One of the causes of the American Revolution was unjust and burdensome taxation from the British government. Unfortunately, American Democrats are now in support of an even more burdensome and unjust tax system, which is exactly what Alexander Hamilton and the other Founders would have opposed.
Today is the anniversary of Alexander Hamilton’s birth, an excellent time to remember that Hamilton was not only a heroic and daring soldier during the Revolution, but a talented Secretary of the Treasury — indeed, the first man ever to hold that office. And one of his quotes comparing oppressive taxation to slavery seems particularly applicable as woke California wrecks its political and financial situation yet more with a proposed wealth tax.
In 1774, when he was still a teenager, Hamilton was already very awake to the cause of liberty and the possibility of rebellion against British tyranny. “Under the auspices of tyranny the life of the subject is often sported with, and the fruits of his daily toil are consumed in oppressive taxes, that serve to gratify the ambition, avarice, and lusts of his superiors. Every court minion riots in the spoils of the honest laborer, and despises the hand by which he is fed. The page of history is replete with instances that loudly warn us to beware of slavery,” he observed.
As problematic as British taxation undoubtedly was at the time, our current progressive tax system and welfare state would probably have horrified the Founders to an even greater degree.
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Perhaps the most extreme example of what is flawed with modern taxation policy for Democrats in particular is the proposed wealth tax in California, which is already driving rich taxpayers out of the state. Billionaire hedge fund manager Bill Ackman did not refer to the tax as slavery, as Hamilton did, but he used similarly strong language in condemning it as a form of theft.
At least six billionaires have cut ties with the Democrat-run state of Commiefornia and about 20 more are considering following their example, according to the New York Post.
Y Combinator CEO Garry Tan broke down the numbers for the co-founders of Google, Larry Page and Sergey Brin, specifically. Tan explained how the wealth tax would end up wiping out 50% of their shares in Google‘s parent company Alphabet and costing them $60 billion each. The problem is that this is not only unjust, but it also doesn’t just affect billionaires. Wealthy business owners will take a lot of jobs with them when they leave California. That means ordinary American workers will suffer from the wealth tax as well. This policy is economic suicide.
California is facing an $18 billion budget deficit, and instead of slashing its many freebies for illegal aliens and boondoggle projects like the high-speed rail that is never actually built, Democrats want to spend drunkenly and make up the difference by stealing yet more of their taxpayers’ money. All they are succeeding in doing is driving taxpayers away and costing jobs.
As Hamilton would warn California, beware of oppressive taxation that borders on slavery.
