It's crunch time in the political arena. The President's slogan this time appears to be "Forward." I hear him daily admonishing us that we can't go backward. Nice words but I wonder what they mean. I understand that the bottom line here is "Please vote for me." I get that, that's a normal thing.
The economic plan brought to us by Mr. Obama seems rooted in income redistribution and an abstract subjective concept he calls "Fairness." While some form of income redistribution is arguably a good way to share a nation's economic good fortune with all citizens, it has never been a national economy builder. A nation grows economically through the creation of wealth. Redistribution by it's very name is a zero sum game. It builds no wealth but spreads what wealth is available. If there's not enough frosting to cover the cake you need more frosting not more passes by the knife. Further some of what's available gets stuck to the knife and is wasted. Up to 40% of the "frosting" is wasted by governmental overhead and serves no purpose other than to cement political power.
Fairness. Who defines this? Washington? A benign dictatorship? Point to one successful benign dictator nation. Rather than "Fair" we need to consider "Just." We have a Constitution and a series of courts to help us understand the latter concept.
In the primary debates Ms. Clinton said if elected she would work to reduce Capital Gains Tax. The Big O couldn't wait to distance himself from that idea and said he would raise them. The ABC debate moderator pointed out that every time capital gains taxes are reduced more money flows to the government and every time they are raised less money flows to government. As this money is generated by taxes on increased business activity it's also good for the economy as a whole. Less money to government means less to spend on various projects, less to spend helping those in need of help. He then asked if Obama might wish to reconsider his answer. Obama looked to me like this was a surprise to him and doubled down that even so, he would raise these taxes because it would be "more fair." Huh? Fair to whom?
Now. Can't go backward. The new plan doesn't work, if it has never ever worked anywhere at any time. The old plan has allowed us to build a nation unique in history.
Not only can we go back, we must. Run. Don't walk. Take a fast motorcycle, a jet plane, a man sized slingshot...
Let's get serious.
