An Important Lesson on Economics by Sen. John Kerry
Only Nixon could go to China and only John Kerry could debunk “progressive” economics. It would take a tax and spend, big government, soak the rich, nanny stater like Sen. Kerry to clear up any misconception on the realities of the economic impact of the progressive agenda. All of that progressive rhetoric is for getting votes, but when applied to the real world, it just doesn’t work.
Senator Kerry just bought himself a new $7 million yacht. Good for him, I have no problem with that other than envy. Faced with almost $500,000 in sales tax and a hefty annual excise tax if he he took his new toy home to Massachusetts, he very reasonably decided to leave it in neighboring Rhode Island. Rhode Island evidently repealed similar taxes over a decade ago resulting in it becoming to some a “nautical tax haven”, but I’m sure to others a source of growth in employment in the maritime industry.
Politics is one thing and how you spend your own money is a whole different thing. Sen. Kerry has shown us all how the real world works in a way no conservative ideologue could. Progressive economics just doesn’t work. Soak the rich and they take their yachts and play somewhere else. With their yachts go the jobs. Nanny staters pile on entitlements to buy votes and someone has to pay the bill. Tax and spend states have to continue to raise taxes as a result. Without the rich to kick around anymore, the middle class takes it on the chin.
The same lesson can be applied at the national level. Is there any doubt why we’re in a jobless recovery?
Richard Gabel
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