Lost in the fiscal cliff panic and the New Year’s hangovers and bowl games and family get-togethers last week was a truly remarkable statement that reveals where this president is not only likely to go terribly wrong, but is sure to take the country with him if he continues to get his way.
In the wake of his success in raising taxes in the fiscal cliff deal, President Obama said the nation can’t “simply cut our way to prosperity.”
Yet he acts as if we can tax our way to prosperity. And no one is challenging that tack.
Actually, a good case can be made that we can, indeed, go a long way toward creating the conditions for prosperity by cutting taxes and shrinking government. The more money that is kept in the private economy, the more it can flourish.
The Reagan approach, which was to hold the line on taxes and spending as much as he could while dealing with an entrenched Democratic Congress, actually doubled revenues flowing to the federal government in the 1980s.
But even ignoring that fact, how can Mr. Obama insinuate that higher taxes are part of a formula to increase prosperity? Unless you think that taking money from those who’ve earned it and converting it to the government’s use is somehow “creating” anything.
It certainly doesn’t create prosperity, except in Washington.
The statement betrays a government-centric belief system that is completely at odds with economics and reality.
Mr. President, again, a good case can be made that cutting government spending and lowering taxes would till the ground for future prosperity.
But putting that aside, it’s ludicrous to believe that taxing people creates prosperity!
How can a leader get away with such illogic? On national television, in broad daylight?
Well, for one thing, he’s still personally popular. For another thing, the “mainstream” media hardly ever challenge him. To wit: Famed tough interviewer Barbara Walters recently had the Obamas on a couch and had no inquiries about the state of the country or solutions going forward. She did, however, wonder what the family dog was getting for Christmas.
Where is the serious dialogue about the vital issues America is facing – and which solutions really have a chance of working?
As we’ve noted before, the president seems to have fooled an entire nation into believing that the federal government is the same as the economy. When he claims that cutting government spending can’t create the conditions for prosperity, he’s trying to tell you that infusing the federal government with more money will, instead, somehow create prosperity.
When did the hypnosis occur?
And when will we wake up?