Tuesday, January 14, 2025

Investing for you

The opening paragraph of the news article below speaks volumes about the troubling state of today's society:

Maryland Gov. Wes Moore (D) on Tuesday announced a plan to raise income tax rates for the state’s wealthiest residents, money that would help close a looming $3 billion budget deficit and fund public taxpayer investment in private industries meant to strengthen the state’s economy.

Moore announces tax increases for the wealthy to close budget gap

The Governor proposes to steal money from individuals and then invest the spoils into private industries. For those of you who do not see a problem with this proposal, consider the definition of Fascism provided by the founder of that political philosophy:

Everything within the State, nothing outside the State, nothing against the State.  — Benito Mussolini, from a speech delivered to the Italian Chamber of Deputies on December 9, 1928

If this seems like an inappropriate comparison, how would you categorize the State taking money from private individuals and then investing it in private industry? Do you consider this free market activity? Do you consider this Capitalism?

Contrast Governor Wes Moore’s proposal with this advice:

A wise and frugal Government, which shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. — Thomas Jefferson, First Inaugural Address, 1801