DENNIS PATRICK: TAX TUTORIAL
The tax man’s near, and soon is here, and all must pay their due;
From each his wealth will extract a pelf -- oh my, it makes us blue.
Some taxes sure are necessary, but many of them are not;
Each person stands as their own tax base, it’s really all they’ve got.
Taxes were spent, and where they went, were for entitlements;
Most were bequeathed on “entitlees” claiming impoverishment.
Of all the mighty taxpayers, the high top five percent,
Pay over half the income tax; to the Treasury it was sent.
Fifty percent of the taxpayers, share more of the burden still;
Ninety-five percent of taxes paid, go into the Treasury till.
“Soak the rich!” is a bogus scheme as clearly seen above;
The “rich” pay more than their fair share;
Where’s the public’s “thanks” and love?
Expatriates are on the move taking all their money;
Beyond the reach of the IRS; it’s sad, but sort of funny.
Recently the IRS from Americans, you see;
Took more money by comparison, than any country.
Americans were so fed up, and truly irritated;
The public at the ballot box saw politicos expurgated.
Still, elected persons from all sides, for fear of being purged,
Kept voting higher taxes in no matter how they’re urged.
The sad truth prompts a rally call, a banner high and flappin’;
A higher tax will doom our land if we let it happen.
Here’s what politicians think, it’s plain for all to see,
“We must raise our taxes up to fill the Treasury.”
When politicians think this way it goes without a doubt,
They raise tax rates higher still regardless of our shout!
They actually think the higher rates the Treasury will fill,
They’re wrong -- because, in fact, it is the economy they’ll kill!
Their ointment has a fly within that should be evident;
While pols expect a glorious effect, it was never meant.
History shows it isn’t so, this trite thinking rejected;
For years and years there’s evidence, if they had just reflected.
Their charade blows up in their face (if they would just consider)
That good intensions run amok when running hither thither.
Prez Reagan, Trump, and Kennedy cut taxes to the bone
Resulting in a salary increase workers could take home!
What the heck, there is effect to any tax increases;
Economic harm is done when federal government fleeces.
High income folk don’t see the joke of their wealth confiscation;
Human nature motivates toward wealth preservation.
The legal ways our commerce takes (the feds conduct enforcement)
They’ll not create more wealth to stake for investing or employment.
It’s not so nice if you can’t entice people to produce.
They’ll stay at home, they’re handout prone. Tax increase cooked their goose.
Truth be told, and the tale is old, it’s all about incentives --
To work, to earn, invest, take risks, creatively inventive.
Incentives matter; they guide behavior. We’re mini-Pavlovian creatures.
That we reply to stimuli is only human nature.
Art Laffer, an economist, just as it would happen,
Sketched his idea simplistically upon a dinner napkin.
His famous curve that bears his name explains “supply-side theory”
That CUTTING taxes stimulates producing capital -- clearly
So now we know and let us go that we may grow most freely,
Such is the gist of Liberty, let’s know freedom sincerely!
Dennis M. Patrick can be contacted at (JavaScript must be enabled to view this email address).