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Michael Bloomberg Defends Regressive Taxes

Michael Bloomberg Defends Regressive Taxes

The minute Michael Bloomberg announced his presidential bid in November, critics and rivals began scouring the Internet for anything controversial he ever said or did.

One of the first things they found was his opinion on regressive taxes: they benefit the poor by forcing them to make healthier decisions.

A regressive tax is a tax that takes a larger percentage of income from people who earn less. It is the opposite of a progressive tax, which pulls in a larger percentage from people who earn more. In this case, Bloomberg is talking about taxes on sugary drinks and cigarettes:

“That’s the good thing about them because the problem is in people who don’t have a lot of money. And so higher taxes should have a bigger impact on their behavior and how they deal with themselves,” said Bloomberg last year at the International Monetary Fund’s 2018 spring meeting.

“I listen to people saying, ‘Oh, we don’t want to tax the poor.’ Well, 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 do exactly what a lot of people say you don’t want to do,” he continued. “The question is do you want to pander to those people or do you want them to live longer?”

When Bloomberg was Mayor of New York City, he unsuccessfully tried to ban large-size sodas like 7-Eleven’s Big Gulp. He argued the ban would protect poor people from gaining weight and claimed that not raising taxes on unhealthy behavior would be like using coal just to keep coal miners employed.

“There is just no question. If you raise taxes on full sugary drinks, for example, they will drink less and there is just no question that full sugary drinks are one of the major contributors to obesity and obesity is one of the major contributors to heart disease and cancer and a variety of other things,” said Bloomberg, whose net worth is nearly $55 billion.

Voters in New York City rejected the proposal, saying Bloomberg had no business controlling what they ate or drank. Voters who learned of Bloomberg’s opinion this month on Twitter described him as an “elitist” and “wannabe dictator.”

Author’s Note: I personally agree with Bloomberg on this one, but I wouldn’t be surprised if he reverses his stance on regressive taxes to win votes.

Last month, speaking at an African American church in Brooklyn, Bloomberg apologized for the stop-and-frisk policy he implemented to reduce the murder rate in New York City by 50%.

“I got something important really wrong,” said Bloomberg. “I didn’t understand that back then – the full impact that stops were having on the black and Latino community…I want you to know that I realize back then I was wrong. And I am sorry.”

This apology is out of line with Bloomberg’s reputation as a leader who does what he thinks is right and defends the results. We can expect voters to call him out on his change of heart.

Editor’s note: So Bloomberg apologizes when he is called racist, but not for violating the 4th Amendment.  Bloomberg will have a lot to answer for as his policies come to light. Even when he has something right, he will find himself apologizing. And of course, his politically correct constituents will reinforce some his worst policies.

Bloomberg should know from Trump’s experience, that you stick to your principles and double down when necessary.  Now that he has started pandering, Bloomberg is toast…

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8 Comments

  1. Daniel Mount

    Bloomberg is another Adolf Hitler. If this evil scumbag gets in the White House or if any of these evil Democrats get in the White House it will be like Hell on earth for all Christians.

    Reply
  2. Michael Morgan

    Thi is the problem in a nutshell. All taxes affect the poor nay, they affect the working poor, the marginally poor, the middle income, , and rich alike. Taxes in any for are simply a ”Control Mechanism” and should not exist for that reason. These politicians want to control us just as any tyrant or aristocracy doest. They want us to be their subjects, not our employees which is what the Founding Fathers wanted. This ass thinks he is going to help the poor by taking away the small joys they may have in their lives. Whether or not you or I drink sugary drinks or smoke( ick), or anything else with our own earnings, it is not their ”job” to try to modify our behavior except by education by informing s about what is bad but it is OUR Right to make the decision about what we do.

    Reply
  3. Marc

    HOW DO YOU THINK HE BECAME A “BILLIONAIRE?” BY “STEALING” THE AMERICAN PEOPLE’S “HARD-EARNED” MONEY!!

    Reply
  4. Knock Knock

    Every smoker knows that smoking is bad for them. It quickly stops being a choice and instead becomes an addiction, and to tax that is just plain cruel. Tax is not big enough to sway a decision so it’s just needling at the poor – a cruelty on top of a vice on top of a disenfranchised situation. Cruel.

    Reply
  5. Derek Blurb

    Another opportunist looking for more power, payola and privileges. Politicians got into the racket because they loooooove their people… Er, I mean, voters, voters.

    Reply
  6. Connie

    Wait a minute…..if I don’t want “You” to kill your baby “You” scream, “Don’t tell me what I can or cannot do with “My” body!” However, if I want to put a carbonated beverage in my body or put nicotine in my lungs, “You” are going to pay for what “You” do to your body with the taxes I have to pay for what I do to my body??? I’ll agree to that IF you will include EVERYTHING that can harm one’s body including alcohol, drugs, and tanning beds.. Oh, don’t forget to put exorbitant taxes on airfare and gasoline. Well, helll….why bother taxing me, I’ll just have my paycheck sent to “You”!!!

    Reply
  7. DJParker

    Just what we need, a rich POS pushing us around. The guy has no idea what his methods do to people. He is a JEW and is so F’ing aloof that he doesn’t realize that what he wants to do is akin to what Hitler did to the Jews 90 years ago. Rich and disjointed!

    Reply
  8. Paulie

    Uberdouch!

    Reply

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