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Obama: Tax The Rich   June 8th, 2009
Yep, here it comes...       

 
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We all knew it was coming, and the rumblings have started... TAX THE RICH! The Democrat solution to everything. After all, there IS a free lunch!

President Barack Obama wants Congress to consider taxing the wealthy instead of workers to pay for a health-care overhaul, as House Democrats discuss a plan to require health insurance for most Americans...

The president is trying to avoid broad-based levies such as a Senate proposal to tax some employer-provided health benefits Axelrod said. Instead he is urging lawmakers to reconsider limiting all tax deductions for Americans in the highest tax brackets.


The truth is, there is no such thing as a free lunch. The Democrat stimulus plan--a good example of a supposed "free lunch"--is right on the verge of killing any recovery in the housing market. The printing of money by the Federal Reserve--another example of a "free lunch"--is about to drive up inflation and interest rates.

Now it looks like, surprise, we don't have enough money for Obama's health care reform--which is interesting since wasn't the plan supposed to save money? But I digress... We don't have enough money to fund Obama's money-saving health plan so the solution? Free health care for everyone, no-one has to pay. Except the rich.

What a great plan. Why didn't anyone ever think of this before?

The reason is because increasing taxes reduces economic growth and employment. So just as we're looking to try to stage an economic recovery, the Democrats are suggesting that we socialize the health care industry by reducing economic growth and increasing unemployment.

THERE IS NO SUCH THING AS A FREE LUNCH. Everything has a price. Even if only the rich pay a higher tax, we all pay for it through less economic growth that reduces everyone's opportunity for higher incomes, and through higher unemployment.

I hope everyone likes their "free" health care. Because a lot of people are going to be paying for it with their jobs.

Update 6/9/2009: Please read a second article on the topic of Obama needing to raise taxes... and not just on the rich.


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