Dec
19
Written by:
exurbanDoug
12/19/2011 11:48 AM
George F. Will does a takedown of Robert Reich on ABC News, watch for yourself.
The key point that Will brings to light is that government is using the tax code to transfer wealth from largely young and productive people to largely old and retired/non-working people. The power of the state is being used in this endeavor and its crushing economic growth. This is similar to what is going on in Western Europe and Japan, the result is anemic economic growth.
Those on the Left will argue that government needs to get more involved in people's lives to address the "inequality" and "unfairness" that currently exists. However, the current situation we find our country in is largely because government at all levels is excessively involved in people's affairs. As George Will points out, those who have the money (the old and wealthy) will use their economic power to perpetuate their position. They vote and they don't want the gravy train to stop.
We find ourselves indebted and stuck in economic neutral because all the interference and solutions of the Progressive Era make problems worse. More government involvement leads to higher barriers to innovation and competition in the marketplace, where resources can be most efficiently allocated. The solutions and thinking that Robert Reich offers have been the default behavior of the last eighty years, look at where it has taken us.
The good news is that the message being sent by Will is resonating with more people as these truths become evident. Big Government is a problem and its limits are being reached. This will result in a lot of pain and a great deal of anguish amongst liberal pundits as their ideas are shown to be as bankrupt as the economy. The opportunity to recalibrate the relationship between government and the citizens is coming and I for one look forward to it.
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