Politics

The data does not lie. It has taken over two years to gain back the jobs that Democrat policies destroyed in 2020. Understandably, they feared Covid-19, but that does not mean they did the right thing. Non farm employment has just recently passed pre-pandemic levels. This means that Biden’s policies have created very few jobs despite the massive inflation they have caused. Inflation in all sectors has hit levels that many of us have never experienced in our lifetime. The energy sector leads the charge on inflation. This was in part because of Biden’s immediate policy changes. Within his first weeks in office, he attacked US energy production by closing the XL Pipeline and limiting natural gas drilling. While war in Ukraine may have some impact on energy, the impact was compounded by the reduction in oil futures. This is because energy is a commodity and commodities are strongly affected by predictions pertaining to their future supply and demand status.

To make matters worse, by “forgiving” student debt Biden is throwing fuel on the inflation fire. While “free” money seems enticing, it is actually detrimental to our overall wellbeing. If left alone, the economy will reach equilibrium and people will be fine without government intervention. However, the more that attempts are made to artificially fix the issues, the longer the market will take to adjust. Everyone should be appalled that the government manages to throw money out to the people in election years. Even people who receive no direct benefit often feel they are helping the poor. Unfortunately, that is not true. The best thing the government can do to help people out of poverty is encourage the creation of opportunities. This is achieved quite simply by not over regulating businesses and not overtaxing anyone.

Taxes are a necessary evil in society. We benefit from street lights, bridges, highways, safety regulations, health inspections, and public education to some extent. We also benefit from having emergency services. Taxes are usually intended to be established in a way such that anyone who benefits from the service is obligated to contribute. For example, crime is lower in neighborhoods where education is high. Therefore, school taxes are based on property in many areas. Anyone who owns a business knows that businesses big and small experience an added level of taxation. Company profits are taxed, employee income is taxed, and then, corporations are required to match the tax paid by each employee. Large corporations typically have thousands of shareholders, which are people who own pieces of the company, called stocks. Each of those people receives a portion of the company’s unused profit; then, they pay taxes on the money they have gained from the company. If you’re paying attention, you see that the government has taxed the money from the time the company received it to the time they spent the money. This information comes directly from the IRS and Double Taxation. . The government is getting huge payouts from corporations through these taxes, they are simply not called income tax when they are talking to the voters they would like to purchase. The idea that corporations do not pay their fair share of taxes is ludicrous at best.

Likewise, wealthy individuals typically do not take incredible paychecks home to be plundered by income tax. Instead, they hold shares in their company. This is what gives them authority in the company. When dividends are paid to the shareholders, the shareholders pay taxes on the dividends. Corporations do not always pay cash dividends, though. Some years the money is reinvested in the company. Shareholders can sell their shares when they want money, which results in capital gains tax. Little attention is given to the ways that most wealthy individuals contribute to their communities. Additionally, they often contribute to charities. Moreover, income tax is not the only tax that wealthy people are required to pay. Clearly, there is a fundamental misunderstanding, among the general population, about how a corporation and taxation works. Politicians like to use that ignorance to manipulate the emotions of their voting base.