Here's the fundamental equation of Obamath: OM (/$=+$) The basic principle behind Obamath is that we can improve the lives of Americans by forcibly redistributing their wealth. Taxing one person (or borrowing from their future taxes) and handing cash to someone else (in the form of health care, car rebates, etc.) will somehow add value to the economy, or organize it more efficiently than the free market. That's the theory, at least. The problem is that it can't work. |
It won't work. It hasn't. The old Soviet model of command-and-control economics collasped, and Obamath will too, if his ideas are implemented over the long haul. Because for all the redistributing, there is no more production. Wealth is not created by government. There is nothing in Obamath that adds real "wealth" to the economy - in fact, when you take something from producers and give it to non-producers, you reduce the incentive for either to be productive.
Producers: "Why bother working so hard when you are going to take my wealth away?"
Non-producers: "Why bother working hard when you are going to hand me what I need for free?"
The long run: less wealth, less prosperity, less dignity, and less freedom for Americans.
"You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is the beginning of the end of any nation. You cannot multiply wealth by dividing it." - Adrian Rogers
Here's the honest equation: OM (/$=-$) For you, and for future generations.
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