Quote:In a recent commentary, Simon Black points out that France’s King Louis XVI nearly bankrupted France in 1783 with his support of the 13 Colonies in their Revolutionary War against King George III. The royal treasure Louis XVI spent supporting America in our insurrection against the British Crown equaled five years of France’s annual revenues, or about $1 billion livres.

Fast forward about 240 years, and you have another situation where the head of a nation is bankrupting his nation, as Black points out, by supporting a war between two independent countries; this time, it’s President Biden shoveling more than $60 billion to Ukraine, even as he and his insufferable Democrats vote to spend $80 billion hiring 87,000 new IRS agents.

Everybody knows that at the top of the list of concerns of the American people, ahead of inflation, recession, and loss of freedoms resulting from the politician’s overreaction to a virus, is the lack of IRS agents in the country to harass us in our kitchens and small businesses.

Biden and his political comrades in Congress are spending $80 billion to hire an army of income tax stormtroopers, 87,000 to be exact, to help “close” what only politicians call the “tax gap.” For those unfamiliar with the term, the tax gap is the difference between the amount of taxes the government collects and the amount it thinks it should collect.

They just don’t learn, do they? Or perhaps Reagan said it best: There they go again. The most destructive thing you can do to the economy is to impose even more confiscatory taxation on hard-working Americans struggling to survive financially.

These Democrats, these people, these bad people, clearly weren’t content shutting down the American economy, putting millions of individual taxpayers out of work, and then sending them an individual check for what was a trivial amount, but, when added up between all recipients, totaling trillions of dollars.

The best way, the right way, the sensible and decent and far more compassionate way, to increase tax revenues to the Federal Treasury is to grow the U.S. economy. And you don’t accomplish this by auditing the American people. You do it by eliminating the regulatory hurdles and other obstacles to economic growth.

Economic growth is achieved by lowering the cost of doing business, including the cost of labor, capital, and equipment, as well as the cost of credit. Our government masters are doing exactly the opposite of these things.

Indeed, the laughably mistitled “Inflation Reduction Act,” with its massive spending on green and red tape initiatives and tax increases on the most productive and profitable corporations in the world, does the opposite of all of the things Reagan, Clinton, and even Trump did to get the U.S. economy moving again.

We all know what JFK and Reagan did; they broke the back of inflation, made the U.S. dollar as good as Gold, lowered marginal income tax rates across the board, and effectively won the Cold War without firing a shot.

To his credit, Clinton also pursued a sound money policy, reformed welfare, and cut the capital gains tax, unleashing economic prosperity in the country not seen since, well, JFK and Reagan. There’s no substitute for intelligence and wisdom.

Presidents Kennedy, Reagan, Clinton, and Trump were intelligent about how to create economic prosperity. King Louis XVI was wise in his decision to back the new world against an old, tired, tyrannical, and corrupt world.

Joe Biden is neither intelligent nor wise. And soon, the American people will rue the day they hired him to, it turns out, help destroy the greatest nation, and most productive economy on Earth. Alas.