This past week, socialist House Representative Alexandria Ocasio-Cortez announced her endorsement for the controversial Jeremy Corbyn to be the new British Prime Minister. This really shouldn’t be a surprise to anyone since the squad leader is known to keep company with anti-Semitics and worse.
She even retweeted a video from Corbyn’s campaign, saying, “This video is about the UK, but it might as well have been produced about the United States. The hoarding of wealth by the few is coming at the cost of people’s lives. The only way we change is with a massive surge of *new* voters at the polls. UK, Vote!”
And she is right; it could have been produced here. Bernie Sanders, who she also endorses, has a very similar video clip out for his campaign. One that blames the rich for the conditions of the poor and tells us that if they would simply share their money, all our problems would be solved. This, after all, is the idea behind all of the ‘free stuff’ progressive leaders want to hand out. Their thought is that if we get rid of the wealthy or at least tax the hell out of them, then we can give the rest of America free housing, education, healthcare, and more.
The only problem is that their plan won’t work. While they stand around complaining about cutting budgets and taxes and dreaming up ways to do the opposite, they fail to see what their tax increases and ‘free stuff’ plans would do to the national deficit.
Britain is a prime example of this. According to the Financial Times, “For much of the past decade, Conservative chancellors George Osborne and Philip Hammond have promised big reductions in government borrowing and often failed. The Spring Statement 2019 did not fit that pattern. A decade on from the financial and economic crisis, the chancellor can now say the deficit is fully under control.”
“With the government books in deficit in 2009-10 to the tune of £153bn, amounting to 10 percent of national income and £1 in every £4 spent, public borrowing is now set to be just £22.8bn this financial year, only 1.1 percent of gross domestic product.”
“The Office for Budget Responsibility also notes that for the first time since 2001-02, Britain will run a primary surplus in 2018-19, meaning that tax revenue covers all the government’s spending needs apart from interest on past debt.
But according to AOC and her newly endorsed Jeremy Corbyn, the national deficit is of little concern. They would rather see every citizen living in precisely the same manner than having very little national debt.
According to all of their ‘plans,’ there won’t be any additions to the national debt on their watch. Instead, the wealthy (and everyone else) will be taxed to pay for all the things they plan on implementing. But once again, it won’t work. Somewhere their math is simply way off.
Let’s say we take all of the wealth from the United States’ current 607 billionaires. It would roughly add up to a few trillion dollars. And while that seems like a lot of money, it would only cover Sanders’ and Warren’s Medicare for All plan for about a year or two. Not nearly the 10+ years they promised. And that is all of their wealth, not merely a tax on it, even if it is a high one.
Then we have to think about all the other changes these candidates want to make. Tuition-free college for all, universal childcare and preschool, housing control, AOC’s Green New Deal and her “Homes Guarantee” and minimum income plans are to also be put in place. But where is the money for this coming from?
So you see, the idea that billionaires are the cause of all our problems is simply a fantasy of the progressive left. They claim to want equality for all, and if they got their way, we would have it. It would just be that we were all equally poor, with only the ruling faction having any control or any money to make changes.
Sound like the American dream to you?
No, I didn’t think so. And my guess is that Britain doesn’t want that kind of life either.