Obama made another speech yesterday in which he claimed, not for the first time, that extending the Bush tax cuts for the "wealthy" would "cost" $700 billion over ten years. And according to Obama, we cannot afford that "cost".
By his logic, every dollar a taxpayer gets to keep is a "cost". If someone makes $100,000 per year and pays, say, $30,000 in federal income taxes, the "cost" to the government is obviously $70,000 in Obamaland. The total "cost" of all those dollars not paid in taxes must be truly staggering.
Obama's comments betray the typical liberal attitude toward fiscal policy. In their view, all the money earned by everyone actually belongs to the government. In their beneficence, they allow wage earners to keep some of it, even though the government must incur tremendous "costs" to do so. I suppose taxpayers should fall to their knees and express tearful gratitude for any scraps their betters deign to give them.
In a perfect liberal world, all money would be turned over to them, to be spent as they see fit. We would all be serfs, but at least the government would have no more "costs".
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