Arthur Laffer: The Soak-the-Rich Catch-22 - WSJ.com

TRYING TO HELP, BUT TALKING TO A BRICK WALL: Arthur Laffer: The Soak-the-Rich Catch-22 - WSJ.com: "- Sent using Google Toolbar"

Such an ongoing stream of reasonable and, one might say insightful, but it is so bloody obvious that to say 'insightful' is to pander to the acceptance of the stupidity of those who think people don't work for themselves.

What comes to mind when one thinks of the Obama, et. al. economic policy is the analogy of a family that spends everything they make and then, because they want more, they go out and steal it (or tax it) so they don't have to fore go anything.

It's clear the majority of the country feels the downward pressure of the heavy hand of the Democratic government. The real concern is whether the Republicans would have the guts to start cutting back on all of the entitlements.

As all Americans know, it's hard to live without a credit card or some room left on a credit card. The US has overdrawn its credit card and clearly the Democrats are hoping they can keep finding new credit.

As the economist Robert Reich was quoted all this past weekend on Bloomberg, he argues the government should be giving money to state and local governments so they can avoid major layoffs. He never questions whether government salaries should see major cutbacks to bring them in line with what they were before the explosion of public employee union power; nor does he challenge the benefits public employee retirees are getting by taking tax money out of the hands of citizens that is holding back the economy.

Some people are part of the solution (Laffer) and some are part of the problem (Reich).

So, the question is does anyone think post-November the government will be able to cut back entitlements, unions - basically, the whole liberal agenda? (Clearly Gross at PIMCO is concerned about a much longer economic downturn and deflation.)