As Wall Street Journal editor Paul Gigot writes in an introduction to the "2008 Index of Economic Freedom: The Link Between Economic Opportunity and Prosperity" (co-produced by The Heritage Foundation), "The U.S. political debate is moving in a negative direction as Œfairness' and income redistribution replace growth as the policy lodestar and proposals for tax increases proliferate."
Markets do best when government mostly leaves them alone, but Sen. Clinton, who along with her husband has made - and Bill still makes - millions off their notoriety and the selling of his presidency, are set for life, so what do they care? They can pretend to care for "the little guy" even while taking steps that harm everyone but themselves and their rich friends.
Income redistribution is socialism no matter what other label is attached to it. There is a Commandment (the Eighth) against stealing, but when government does it, it is called taxation. The results are the same. The person out of whose pocket the money comes no longer has access to what he has earned and the person (or government) that takes the money often wastes it on things of which the earner would not approve.
The economy is adjusting because of greed, mortgages people couldn't afford and should never have been given and because adjustments are normal in a capitalistic system.
On Oct. 9, 2002, the Dow Jones Industrial Averages closed at 7,286.27. On Oct. 9, 2007 it closed at an all-time high of 14,164.53. Those who were invested in 2002 have made a lot of money. Those who buy now and stay invested will make money. Now is the time for optimism, not meddling by the federal government. What this economy needs is more freedom for the individual and less manipulation by over-taxing, over-spending and over-regulating government.
Cal Thomas is co-author (with Bob Beckel) of the book, "Common Ground: How to Stop the Partisan War That is Destroying America".
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