This would describe the left’s infatuation with Keynesian economics, which has proved to be a failure right up to and including Mr. Obama’s homage to it. Easing tax burdens and creating less restriction by government bureaucracy, have proven otherwise. It lifted us from the 1920 depression in short order (far bigger one than 1929), lifted us when Ronald Reagan reduced taxes and yes, lifted us for a solid six years when George Bush also did it. Now, please, don’t right away jump in and tell me how he caused the recession, as that was due to “Manny, Mo and Jack”, the Schlep Boys (Dodd, Frank, Obama) who bullied the banks into making loans that no sane person would have made.
The latest proof, that capitalism and low taxation and regulation works is in the U.K. Businesses that have left the U.K. for Ireland due to repressive taxation and regulation and who are now considering returning due to the government in the U.K. loosening up on the tax and regulation reigns. In a free society government cannot always impose its will. It can regulate and sometimes these regulations protect us and other times actually harm us due to the “laws of unintended consequences”. Excessive taxation and unnecessary (not reasonable legislation to protect us from severe harm) has driven business to tighten and in many instances flee the states that do they are in, such as California, where many businesses have fled, due to high taxation and regulation.
Life in general has proven that it is not just unjust, but unworkable to enforce government or otherwise’ will with only the “stick”. In a free society the only workable solution is the “carrot and stick” technique with the heavier hand wielding the carrot. With the carrot approach, government, by the very nature of living in a free society, must “incentivize business” so as not to flee one state for another or to tighten their expenditures and hiring, but to loosen their purse strings and invest in their community so all benefit. I don’t care how much the government regulates, it is big business and the wealthy that have the money and we either incentivize them to share it or simply confisticate it and redistribute the wealth as Mr. Obama would like. This of course would take us down the path to a very different style of government and economic model: Socialism, best described as “Doing the same thing over and over again and expecting different results.”
Mr. Obama just declined to allow corporations to bring much needed money earned out of the country back home. Money that would help stimulate our economy. See what the Brits are doing and proving in today’s Wall Street Journal Article: