Came across an article this morning by Iain Murray, who heads the Center for Economic Freedom at the Competitive Enterprise Institute. He's also author of a new book “Stealing You Blind: How Government Fat Cats Are Getting Rich Off of You”
Murray quotes Britain's "Iron Lady," Margaret Thatcher, who said that any housewife could manage the British economy. And, I think that makes absolute sense. Because anyone responsible for a budget knows it's foolhardy and risky to spend more than you take in.
The author also states that when it comes to justification for tax increases, our president’s ignorance of basic economics shows through even more. Because O'bama's said that tax increases would stop him personally from keeping hundreds of thousands of dollars that he doesn’t need. Which leads the author to conclude that "now we know what the president does with his book money – he throws it on a pile, like Tolkien’s dragon Smaug."
However, the author says, that’s not what wealth creators do. They either spend that “excess” money, providing jobs for people who make or import the things they spend it on, or invest it, thereby creating more jobs and more wealth which they can reinvest.
And so, the beat goes on. Where with each passing day the proofs pile higher and higher that we're foundering in a situation caused by governmental inexperience, misguided beliefs and huge fundamental flaws. However, as I keep saying in my writings lately, more and more of the population's waking up which means new folks elected to office while some of the nation's wealth's still left.
That's it for today folks.
Adios
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