Even Barack Obama and his fellow travelers on the left now understand that the federal debt they created must be reduced. But their answer to the dilemma of debt reduction—no surprise here—is to raise taxes. Even a cursory glance through an Economics 101 text would show liberals why raising taxes will not work. The short version of what they would learn from this exercise can be summarized as follows: Incentivize something and you will get more of it. Tax something and you will get less of it. Tax work and people will be less inclined to work. Tax investments and people will be less inclined to invest. Tax savings and people will be less inclined to save. Tax businesses and they will relocate to where they are taxed less—places such as China.
The philosophy of the left concerning taxes is simple: more is better. The more liberals can take from Americans in taxes, the more control they have over them and the more money they have to fund the implementation of their misguided policies. Consequently, they are not above using class envy to achieve their goal of more and more taxation. It has practically become mantra for President Obama and liberal members of Congress to advocate for higher taxes on the wealthy and those mean old businesses that do nothing but create jobs for people. President Obama tries to win sympathy for his argument by including himself as one of the wealthy Americans who should pay more taxes. Of course President Obama always fails to mention an important fact about all that money he claims he does not need. One of the reasons he has so much spare change is that his room, board, and transportation are paid for by American taxpayers who he thinks do not pay enough in taxes.
Claiming the wealthy in America need to pay more in taxes has become mindless mantra among liberals. This strategy is nothing more than the class-envy phenomenon warned of by Helmut Schoeck in his book, Envy: A Theory of Social Behavior. In addition to the philosophical and logical arguments against exploiting class envy, there is also a practical problem with this plank in the Obama platform: the top 1% of income earners in America already pay more in federal income taxes than the bottom 95% combined.