Democrats want bigger government, and obviously to support that you'd require more taxes. How else can government fund nationalized healthcare? How else can government give credit for college education?
These points seem lost to Harold Meyerson of the Washington Post, who writes:
...the Reagan-Thatcher faith in unregulated capitalism, to which every GOP presidential candidate was pledging allegiance just last winter, has collapsed? The doctrine of laissez faire has been so dominant, so pervasive over the past three decades that hundreds of Democratic politicians can deliver a paean to the market at the drop of a hat, but not a single Republican pol can plausibly defend government as a check on capitalism run amok, even at the drop of thousands of points in the Dow.The truth is that laissez faire works. The credit crisis that's going on occurred because of government intervention in the first place! The government interfered with free market principles by passing legislation which created a subprime mortgage market. Any bank in its right mind would never offer loans to people who cannot afford to pay back. Yet the government forced banks to lend to subprime borrowers, then created Fannie and Freddie to back those loans, and look what happened...
The issue is beyond nationalizing banks and injecting trillions into the economy. Mr. Meyerson fails to point out that government was the problem, and now government still is the problem.
Posts
