Then there are the other labor unions. As I have written before (see here and here), a union is an attempt to monopolize the supply of labor. That never works unless you can keep out the "scabs," which consists of everyone else. The union agenda also includes opposition to a lower minimum wage for teenagers (the black youth unemployment rate is 39%), opposition to a bracero program for immigrant labor and support for all kinds of occupational licensing — raising barriers to entry into almost every profession and trade.
Why do you think Barack Obama condemned the Michigan vote to install right to work? Because that weakens unions. But why is that bad? Granted, unions use their dues money to contribute to the election campaigns of Obama and other liberals. But what is the social reason to support unions? There isn't any. Since unions are trying to achieve above-market wages and thus raise prices for everybody (including poor families), and since they can accomplish this goal only by keeping non-union workers from having access to the workplace, what's good for a union is bad for everybody who isn't in the union. And what's bad for a union is good for everybody else.
Bottom line: the first three policies you voted for mean that those on the bottom rung of the income ladder are not going to get a helping hand to get on a higher rung. As far as those with the least income and wealth are concerned, you voted for status quo all the way. And to rub salt in the wound, the very people you voted for will be telling the world at every opportunity how much they care about the poor — even as they do everything to impede their economic mobility!
The second set of policies you voted for adds up to another bottom line: with respect to the nation's fiscal health, you voted again for status quo all the way. There is no mystery about the problem we face. We've promised more than we can afford. According to the Congressional Budget Office, if we continue on the path we are on the federal government will need to collect two-thirds of the income of the middle class and more than 90% of the income of high-income families by mid-century.
Yet, despite the fact that liberal politicians claim we have a revenue problem, not a spending problem, they have been unwilling to even talk about how they plan to collect the revenue needed to pay for every spending program they support. Unwilling to make any fundamental reform to any of our major entitlement spending programs and unwilling to commit to huge tax increases (including a large tax increase for the middle class), they have implicitly endorsed the unthinkable: federal debt escalating forever.
I haven't said anything about health care. That's because when you voted for a liberal politician, it's not clear what you voted for. That's because when Democrats voted for ObamaCare, it's not clear that any of them knew what they were voting for.
I'll save health care for another day.
In Honor of His 103rd Birthday, Here Are The 20 Best Quotes From The Late, Great Milton Friedman | John Hawkins