Greg Mankiw always offers a level headed analysis on economic issues. It’s probably a prerequisite for every non-liberal who wants to work at Harvard. It seems the supporters of ObamaCare have put aside all the negative aspects of the bill and have a adopted the lies from the White House and Congress.
The other group is kind of like The Economist. The UK-based news magazine has really lost touch with logic lately. Their argument in favor of ObamaCare is as weak as it is logical. The basic argument is that any bill is better than no bill at all. This is a news magazine that calls itself The Economist?
What’s odd is that when President Bush tried to tackle reforming Social Security no one adopted the “let’s pass something” approach. The Republicans abandoned reform because they feared political backlash. The Democrats are philosophically opposed to fixing any entitlement. It’s in the DNA of the Democratic party to expand and break as many entitlement programs as possible.
Notice that no Republican advocates a serious reform of Medicare. The Democrats are the welfare party, and the Republicans are simply the caretakers of the welfare state. While the left longingly gazes at their Obama posters the President has never said how he’s going to pay for all these goodies. That’s Greg Mankiw’s point.
The Obama administration’s political philosophy is more egalitarian and more communitarian than mine. Their spending programs require much higher taxes than we have now and, indeed, much higher taxes than they have had the temerity to propose. Here is the question I have been wondering about: How long can the President wait before he comes clean with the American people and explains how high taxes needs to rise to pay for his vision of government?
I’ll go one step further because the Republicans aren’t prepared for the serious challenges ahead. The taxes needed to pay for all these programs will have to be enormous. The GOP doesn’t have the guts to tackle the problem. Taxing the rich isn’t going to pay for it all. If people are concerned about the economy right now, just wait until the VAT tax starts.
I’m not sure Obama even cares. Perhaps he just wants to be the guy who gave the U.S. health care. Obama will let some other administration clean up the wreckage. Hey, Lyndon Johnson is still considered a great president and he only got us mired in Vietnam, started the welfare state, and gave us Medicare.
It seems liberals are determined to turn the U.S. into one big giant pyramid scheme. This might last five, fifteen, or twenty-five years, but eventually the whole house of card falls. Progressives love to tell sob stories about the disadvantaged. What about the working man whose paycheck is being siphoned away? Who is helping the forgotten man and how are we going to afford this when he’s out of job?