E-Newsletter No. 37______January 2017
On our website, we have a Conversation Piece entitled “Why Mitt Romney’s Comments About the 47% Were Not Correct”. Please note that we do not disagree with the fact / statistic cited by Mr. Romney – – 47% of our country’s citizens do not pay federal income taxes. However, we do take exception to the idea that we live in a country where 47% of our fellow citizens feel that they are “victims”. We continue to believe that the vast majority of Americans agree we live in a truly exceptional country – a land of opportunity.
We also take exception to the implication that because the 47% do not pay federal income taxes, these citizens are somehow deadbeats. The truth is that virtually every person who participates in our country’s economy (as an employee, or as a self-employed person) pays taxes to the federal government on the income that they earn. However, it is unfortunate that these tax payers are forced to redistribute a portion of their income to other recipients via Social Security and Medicare payroll taxes. And it is unfortunate that even with all of these payroll taxes and employer contributions, the deficits for these two “Democratic Socialism” programs contributed approximately $500 billion to the total $587 billion deficit last year.
And it’s unfortunate that when you include Medicaid, welfare programs, and interest on the country’s debt, the total of this “mandatory” spending now represents about 70% of the nearly $4 trillion the federal government spends each year. And this leaves just a fraction of the federal government’s tax revenues available for national defense and the other responsibilities of the government listed in the Constitution.
So, how have we allowed our federal government to get us into this predicament? As Ben Franklin warned, ”When the people find that they can vote themselves money, that will herald the end of the republic.” Mr. Romney’s solution to these problems (and the purpose of our Foundation) is to promote the concept of taking personal responsibility for your own life. Unfortunately, the Democratic Socialists would tend to disagree.
Many of us are familiar with one of Aesop’s Fables about the (irresponsible) Grasshopper and the responsible, industrious Ant. Unfortunately, our federal government (via its many “non-Constitutional” social welfare programs) has fostered a sense of entitlement among a large portion of our country’s citizens. But nowhere in the Constitution does it state that the federal government has a responsibility to provide for the essentials of everyday life (or a cash “pension” during your retirement years).
US Debt Clock – – December 1st – $61,262 per citizen / January 1st – $61,326