Can anyone think of a more boring, banal, irrelevant or stale speech
than the one he gave this Thursday in D.C.? The speech was allegedly on
the economy, but more likely it was to divert attention from the
Obamacare catastrophe. Whatever the motive, his idea that the defining
challenge of our time is to reduce income inequality is completely
wrong. In truth, the defining challenge is to restore more rapid
economic growth, create substantially more jobs and significantly reduce
unemployment.
This is the worst recovery in the modern era going back to 1947. But Obama is always more interested in income redistribution than growth. He never speaks the language of growth, such as a rising tide would lift all boats. That’s the basic economic truth of the remarkable prosperity of the ’80s and ’90s, a period during which tax, regulatory, trade and monetary barriers were reduced, and the door opened to innovation, entrepreneurship, capital formation and job creation.
Obama comes from a long line of liberals whose guiding star is the equality of result, i.e., income leveling, rather than the equality of opportunity, which is the heart of free market capitalism. But in reverting back to his obsession with income inequality, he repeats his tired mantra of raising the minimum wage, ending so-called tax loopholes, launching shovel-ready infrastructure projects and ending budget caps and the spending-cut sequester.
http://www.humanevents.com/2013/12/06/the-challenge-is-growth-not-inequality/
This is the worst recovery in the modern era going back to 1947. But Obama is always more interested in income redistribution than growth. He never speaks the language of growth, such as a rising tide would lift all boats. That’s the basic economic truth of the remarkable prosperity of the ’80s and ’90s, a period during which tax, regulatory, trade and monetary barriers were reduced, and the door opened to innovation, entrepreneurship, capital formation and job creation.
Obama comes from a long line of liberals whose guiding star is the equality of result, i.e., income leveling, rather than the equality of opportunity, which is the heart of free market capitalism. But in reverting back to his obsession with income inequality, he repeats his tired mantra of raising the minimum wage, ending so-called tax loopholes, launching shovel-ready infrastructure projects and ending budget caps and the spending-cut sequester.
http://www.humanevents.com/2013/12/06/the-challenge-is-growth-not-inequality/
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