"Spreading the Wealth Around" Will Cause Another Recession?

Carol Platt Liebau | September 23, 2010 5:06 PM

An economist at Goldman Sachs predicts that allowing the Bush tax cuts to expire will be enough to push the economy into recession in the first quarter of next year.

The fact that Democrats would, apparently, prefer a recession to extending tax cuts for the "rich" tells you all you need to know: They'd rather risk continued hardship for all Americans than give up their chance to redistribute Americans' income, keeping a hefty chunk for themselves.

Well, at least we can't say the President didn't warn us about his views on this one. Remember when he told Joe the Plumber, "When you spread the wealth around, it's good for everybody"? He's sure spreading the wealth around . . . but it's not been too good for anybody (besides government workers), has it?