E-Newsletter No. 70 October 2019
Let’s flip the script on Bernie Sanders and ask a very pertinent question – ”What is the direct impact on my own specific personal life today that stems from the fact that Bill Gates’ net worth is $90 billion and Warren Buffett’s net worth is $83 billion?” By the way, we are not picking on Bill and Warren. It’s just that they are two of the most financially successful, wealthiest people in America.
If you ask yourself that question (and answer it honestly) you would have to admit “The wealth of Bill Gates and Warren Buffett does not have any direct effect on my own personal life.” So, what is the source of the moral outrage that you constantly hear from Bernie Sanders, AOC, and the other “Democratic Socialists”? Could it possibly stem from one of the Seven Deadly Sins called Envy? OK, maybe that’s a little harsh. So, maybe it’s just because they feel they are entitled to a large chunk of Bill’s and Warren’s wealth. (More on that later).
So, let’s flip the script on Bernie once again, and ask “What is the direct impact on my own specific personal life today that stems from the fact that Bernie Sanders owns three homes, including a home in one of the most expensive areas of the country called Washington DC, and one on the shores of Lake Champlain?” Again, an honest answer would have to be “The wealth of Bernie Sanders has no direct effect on my own personal life.”
So now let’s alter the question slightly to ask “Do these individuals’ wealth have a possible effect on my own personal life in the future?” In the case of Bill Gates and Warren Buffett, the answer is “possibly”. Because they are entrepreneurs and businessmen, they might possibly use some of that wealth to create new companies that could employ additional members of our society, which just might possibly include you. In the case of Bernie Sanders, he might use his public platform to push for more crony socialism in our country, in an attempt to draw even more of our citizens’ tax dollars to Washington DC.
Here are a couple of other thoughts about the “non-issue” of wealth inequality – – if the federal government were to “appropriate” (aka “confiscate”) the entire net worth of both Bill Gates and Warren Buffet (which they have accumulated over their lifetimes) that one-time confiscation would not even put a dent in our federal government’s one-trillion-dollar ANNUAL deficit. Please note that in The 2020 Initiative, we do recommend that the top marginal income tax rate be increased to 45%. (The socialists want a 70% rate). However, we oppose the idea of a “wealth tax,” because that idea simply means the federal government would then be taking four different cuts from a person’s income – Social Security Taxes, Medicare Taxes, Income Taxes, and a new additional wealth tax down the road on the same income. Our message to Elizabeth Warren is “Stop! Enough is enough!” It’s time for the federal government to cut spending.
This month, we have added a new Conversation Piece on our website entitled “Some Wisdom from Thomas Sowell”. Here is the link –
https://www.f2ppr.org/wp-content/uploads/2019/10/Some-Wisdom-from-Thomas-Sowell.pdf
We hope you appreciate his Pearl of Wisdom at the end of the piece – “If you have been voting for politicians who promise to give you goodies at someone else’s expense, then you have no right to complain when they take your money and give it to someone else including themselves.”
It is time to call for an Article V Convention of States, to propose amendments to the US Constitution to impose fiscal restraints on the federal government, limit the power and jurisdiction of the federal government, and limit the terms of office for its officials and for members of Congress.
US Debt Clock – – September 1st – $68,426 per citizen / October 1st – $68,652