Sunday, April 17, 2011

Speaking the Truth to Idiots

I pity Obama. He made a point that needed to be made, but there was no way he could win. His phraseology, "reduce spending in the tax code," has been roundly mocked, not least of which was Jon Stewart's awesome line, "Can we afford that AND the royalty checks to George Orwell?"

If only Obama had read Explaining Things to Dummies for Dummies.

The manipulations we make to our economy through the tax code are NOT FREE. We subsidize all sorts of stuff, not least of which are mortgages, through the tax code. Instead of spending the money directly, we hide the expenditures in the tax code. This has a profound effect on our economy--it is directly implicated in the mortgage bubble that left us in the hole we're in. We would be far better served by eliminating all of those variations in the tax code, and bringing all those subsidies on budget. Then we could at least see what we were spending money on, and decide whether it deserves that level of support.

As it is, we're spending money we don't even know about. At least Obama recognizes off-the-book spending. Most people think it's free.


Blogger Yoel Natan said...

Bravo! Very good ideas. I wonder whether it will happen, or are too many people in power vested in the old system?

Some of the old arguments/or slogans must not see the light of day. For example, who is better at spending your money, you or the govt? The govt has bills to pay and chaos would ensue if the govt went bankrupt. By comparison, if the populace was over-taxed, nothing half as bad would happen as the govt going bankrupt. So unless that person is going do the govt a favor and pay the govt's bills with "his" money, it's best that a person just pay his taxes and dispense will all the artful dodging and libertarian arguments.

10:56 PM  

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