that he’d add a value added tax (VAT) to all goods and services, which is on top of the income tax and state and local sales taxes? We already are raising a generation of slackers who are being told that you are entitled to someone else’s money just because you happen to be a part of the human race. Giving them a free $1,000 a month will do nothing but make them feel more entitled and lazy.
Bottom line is I haven’t seen one Democratic candidate for President that has any fiscal common sense. They all think a $15 and hour minimum wage is going to solve the poverty problem in this country… problem is shortly after you establish a $15 and hour minimum wage it’s going to take a $20 an hour wage to get you out of poverty. They keep saying that the rich don’t pay their fair share, but nobody is asking if the top 10% of income earners are already paying 85% of the taxes in this country just what is their fair share. Some of them want to create a 70% tax bracket on people making over $10 million a year… They cite that we had such a tax bracket back before Regan… But they fail to mention (here goes that mis-information tactic again) that before Regan you could itemize just about everything so you were paying 70% on maybe 30% of your total income. The Democrats want to bring back a 70% tax bracket on 90% of your total income… Unfortunately you won’t hear any of them give you that fact.
The only thing the Democrats have going for them is that there is no short supply of stupid people who can be easily made to believe that the rich are demons and don’t deserve that which they have earned. They don’t understand or want to believe the fact that they will never get a job from a poor person. The reality of life is that there will always be those who have and those who wish they had. There will always be those that are rich and those that are poor. I think that it was Yang that I heard say the phrase ‘trickle up economics.’ The problem with that is when the government runs out of rich people’s money to redistribute you end up turning this great country into just another shit hole place on planet Earth.