2008-10-31 | Filed Under SteveG's Posts |
There was a letter to the editor in the Worcester Telegram & Gazette that stated
What Sen. Barack Obama is advocating, “spreading the wealth around,” is simply socialism at its core.
Juan, who commented on this letter, decried Obama’s use of Juan’s tax money for non-free market spending by the government. I wrote the following response to Juan.
Do you pay more taxes than Barack Obama? He probably has more skin in this game than you do.
We the people of the United States have banded together to have a government do the things that we cannot do as individuals.
In these troublesome financial times, most of the wise individuals are slowing spending and trying to increase savings to try to protect themselves from unknowable possible future events. When everyone slows spending, this has very bad consequences for employment and the future of the economy. However, each individual is acting in his or her own best interest. Few people have the wherewithal to take the chance that their assets can withstand any possible future debacle.
However, acting together through our federal government, we do have enough wherewithal to be fairly sure we can weather this storm. The rest of the world seems to think so too as money flows to the safe haven of the United States Treasury bonds and notes.
Acting as a group, we can afford to offset the financial pull back that most individuals must undertake. Increased spending on infrastructure by the federal government will be one of the things that pulls the economy out of the slump.
That is, unless John McCain gets elected. He is promising to cut government spending in the middle of a recession. The last time this was tried we ended up in the great depression.