Obamanation wants to spend close to 1 trillion, which there’s no way he can get by tax cuts but by only massive tax hikes. Even if you don’t believe that number nor that he won’t raise taxes, the “Joe the Plumber” question was a perfect one that illustrates NObama’s hair-brained socialist agenda of that “it’s not that I want to punish your success, but I want to make sure the guys behind you have an equal chance at success.” Baloney–that’s the same pop-psychology self-esteem movement that started in American Deducation in the early 1990s, something Thomas Sowell documents only about 100 ways in his book “Inside American Education.” The moral is when you change the motivational factors to external (rewarding someone without hard work) from internal (having succeeded by hard work because one understands that is best just for the satisfaction of knowing one did well by applying oneself), you’ll get growing #'s of spoiled people that look only for handouts. Actually, the nation is at least in significant part already there–sadly! Look at 2005 with Hurricane Katrina, where a mayor was so dumb he couldn’t and wouldn’t mobilize the buses and city resources he had, because he expected someone else to do it for him. Then the press camped out down there and made it look like a tragedy that was in no way preventable when the largest part of it was preventable starting with proper city and state government oversight. So while there are some that could not help themselves, there are far more that could have but yet wanted the government to do it for them. Flash forward to 2008: you had massive housing, infrastructure and other services obliterated by Hurricane Ike on the Texas Coast, most notably from Beaumont, south to entire region surrounding the Bolivar peninsula and including large chunks of Galveston. And what’s the message of the residents to the press: “get out of here so I CAN CLEAN UP THIS MESS AND HELP MY NEIGHBORS!!”–NOT that “oh wow, I need FEMA in here right now and the Fed gov’t to do all this for me and fix this.” To boot, there’s not even ANY press down there covering the damage ad nauseum no later than maybe 7 days after. There’s a world of difference in the two attitudes.
Regarding laissez-faire: there’s still nothing wrong with the idea and it’s still what the Founding Fathers would have espoused today. The reason why it failed is not because of the system but because of the significant loss of morality by the people–especially those running Fannie Mae and other financial institutions that instead of doing their job to SERVE THE PEOPLE, they thought only of serving THEMSELVES. If you’re looking out for other people’s best interests and understand that is your JOB, then that would have eliminated all these derivative schemes, reselling the mortagages and repackaging them into supposedly ‘high yield A-AAA investment grade bonds’ when they only made them fancy JUNK bonds. George Washington, Thomas Jefferson, Benjamin Franklin and especially Abraham Lincoln all could have been paraphrased as saying “NO nation can long endure without morality as its centerpiece”: they recognized once that’s gone or largely gone, no system can ‘legislate’ nor force people to think, choose and do the right thing. That is the failing here, is the failing of people to choose to do the proper thing on a large scale. It is the same phenomenon that accounted for the fall of the Roman Empire: when the people thought mostly of their republic and how to benefit it and to help make it prosper, it did so; when the people began started and thinking only in their self-interest, everything started to fall apart–just like has happened here in the U.S. As Abraham Lincoln prophetically said, “No enemy from abroad will be able to destroy us, nor even take a drink from the Mississippi…if destruction be our lot, WE shall be the authors and finishers of it.”
Spreading the wealth is clearly Marxist and has never worked anywhere. Some could argue Cuba has done a lot with few resources, such as having one of the highest literacy rates around…but that’s it. Food is scarce, supplies are scarce, health treatment for the regular folk is barely there…this has been bourne out in multiple documentaries + documentary style movies like “Lo que dejÃ© en la Habana” and “Memorias del subdesarrollo.” Little production, little progress and nothing of note has come out of it. “Spreading the wealth” by putting a knee to the neck of small business (universally acknowledged as supremely vital to job creation) though higher taxes will only force them to cut back and seriously cut hiring. The U.S. has been in a recession strictly based on the job loss data (over 8 months of job cuts) and one of the ways to help promote growth is cutting taxes and making sure hard work is rewarded. There will also have to be a lot of new regulations to limit the damage self-serving, large institutions can do, something that Bush did try to do by sending Snow to the appropriate Congressional committee twice in 2004 and once by sending Greenspan to testify about the serious need of regulating the GSC’s (Fannie Mae and Freddie Mac) in 2005. Once a bill was started in that committee to do precisely that, BUT it was voted down by the larger majority of Democrats, with all the Republicans there approving it. McCain even sponsored a similar kind of bill to do the exact same thing in 2006, but it was also killed in its early stages. So this time, some kind of significant regulation will have to also occur, since sadly it’s been proven the vast majority of the likes of those formerly at Bear Sterns and Lehman Bros. can’t be trusted with even $1.
Does the McCain/Palin ticket have all the answers? No…but at least they have got it right on cutting taxes and keeping the incentives there for the nation to have a chance at recovering. “Spreading the wealth” will only serve to bankrupt the U.S.