Readers’ forum: “It’s not a race!” Why competition is valuable

So many aspects of our lives are affected by competition. It’s a motivator that drives success and value, and it’s especially true when it comes to our economy. This motivating effect is one of the main reasons why the United States has for years been one of the most economically powerful countries in the world.

With President Biden’s recent announcement of a tax plan that would increase federal corporate income tax rates from 21% to 28%, it is important to consider how this decision may affect us as a country. in terms of competitiveness whether it is implemented and why it is important.

In my own life, competitions ranging from mountain bike races to college applications have stretched me and helped me reach greater potential because they made me recognize my shortcomings and motivated me to improve. . Competition helps us become the best we can be.

But if we don’t care about our performance or where we stand in relation to others, as Elder M. Russell Ballard said, “We can reach old age and look back on our lives and realize that we only reached a small part of our potential.

For example, I recently attended my brother’s elementary school amusement race where an announcer said, “It’s not a race! Predictably, when the students realized that it didn’t matter how hard they tried, they all slowed down and walked. It was disappointing to see my brother and his friends, who at first were so dizzy and excited to run and stretch, suddenly become so apathetic towards this unsatisfying exercise. Competition is what drives both individuals and economies.

Biden’s tax plan seems to overlook issues of competitiveness. If implemented and the corporate tax rate reduced from 21% to 28%, excluding state taxes, companies would be more likely to move their headquarters to other countries where taxes are lower. students. Americans would lose jobs and the government would not collect funds from these companies as planned. Corporations would simply take their business elsewhere.

One of the reasons this tax plan sounds appealing to some is that it promises to “make the rich pay their fair share” while lowering taxes and increasing benefits for the lower class. But a key problem with the further expansion of progressive tax systems is that they eliminate competition by seeking to ensure that everyone is as equal as possible.

This philosophy of “stealing from the rich and giving to the poor” is noble on the face of it. The image of Robin Hood probably comes to mind. But when we consider that we all have an opportunity – or at least we should, especially in this country – to improve ourselves and our lives, then tax and take from those who have worked so hard to overcome the challenges and get there where they are is like stealing from the American dream.

The best thing we can do is strive to work hard and take responsibility for our lives rather than blaming others for our situation, even if sometimes others are partially responsible. By doing so, we will be able to overcome the obstacles in our path and become more aware of the opportunities that are already in front of us.

If we take control of our own lives and seek to create equal opportunity for success for all, our united progress will help us reach our highest potential as individuals and as a united nation.

–Mason Lewis

Draper, Utah