Midnight Rantings

Tired rantings in a tired world.

Friday, April 23, 2004

Are We Wage Slaves?

Alan Reynolds: How to slash your taxes is a column that should scare the Generation X. What he is advocating is for everyone to work less to cut taxes. In a sense this is true. Our progressive income tax system penalizes productive people. People at the upper ends of the tax brackets must not only pay their "fair share" but also someone else's. If someone has the misfortune to have a adjusted gross income of $150,000 or more (not too difficult with two wage earners), then they have almost no deductions. Why should someone work harder to provide more for their family and have it taken by the government(s) at gun point?

In the book Atlas Shrugged, Ayn Rand took this to its eventual conclusion. People were castigated for wanting to keep their money, instead of giving it to the government. For those, who have not read the book, the system crashed because no one was left to produce. Think of a pyramid scheme with the base smaller than the pinnacle. The producers of the society left the society and the society crashed like a run away locomotive. Is that the future we want?

We are starting to see this in action. In this country we have the Prescription Drug Benefit, Medicare, Medicaid and Social Security. Unfortunately, we are going to be running low on producers. Baby Boomers are going to suck the government dry. Even the more conservative Boomers believe people should give to the government first and keep whatever is left over. The only way this will work is to open our borders to migrant workers.