Thomas Sowell

If you are a nurse or mechanic who will be depending on your pension to take care of you when you retire-- as Social Security is unlikely to do-- you may not think of yourself as one of the privileged. But unless you connect the dots between capital gains tax rates and your retirement income, you may fall under the spell of the well-honed Obama rhetoric.

Obama is for higher minimum wage rates. Does anyone care what actually happens in countries with higher minimum wage rates? Of course not.

Economists may point to studies done in countries around the world, showing that higher minimum wage rates usually mean higher unemployment rates among lower skilled and less experienced workers.

That's their problem. A politician's problem is how to look like he is for "the poor" and against those who are "exploiting" them. The facts are irrelevant to maintaining that political image.

Nowhere do facts matter less than in foreign policy issues. Nothing is more popular than the notion that you can deal with dangers from other nations by talking with their leaders.

British Prime Minister Neville Chamberlain became enormously popular in the 1930s by sitting down and talking with Hitler, and announcing that their agreement had produced "peace in our time"-- just one year before the most catastrophic war in history began.

Senator Obama may gain similar popularity by advocating similar policies today-- and his political popularity is what it's all about. The consequences for the country come later.


Thomas Sowell

Thomas Sowell is a senior fellow at the Hoover Institute and author of The Housing Boom and Bust.

Creators Syndicate



TOWNHALL MEDIA GROUP