The Importance of The American Dream
There is more going on here regarding the debate over taxing the “wealthy” than the deficit or the plight of the middle class. In America we have something no other country on the face of the planet has every had. This something is the reason why the US economy is $14.3 trillion, while our nearest competitor is less than $6 trillion; not even close. This something is the reason why there are 403 billionaires in the US, while our nearest competitor has 62. This something is the reason why immigrants from the four corners of the globe risk life and limb to get to our shores. This something is why millions of Americans start new companies; why entrepreneurship is so strong in the US. What is this something? The American Dream.
The American Dream is the idea that an individual or their family can rise from poverty to wealth in one or two generations. It is the idea that the wealth that we create is ours to keep (property rights). It is the idea for a better life for our children and our children’s children. There has been an intentional indoctrination of America’s citizens to revile the “wealthy” and castigate them as evil. This is wrong. The wealthy in America are not evil. They are the American Dream achievers. They buy into the American Dream. They risk everything in order to create a better life for their families. The American Dream is responsible for the largest economy the world has ever known.
The next time a politician, the media or some pundit opine on the need to tax the “wealthy” more than everyone else, I want you to substitute the phrase “American Dream Achiever” for “wealthy”. American Dream achievers, the “wealthy”, should not be punished with punitive taxes. They should be held up as true American heros. They are the reason for America’s greatness as the world’s #1 economy. This group should be honored, not reviled. They should be taxed less, not more than everyone else through lower taxation of business profits, capital gains, dividends and interest income. There needs to be an incentive for those who seek and achieve the American Dream. The US needs to send a message to our children that the American Dream is real and worthy of pursuit. Taxing the “wealthy” more than others is wrong-headed. It’s anti-American Dream.