Haupt: How overtaxation can kill an economy

“I hate big government, but I really hate a government that doesn’t work. So when they say we either have to raise taxes or cut core services, it’s actually a false choice.”
– Scott Walker
During the late 1970s and continuing for a decade, America experienced unprecedented prosperity.
President Ronald Reagan created wealth and jobs, and everyone prospered. Under his leadership, Americans changed the incentive structure on all taxes, inflation, and regulation. This enabled our economy to roar back to life after the anti-growth, high-inflation Carter years that devastated the US. But as usual, few political leaders profit from the sins of the past. And in the past eight years, America has moved away from protecting capitalism, which has decimated growth and prosperity. This is why blue color America rebelled and elected a president with a stellar record of free market success. He campaigned in blue and red states to give everyone the same opportunity to be prosperous like him.
“Government’s first duty is to protect the people, not run their lives.”
– Ronald Reagan
The policies of Barack Obama, Hillary Clinton, Harry Reid and Nancy Pelosi caused America to lose its status as the world’s growth and job-creation machine. Their economic mismanagement of our nation was an unmitigated disaster. Economists warned them if they did not curtail expanding government, we’d go belly up.
This gang of four’s policies not only failed to articulate a recovery; they set us back to the nightmare created by Franklin D. Roosevelt. The activist Federal Reserve and Obama’s fiscal stimulus policies ravaged social and economic progress. Their systemic solution to try and revive a failing economy was to raise taxes and redistribute wealth. This was only a straw man to cover up their plans to facilitate their brand of progressive social engineering.
“Those who believe that what our people desire is big

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