When it comes to taxation, it is all about who gets to spend the money. Politicians want the money because they feel they have better ways to spend it. They want to take the money away from the people that have proven they can generate wealth and prosperity and then determine its use themselves. Keep in mind these are politicians who are influenced almost exclusively by political whims and lobbyists. These bureaucrats will inevitably take the land, labor, and capital resources from prosperous businesses and combine them in ways that actually destroy wealth. It’s immoral to take the property in the first place, but to use a, “It’s for the greater good” mentality to justify it is also irrational. The greatest good that the money could do is going to come from individuals who actually have the ability to generate wealth, not in the hands of those who cannot.
Take Solyndra, for example. Our government took more than $500 million from its citizens saying they were investing the money in our future. They did this even with warnings from PricewaterhouseCoopers, who said that the Solyndra’s business model was not only problematic, but unsustainable. Politicians, with their, “I can use this money in a better way than you can” mentality lost the nation’s entire investment in the company. They had no right to take the money or to spend it in the first place, but taking it also led to the destruction of half a billion dollars in savings and wealth. Obviously not the greatest good.
It is completely incorrect to assume that government can be a better investor of wealth than the individuals that had actually earned the wealth. In addition, by taxing extra investment money in general, you are effectively taking that capital out of the business sector entirely. You end up using taxation to fund excessive government spending and therefore disallow that money to be reinvested into the profitable business you are taxing. Investments in the private sector by definition will diminish, which is counterproductive to economic growth.
It’s also incorrect to assume that the government needs more money. Our country quite literally declared its independence by stating that every individual has the right to life, liberty, and the pursuit of happiness. More specifically, our nation’s declaration stated that these rights are unalienable. These rights are rights to act free of coercion from others. Therefore, the only proper role of government is to protect individuals from coercion- as in the taking property by force (no matter how noble you think your ends are). Because they are unalienable, they are rights that cannot be taken away. You don’t lose them the moment you make over $1,000,000. It also means that the use of democracy must be limited by each individual’s unalienable rights; you don’t lose these rights simply because a majority vote says so. Bottom line, every individual has a right to the property they have justly acquired because our rights to life, liberty, and the pursuit of happiness are unalienable.
Increased taxes, which transfers investment choices from successful businesses with proven ability to generate wealth over to politicians, will lead to death of the United States.
"If I had not known that my life depends upon my mind and my effort, if I had not made it my highest moral purpose to exercise the best of my effort and the fullest capacity of my mind in order to support and expand my life, you would have found nothing to loot from me, nothing to support your own existence. It is not my sins that you're using to injure me, but my virtues - my virtues by your own acknowledgement, since your own life depends on the, since you need them, since you do not seek to destroy my achievement but to seize it." –Hank Rearden, Ayn Rand
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