by Lee Presser
The national elections during the next decade will be about who will control American national wealth. Will it be you or a government political class?
Robert Reich, economist and former Clinton administration Labor Secretary, claims that during the next 50 years, there will be an inter-generational transfer of about $100 Trillion of American wealth. In a 11-24-99, "Marketplace" commentary on National Public Radio, he complained that too much of this $100 Trillion is going to be transferred to the heirs of the deceased and not enough of the wealth is to be turned over to the government treasury in the form of taxes. He said that in some cases it might be a bad thing for heirs to inherit large sums of money.
Dr. Reich represents what some describe as the Liberal political position. That group believes that wealth created by citizens is part of a national government treasure. They believe it is the citizen's obligation to turn over to the State a percentage of the wealth which has been created. The percentage is determined by the State and citizens are obliged to comply under penalty of confiscation. (That heavy-handed attitude reminds us of those old Robin Hood movies. The Sheriff's men come for the tax money but if there is none, they take the pigs, cows, and chickens.)
Americans have forgotten that ours is a voluntary tax system. Citizens through their representatives are supposed to set tax rates which will collect only enough money for the government to carry out its Constitutional duties. Those duties are clearly spelled out in a contract which is not to be changed without citizen approval. The contract is there to protect us from politicians who wish to separate us from our own wealth. The spirit of that contract is being violated by a political class who benefit friends, associates, bureaucrats and campaign contributors ahead of the general public. The Constitution is that basic contract, and it is being subverted. The public is being lulled into a submissive state. They are being anesthetized by television, sports, concerts, and the bar scene. But, they will waken in the next decade to claim what is still theirs.
America's political class, like those found in China and in the old Soviet Union, believes itself to be the guardians of "the people." It collects money where it can, by prying it out of your wallet, your purse, and your grand kid's future. They do this so they can be heroes to those who get your money through them. Their name is on the check, not yours. Do you get any of the credit? No! You are just the arms and brains that provided the money.
Worse yet, a portion of your money remains in the hands of those government workers that your money has passed through. Like Bankers, they make their living by handling your money. If not for your money, the political class and the social work class would have to get money like everyone else.
We pay people to take our money and spend it where they think it will do the most good. How much longer can the American family afford to have these governmental vampires attached to their back pockets. The time has come for Americans to awaken from their illusions, find trustworthy Statesmen, and elect them.
The elections of 2002, 2004, 2006, and 2008 will be critical in determining if there will be anything left for our children and grandchildren to inherit.
Lee A. Presser
