Saturday, April 3, 2010

Killing the American Dream

The Weekly Standard discerns a distinct hostility in the Obama administration toward business, wealth and achievement:

This animus toward accomplishment is producing significant political consequences. The February issue of Trends Magazine included an article titled, "The War on Achievement and its Building Backlash."

"For 250 years, America has been known throughout the world as the place where anyone could work hard, scrape together a little money and invest in a great idea," the Trends writers observe. "But a creeping kind of governmental interference has seriously threatened this ideal," they argue. In other words, the Trends writers continue, "the very bedrock concept underlying what's typically called 'the American Dream' is threatened by these measures."

Some specific pillars in the anti-achievement platform appear popular when polled - like raising taxes on the wealthy. Yet that's because higher taxes on the wealthy is never linked with any costs for the middle class in these surveys. Once voters understand there is a point at which taxing the rich or other perks produces negative economic consequences, the poll numbers would shift dramatically. Just ask the cocktail waitress in Vegas how Obama's tax and bonus rhetoric affects her economic prospects.

Rather than protecting the middle class, Obama's policies threaten their long-term ambitions through piling up unprecedented levels of debt justified by scorekeeping gimmicks. The president and his staff argued the health bill would reduce the deficit over the first ten years. But that's only because it includes ten years of taxes and spending cuts but only six years of benefits. Has Bernie Madoff become the Democrats' bookkeeper?

There's more at the link. Thanks to Jason for passing it along.

Actually the situation is even more dire than this article suggests. Keep checking back for more articles on the coming day of fiscal reckoning with which our government has put us on a collison course. We have to wonder why they're doing this. What is their justification for burying our children under mountains of debt?

All we get from the President are assurances that we've "turned the corner" on the recession even as his policies virtually guarantee that any recovery is going to be very short-lived. It's all very troubling.

RLC