One of my daughters recently texted me a “where do you fall on the political spectrum?” quiz. She was curious to see how my results compared to those of a friend who speaks fondly of socialism.
His results were predictably leftist.
I’ve been encouraged lately by some of what I’ve read from folks who are certainly a good deal younger than I am. Nonetheless, some points of contention emerged, notably inspiration from Republicans like U.S. Sen. Marco Rubio of Florida.
He grabbed headlines in November with his promotion of “common-good capitalism.” One “modest and prudent” shift Uncle Sam could apparently make is a “beefed-up child tax credit.”
Modest? Perhaps. Prudent? Not really. Going the wrong direction in the tax debate? Most certainly.
The best system of taxation is one that is minimal, the sole purpose being to fund the constitutional functions of government.
A 5 percent, maybe 10 percent, levy on incomes would suffice, and clearing out the thicket of loopholes in our convoluted code would save taxpayers billions of dollars and hours spent annually to be in compliance. It would also free tax specialists to pursue more productive endeavors.
This assumes we are unable to repeal the 16th Amendment and redirect taxation to where it should be applied: consumption. After all, why do we disincentivize that which powers our prosperity: work, saving and investment?
Either way would carry the added benefit of a massively shrunken IRS.
For those concerned with debt and deficits, driving the tax rate down so low is one of the two ways to rein in certain accounting measures. Investors will keep loaning to Uncle Sam as long as they are confident he can service the debt. A rock-bottom tax rate might introduce doubt into that calculus.
The other way is to take a machete to the real problem — spending, a two-party problem in Washington.
In this area, President Donald Trump has more or less fit the typical Republican mold: propose cuts to domestic spending while increasing the Pentagon’s budget.
While 5 percent department cuts, tightening SNAP (Supplemental Nutrition Assistance Program) requirements and attempting to rescind unspent funds are admirable, the biggest problem is that entitlements need reform. Alas, as a candidate Trump swore off addressing the issue in any way other than the clichéd “getting rid of waste, fraud and abuse.”
Absent comprehensive reform, the last thing conservatives should stoop to is populist pandering on the campaign trail. Proposing narrow measures will only compound the problem.
Similarly, the GOP should not be competing with the left to buy votes by hooking Americans on new entitlements such as child care assistance. Whether via increased benefit eligibility or a plan like that of presidential hopeful Sen. Elizabeth Warren, it will only serve to artificially inflate costs.
Conservatives choose these strategies at their own peril. At best they end up playing on the left’s turf. At worst, they implicitly agree Americans are mere subjects to be controlled and manipulated from thousands of miles and multiple jurisdictions away.
It’s sad enough that the supposed small-government GOP barely gives lip service to abolishing Cabinet agencies. Now not only are there calls to add to the bloat, but some are trying to convince Americans the administrative state fosters prosperity.
That’s like saying consumer expenditures “power growth.”
The vast majority of the time, government spending skews incentives, creating a dead-weight loss to society that manifests itself in bureaucrats’ salaries and the lifestyles of power-hungry politicians, particularly those who “retire” to lobbying.
The right either wants to be part of this parasitic machine or it wants to deprive it of the bloodline of the American people.
The classic riposte to my daughter’s friend’s leanings is “wait until he sees his first paycheck.” On the contrary, it’s never too early to teach our children about unintended consequences and our system of federalism.
The Republican Party needs to draw a clear line of distinction with Democrats. If they don’t stand unequivocally for these lessons, young folks may very well succumb to the seduction of the deceptively mythical “free lunch” the left is offering.
Christopher E. Baecker manages fixed assets for Pioneer Energy Services and is an adjunct lecturer of economics at Northwest Vista College in San Antonio.
"Opinion" - Google News
January 28, 2020 at 05:00AM
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Opinion: Conservatives shouldn’t try to play on liberals’ turf - San Antonio Express-News
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