From an article by Ron Kessler, a conservative columnist:
“Six months into his presidency, it’s clear that neither President Obama’s economic plan nor his world peace plan is working. After pushing Congress to pass the $787 billion stimulus, Obama has seen the unemployment rate rise from the 8 percent limit he predicted if the bill passed to 9.5 percent. After apologizing to the world for America’s imagined failings, Obama has seen Iran and North Korea continue their nuclear programs and become even more belligerent than when George Bush was president. Behind Obama’s failure is a blind spot when it comes to understanding that people respond to incentives and disincentives. Looking at Obama’s approach, I am reminded of sitting in the dining room at the National Hotel in Moscow when writing my book “Moscow Station” during the Cold War. Since they were government employees, the waiters milled around and chatted in groups, ignoring my wife Pam and me. Why should they wait on us? They were paid by the Soviet Union regardless and got no tips. Their bosses had the same lack of incentive to do anything. As a result of Obama’s wild spending spree, over the next decade, the public debt will rise from 41 percent of GDP in 2008 to an astounding 82 percent of GDP by 2019, according to the Congressional Budget Office. Hardest hit by tax increases will be the highest-earning Americans, who are often small businesses which file taxes under Schedule C as individuals.”
I suspect that many of these job-creating individuals will soon be moving to Europe. Taxes are high over there too, but their national debt is much lower, so the possibility of a catastrophic economic collapse is far less. Besides, their quality of life is much higher too. What I would like to know is how many Washington politicians already own property over there. That would certainly tell us something, no?
“Six months into his presidency, it’s clear that neither President Obama’s economic plan nor his world peace plan is working. After pushing Congress to pass the $787 billion stimulus, Obama has seen the unemployment rate rise from the 8 percent limit he predicted if the bill passed to 9.5 percent. After apologizing to the world for America’s imagined failings, Obama has seen Iran and North Korea continue their nuclear programs and become even more belligerent than when George Bush was president. Behind Obama’s failure is a blind spot when it comes to understanding that people respond to incentives and disincentives. Looking at Obama’s approach, I am reminded of sitting in the dining room at the National Hotel in Moscow when writing my book “Moscow Station” during the Cold War. Since they were government employees, the waiters milled around and chatted in groups, ignoring my wife Pam and me. Why should they wait on us? They were paid by the Soviet Union regardless and got no tips. Their bosses had the same lack of incentive to do anything. As a result of Obama’s wild spending spree, over the next decade, the public debt will rise from 41 percent of GDP in 2008 to an astounding 82 percent of GDP by 2019, according to the Congressional Budget Office. Hardest hit by tax increases will be the highest-earning Americans, who are often small businesses which file taxes under Schedule C as individuals.”
I suspect that many of these job-creating individuals will soon be moving to Europe. Taxes are high over there too, but their national debt is much lower, so the possibility of a catastrophic economic collapse is far less. Besides, their quality of life is much higher too. What I would like to know is how many Washington politicians already own property over there. That would certainly tell us something, no?
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