What’s the defining characteristic of our political masters?
Going all the way back to when they ran for student council in 6th grade, is it a craven desire to say or do anything to get elected?
Or is it the knee-jerk desire to buy votes by spending other people’s money?
The answer is yes, yes, and yes, but I want to add something else to the list.
One of the most odious features of politicians is that they think they’re entitled to all of our money. But it goes beyond that. They also think they’re doing us a favor and being magnanimous if they let us keep some of what we earn.
Think I’m joking or exaggerating?
Consider the fact that the crowd in Washington says that provisions in the internal revenue code such as IRAs are “tax expenditures” and should be considered akin to government spending.
So if you save for retirement and aren’t subject to double taxation, you’re not making a prudent decision with your own money. Instead, you’re the beneficiary of kindness and mercy by politicians that graciously have decided to give you something.
And the statists at the Washington Postwill agree, writing that folks with IRAs are getting “a helping hand” from the government.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for September 22nd, 2014 | John Ransom
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