STEVE ERDMAN: Socialism cannot guarantee individual freedom | Representatives
The biggest shackles of freedom are taxes. Taxation is the means used by the government to enslave its citizens. The amount of money withheld from your paycheck, the amount of money you pay in property taxes, and the amount of money you pay in store sales taxes constitute your level of subservience to the state. Communism and socialism have ways of making you pay even more taxes than you think. Let me explain.
The Biden administration has boosted the economy by distributing large sums of money through its paycheck protection program, infrastructure spending program, and child tax credit program. These socialist programs injected huge amounts of money into the US economy with negative effects on the economy. In many cases, the documents were important enough to remove the incentives to work. The result is that many business owners cannot find the help they need to run their business today.
Printing money is bad for the economy. When the Federal Reserve prints money to pay for these socialist programs, it drives up inflation, the dollar goes down, and the result is that every American’s purchasing power is shielded. But that’s not the end of the story.
To stay afloat, the cycle must repeat itself. In order for the federal government to continue paying its bills, it has to somehow generate more money. But governments cannot generate revenue! So how do they make more money? The federal government creates another stimulus package, then the Federal Reserve prints the money to fund the new stimulus package, and then puts more money back into the economy, which broadens the tax base so that the IRS can collect more tax revenue, which is then used to pay government bills. Rinse, lather, repeat – that’s how they do it!