Quick hits April 11, 2012

From Thomas Sowell, in the National Review Online:


"In politics, few talents are as richly rewarded as the ability to convince parasites that they are victims. Welfare states on both sides of the Atlantic have discovered that largesse to losers does not reduce their hostility to society, but only increases it. Far from producing gratitude, generosity is seen as an admission of guilt, and the reparations as inadequate compensations for injustices — leading to worsening behavior by the recipients."


A little harsh, until you recall the recent riots in several cities in Europe when government largesse was pared back, because it was no longer affordable.


From the Wall Street Journal:

"The Buffett rule is really nothing more than a sneaky way for Mr. Obama to justify doubling the capital gains and dividend tax rate to 30% from 15% today. That's the real spread-the-wealth target. The problem is that this is a tax on capital that is needed for firms to grow and hire more workers. Mr. Obama says he wants an investment-led recovery, not one led by consumption, but how will investment be spurred by doubling the tax on it?

The only investment and hiring the Buffett rule is likely to spur will be outside the United States—in China, Germany, India, and other competitors with much more investment-friendly tax regimes. The Buffett rule would give the U.S. the fourth highest capital gains rate among OECD nations, according to a new study by Ernst & Young, to go along with what is now the highest corporate tax rate (a little under 40% for the combined federal and average state rate). That's what happens when politicians pursue fairness over growth."

The follow-on clause to the fairness, redistribute-the-wealth argument that's implied but never actually said is: And when we take it from the rich, "We will give it to others. Why? Because we think so, that's why."

And from NJ Governor Chris Christie, from NJ.com:

"Christie spent most of his 30-minute speech on New Jersey budget issues, but brought up national policy toward the end. He said it is the least optimistic period he’s ever seen for the nation.

"It’s because government’s now telling them, stop dreaming, stop striving, we’ll take care of you. We’re turning into a paternalistic entitlement society. That will not just bankrupt us financially, it will bankrupt us morally," Christie told Bush, Henry Kissinger and an assortment of Republican governors in a theater at the New York Historical Society.

"When the American people no longer believe that this is a place where only their willingness to work hard and to act with honor and integrity and ingenuity determines their success in life, then we’ll have a bunch of people sitting on a couch waiting for their next government check," Christie said."