Can You Increase Prosperity By Taxing Success? - Politicrossing
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Can You Increase Prosperity By Taxing Success?

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“You can’t increase prosperity by taxing success.”

~ Calvin Coolidge

 

One of the mantras of Democrats is to make the wealthy pay their fair share. You heard it often on the campaign trail from the plethora of Democrat candidates who ran for president. So it should come as no surprise that one of the most vocal proponents of soaking the rich, Sen. Elizabeth Warren (D-MA), has offered up legislation for a wealth tax.

The bill, called the Ultra-Millionaire Tax Act, would apply an annual 2% tax on individuals with net worths between $50 million and $1 billion. Individuals worth over $1 billion would pay an annual 3% tax. Senator Warren claims it will generate $3 trillion in revenue over 10 years and that money would be invested in programs such as child care, education, and infrastructure.

On the surface, this may sound like a good idea to the common citizen working a 9 to 5 job. Why not soak the rich and make them pay their fair share? One must ask a counterquestion. What do you consider a fair share?

The top 25% of taxpayers pay 86 percent of total income taxes. The top 10% of taxpayers pay 70 percent. The top 5% pay 59 percent. The top 1% of taxpayers pay 38.5 percent of total income taxes. In contrast, the bottom 50% of taxpayers pay only 3.1 percent of total income taxes. It is a myth that wealthier individuals aren’t paying a fair share.

The next question is how do you enforce this wealth tax? It’s an administrative nightmare. In Warren’s proposed legislation, she allocates an additional $100 billion into the IRS for enforcement and mandates a 30 percent annual audit rate for the agency. That would mean hiring more IRS agents and a third of American households would be audited every year.

On top of that, do you really think wealthy people like Bill Gates, Mark Zuckerberg, Jeff Bezos, and Warren Buffett will actually pay that wealth tax? They may be big liberals but also realize they have some high-quality accountants to help avoid paying any more in taxes than necessary. They will find loopholes and off-shore accounts to shelter their wealth.

You may wonder why does this even concern me? Do you think politicians like Elizabeth Warren will stop at those with wealth of $50 million or more? You can already picture a scenario where the revenue this wealth tax brings in will be far less than they anticipate. Thus, they will have to expand the tax to anyone who has wealth of $20 million or more. Then to $10 million or more. Then to $1 million or more. It’s yet another slippery slope to an ever expanding tax.

“Well first of all, tell me: Is there some society you know that doesn’t run on greed? You think Russia doesn’t run on greed? You think China doesn’t run on greed? What is greed? Of course, none of us are greedy, it’s only the other fellow who’s greedy. The world runs on individuals pursuing their separate interests. The great achievements of civilization have not come from government bureaus. Einstein didn’t construct his theory under order from a bureaucrat. Henry Ford didn’t revolutionize the automobile industry that way. In the only cases in which the masses have escaped from the kind of grinding poverty you’re talking about, the only cases in recorded history, are where they have had capitalism and largely free trade. If you want to know where the masses are worse off, worst off, it’s exactly in the kinds of societies that depart from that. So that the record of history is absolutely crystal clear, that there is no alternative way so far discovered of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by the free-enterprise system.”

~ Milton Friedman

 

If Elizabeth Warren and her comrades were truly interested in leveling the playing field and making a difference in the lives of people across America they would advocate for limited government and focus on a more robust free-enterprise system. The reality is that’s not what they are seeking.

This legislation is more about pandering to the Democrat base and low-information voters in a continuing concertive effort at fostering class warfare and animosity. By creating division through class and racial strife the Democrats see their path to decades of power. This is all about redistribution of wealth.

You can’t expect to build up the weak by pulling down the strong. The entrepreneurs and visionaries create jobs. As businesses grow and expand they create further job opportunities and opportunities for ancillary businesses.

Warren’s legislation is an impractical and arbitrary scheme of leveling. It’s despotic and completely antithetical to our Constitution. In a sane Congress this legislation would find its way into the trash can. Given the current political situation in Washington that seems unlikely. Democrats are pushing forward on every one of their Marxist policies and insanity runs amok.

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Michael was born and raised in Wisconsin and is a graduate of the University of Wisconsin with a BA-History. He started writing a blog in January 2016 called, Conservative Thinker, and has written about politics, foreign policy, economics, and social issues with a historical perspective. He resides in Cullman, AL and enjoys hiking, photography, and traveling in his spare time. You can find him on Twitter and Instagram @buckyboymike and follow his blog at www.conservativethinker.net.



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Business

Multitasking Renders You Less Productive

Multitasking sends a message to your subconscious that this is how you must proceed to stay competitive and succeed

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Dividing your attention to complete multiple activities at once can make you less effective at everything you’re doing.

From CEOs to newbie hires, everyone has numerous tasks to manage throughout the course of a day, week, month, and year. The multitude of responsibilities on your plate requires the capacity for self-management, time management, and the effective allocation of your resources. However, don’t confuse legitimate workplace skills with the contemporary, ill-advised phenomenon called multitasking.

A False Promise

Multitasking might appear to be a reliable way to tackle many issues that compete for your time and attention. It seems intuitive that if you can juggle both A and B concurrently, you’re achieving a productivity gain and saving significant time. But the fallacy in that argument is surmising that the human brain can double-up or triple-up on tasks with no loss of attention, focus, or effectiveness.

A plethora of psychological studies have shown that the human brain can only give “sharp attention” in one direction at a time. Seeking to give this level of attention in multiple directions yields a reverberating type of attention allotted to each activity and predictably results in a loss of mental acuity and productivity.

A clear example of multitasking is when you’re driving along the highway and speaking on a smartphone. Even if you switch to the hands-free speaker phone feature, both activities compete for your brain’s vital sharp attention. So you execute neither activity as effectively as you could by undertaking one activity at a time. It’s also prudent to point out that driving while talking on the phone-hands-free or not-contributes to distracted driving and an elevated rate of vehicular accidents.

Multitasking Coexists Best With Routine

Certainly, it’s okay to multitask while completing some repetitive and familiar work activities. You can run a print job while you work with a file on your screen, for example. As long as the printer has adequate toner and the paper feeds through as designed, there is no deficit in multitasking in this manner.

Nevertheless, for whatever task you are attempting to handle, the fact that you are running a print job at the same time is likely to diminish your overall effectiveness.

The loss in mental acuity will be relatively minor, and you might not even be aware of it. The real risk of workplace multitasking, however, is that you never quite retreat to that mental space where you can offer concerted concentration and, hence, your best work. But if you trace your actions over time, you’ll likely see that for the larger tasks you executed effectively, you stopped multitasking and focused on the task at hand.

Sending the Wrong Message

Multitasking sends a message to your subconscious that this is the way you have to proceed to stay competitive and succeed. When multitasking becomes ingrained in your psyche, you’re telling yourself deep down that you can’t make it in real estate any other way. You end up missing the benefits derived from practicing the art of “doing one thing at a time.”

Multitaskers have trouble “seeing the forest for the trees” and often fail to focus on the most critical components of their day-to-day operations, abandoning less palatable tasks because they require creativity, concentration, and analysis.

As an everyday practice, repeated often, multitasking separates those who continually scramble to keep pace from those who rise to the top.

Avoid the Bind

Since we all face multiple priorities on the job, it’s easy to equate managing multiple priorities with multitasking. The larger and more vital the task, the more essential to focus on it intently. Practice doing one thing at a time. When you’ve finished a project or have taken it as far as you can, only then should you switch focus to your second most important task, and so on.

As your day and work unfold, mastering the art of doing one thing at a time is the best way to proceed. You may, however, multitask on issues that represent the routine or familiar and that carry few consequences for lost time on the trail. In general, though, your best strategy for high productivity is to forsake multitasking and its false promise as you handle the multiple priorities that you face.

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Business

Culture Jamming, by Kalle Lasn

America has been subverted by corporate agendas and its elected officials bow before corporate power as a condition of their survival in office

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Here are excerpts from the culture-shaking book, Culture Jamming by Kalle Lasn, published by  William Morrow in 1999, which rings truer now than ever!

A Multitrillion-dollar Brand

America is no longer a country. It’s a multitrillion-dollar brand…. essentially no different from McDonald’s, Marlboro or General Motors. It’s an image “sold” not only to the citizens of the U.S., but to consumers worldwide. The American brand is associated with catch-words such as “democracy;’ “opportunity” and “freedom.” But like cigarettes that are sold as symbols of vitality and youthful rebellion, the American reality is very different from its brand image.

America has been subverted by corporate agendas. Its elected officials bow before corporate power as a condition of their survival in office. A collective sense of powerlessness and disillusionment has set in. A deeply felt sense of betrayal is brewing.

By The People?

American culture is no longer created by the people. Our stories, once passed from one generation to the next by parents, neighbors and teachers, are now told by corporations with “something to sell as well as to tell.” Brands, products, fashions, celebrities, entertainments, the very spectacles that surround the production of culture, are now our culture.

Our role is mostly to listen and watch-and then, based on what we have heard and seen, to buy.

A free, authentic life is not possible in America today. We are being manipulated in the most insidious way. Our emotions, personalities and core values are under siege from media and cultural forces too complex to decode. A continuous product message has woven itself into the very fabric of our existence.

Most North Americans now live designer lives: sleep, eat, sit in car, work, shop, watch TV, sleep again. I doubt there’s more than a handful of free, spontaneous minutes anywhere in that cycle.

Smile Button Culture

The human spirit of prideful contrariness and fierce independence has been oddly tamed. We have evolved into a smile-button culture. We wear the trendiest fashions, drive the best cars industry can produce and project an image of incredible aff1uence-cool people living life to the hilt.

Behind that happy mask is a face so ugly it invariably shocks the hell out of my friends from developing countries who come to visit, expecting the giddy Americana depicted on TV and finding instead a horror show of disconnection and anomie.

Our mass media dispense a kind of Huxleyan “soma.” The most powerful narcotic in the world is the promise of belonging. And belonging is best achieved by conforming to the prescriptions of America™. In this way a perverted sense of cool takes hold of the imaginations of our children. And thus a heavily manipulative corporate ethos drives our culture.

The Facade of Cool

Cool is indispensable, and readily, endlessly dispensed. You can get it on every corner (for the right price), though it’s highly addictive and its effects are short-lived. If you’re here for cool today, you’ll almost certainly be back for more tomorrow.

American cool is a global pandemic. Communities, traditions, cultural heritages, sovereignty, whole histories are being replaced by a barren American monoculture.

Living in Japan during its period of sharpest transition to a western way of life, I was astonished by the speed and force with which the American brand took hold. I saw a culture with thousands of years of tradition behind it vanquished in two generations. Suddenly, high school girls were selling themselves after class for $150 a trick so they’d have cash to buy American jeans and handbags.

The Earth cannot support the lifestyle of the cool hunting American-style consumer. We have sought, bought, spewed and devoured too much, too fast, too brazenly, and now we’re about to pay.

Killing the Planet

Economic “progress” is killing the planet. This did not fully hit home for me until nightmarish environmental stories suddenly appeared on the news: acid rain, dying seals in the North Sea, medical waste washing up on New York beaches, garbage barges turned away from port after port, and the discovery that the milk in American mothers’ breasts had four times the amount of DDT permitted in cow’s milk.

To people like me, for whom time had always seemed like a constant, eternally moving train which people got on and, seventy years later, got off, it was the end of innocence. The premonition of ecocide — planetary death — became real and it terrified me. It still does.

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