That's a dandy idea. Confiscate a large part of the income of the so-called rich -- you know, the folks who keep businesses going by investing in them, thereby limiting their ability to put money into the economy and making it possible for the firms in which they invest to grow and create new jobs.
Don't expect this Congress to do anything that will really help the economy; for example, extending the Bush tax cuts. After all, that initially limits the amount of money the government can confiscate from the people whose investments keep the economy growing.
Uncle Sam needs that money to pay for all those government programs that ladle out money to the people. That's never called what it is: buying people's votes by giving them money taken from their fellow Americans.
But worry not. Barack Obama's new commission will figure out a way to square the circle by recommending steps the pols would never dare take. And won't.
Michael Reagan
Michael Reagan, the eldest son of Ronald Reagan, is heard daily by over 5 million listeners via his nationally syndicated talk radio program, “The Michael Reagan Show.”