Michael Bloomberg: Higher Taxes on the Poor are a “Good Thing”

Billionaire Democratic Presidential Primary hopeful Michael Bloomberg as early as last year believed taxing working-class Americans at a higher rate was “a good thing” because it allowed the government to control their behavior and encourage desirable life choices.

In an April 2018 interview at the International Monetary Fund, a global NGO tasked with ensuring economic stability worldwide, Bloomberg was asked by Christine Lagarde, who at the time was the managing director of the IMF, a question regarding regressive tax rates – higher tax rates for higher levels of income.

Bloomberg told the audience, “some people say, well, taxes are regressive. But in this case, yes they are. That’s the good thing about them because the problem is in people that don’t have a lot of money.” He added, “higher taxes should have a bigger impact on their behavior and how they deal with themselves.”

Bloomberg, who is currently self-funding his presidential campaign utilizing the wealth he earned while amassing a $54 billion fortune, believes the government should use its power – in this case, taxation – to control and shape the behavior of lower-class Americans.

Justifying this, Bloomberg says, “we want the poor to live longer so that they can get an education and enjoy life. And that’s why you do want to [tax the poor].” Taxation and control is a method of encouraging better choices. This is commoning from the NYC mayor who banned soda over 16 oz throughout the Big Apple. He cites this as an example of taxing with a purpose. He also donated $160 million to ban flavored e-cigarettes, a low-risk alternative to deadly tobacco.

2018 Bloomberg gives the people an ultimatum, “taxes or life.” Dismantling the military because “we don’t want to go start a war just to give [soldiers] something to do,” and we should tax coal mines to death because of pollution.

Managing Director Lagarde summarised Bloomberg’s points saying, “so it’s regressive, it is good.” To which the billionaire added, “that’s correct. That is exactly right. Well said.”

Bloomberg’s previous statements, which he had not retracted, provide key insight into the mind of the modern democratic party, which is using similar tactics to control the decisions made by everyday Americans. From healthcare to food choices, and now under the guise of the Green New Deal, practically every personal decision is under the scrutiny of the state.

Categories: U.S. News

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