Elder Patriot – “There does not seem to be cause for alarm in the dual relationship of the press to the public, whereby it is on one side a purveyor of information and opinion and on the other side a purely business enterprise. Rather, it is probably that a press, which maintains an intimate touch with the business currents of the nation, is likely to be more reliable than it would be if it were a stranger to these influences. After all, the chief business of the American people is business. They are profoundly concerned with producing, buying, selling, investing and prospering in the world. I am strongly of opinion that the great majority of people will always find these are moving impulses of our life.” – Calvin Coolidge
Clearly, Coolidge never anticipated the election of Barack Obama and his Marxist diatribe meant to convince the American people that “if you own a business you didn’t build it” to buttress the argument for his growing entitlement state.
The running joke while Obama was president were the only growth industries under his tenure was food stamps and welfare. By shifting the impulses Coolidge spoke of, Obama’s policies led to the greatest number of unemployed working age Americans ever.
Making matters worse were the explosion in the numbers of people who ceased looking for work entirely and adopted the previously unacceptable attitude that they were entitled to as many government freebies – welfare, food stamps, housing assistance, cell phones, and medical care – and they began voting for leftist politicians who promised to keep their gravy train going in greater and greater numbers,
The problem with the growing number of “takers” was the diminishing numbers of workers. That put more financial pressure on fewer people to keep the slackers funded. When it got to the point that tax revenues were no longer large enough to cover their bill the government began running up I.O.U.’s with our children – over nine trillion dollars worth of debt. That’s over $100,000 for every American household.
It shouldn’t take an economist to tell you this is a recipe for financial collapse if this situation remains unchanged. But it did take a businessman turned president to address this ludicrous situation.
Clearly weak-kneed politicians are as afraid to address this issue, almost as afraid asthey are to touch the third rail on a subway track. Not so for President Trump.
He waded right in during a rally for tax cuts in Missouri he held last week:
“Then we will have done tax cuts, the biggest in history, health care, phenomenal health care. I know you don’t want this — welfare reform. Does anyone want welfare reform?”
“I’ve talked to people. I know people that work three jobs and they live next to somebody who doesn’t work at all,” the president continued. “And the person who’s not working at all and has no intention of working at all is making more money and doing better than the person that’s working his and her a** off. And it’s not going to happen. Not going to happen.”
Trump understands that restoring distressed properties – and make no mistake the United States is a distressed property – requires money and a plan. Obama spent the money but he had no plan unless that plan was to grow the government until the point at which it would collapse. Obama left us with almost $10 trillion in fresh debt and the Republicans did nothing to stop him.
Trump’s plan is to put people back to work. The centerpiece of Trump’s tax cuts is the reduction in the corporate rate and a lower tax on repatriating the trillions of dollars currently sitting overseas to avoid Obama’s currently confiscatory tax rates.
Those two changes will lead to an explosion in the growth of American businesses, almost like a magic wand. Pardon the dig at Obama. It’s the last one, I promise.
Once the need for workers explodes that increased demand will force wages up making it more attractive for potential workers to leave welfare – either by choice or by coercion. More workers mean more taxpayers and a lower number of slackers lessening the demand for government services. That can only result in deficit reduction and maybe in the first balanced budget in two decades.
Can you imagine, we have a president that actually puts American workers first? It’s been so long that I forgot that this is what winning looks like.