On october 15th, republican leader Joseph Lhota and democratic leader Bill de Blasio squared off against each other in the first televised 2013 New York City mayoral debate. In an aritcle published by the “The Ticker”, Baruch’s own newspaper journalist Nicole Clemons covered the broad range of topics discussed by the candidates. Perhaps none more sharply debated then that of the parties disagreement in taxes. While Lhota plans to maintain the cities tax rates De Blasio believes that the city need raise taxes only on the wealthy. Most political experts point to this policy of taxing the wealthy as the reason for De Blasio holding a commanding lead over his opponent. With promises to redistribute the wealth of the successful among us to the average New Yorker, it is no wonder the masses will be running to cast their vote for the democrat. Indeed the “anti wealthy” sentiment which has been growing for years has finally taken to the polls.
In a term coined by the protesters of the occupy wall street movement, De Blasio is championing the cause for the “99%”. While economic fairness sounds morally correct do we really want to structure our society around government entitlements? Or is it wiser to reward individual responsibility, innovation and self-reliance? Will taxing the wealthy treat the source or simply ease the pain of our ailing economy?
In an article published by The Boston Globe during the Occupiers movement in 2011, Columnist Jeff Jacoby had this to say: “From the belief that you don’t have enough because others have too much, it isn’t that great a stretch to the belief that those who have too much should be forced to make do with less. It shouldn’t be surprising when a movement obsessed with what rich capitalists earn rather than with what they produce starts treating other people’s property and persons with contempt”. Clearly the Occupiers have left there mark.
“Thou shall not steal except by majority of vote”. This satirical quote of a modified approach to the 10th commandment illustrates the direction our economy is headed towards. More taxes and more entitlements will lead to a heavier reliance on government which will in turn lead to greater economic inefficiency. With some forty percent of the nation’s population already having reached the stage of governmental dependency the economy simply can not bear the burden much longer. Yet, Bill de Blasio wants to increase taxes on the wealthy.
Are taxes on the wealthy necessary to maintain a supportive economic system for those who need it? Absolutely yes. But, at a certain point we must realize that our strong support system can become counter-productive by causing people to rely heavily on the system while at the same time discouraging work ethic. My advice to the voters of New York who will be casting their vote for Bill de Blasio: If you have faith in him to usher New York and her people into an era of growth and prosperity then by all means vote proudly for your mayor. Just make sure you are not being blinded by the generous gifts from the public treasury he is promising to the masses. We all know a bribe when we see one.
