Monday, September 20, 2010
I laughed at the title of Caroline Baum's piece about whether Obama should be attempting to "create" jobs: "Mr. Obama, Here's My Resume, Where's My Job?" Although I think the initial part of her argument could have been stronger, I did appreciate the following:
What we know is that lower taxes on income and capital provide more of an incentive to take risks and start a new business. If ... that's what the country needs to create jobs, then by all means the president and the Congress should do everything in their power to ensure taxes stay low.I agree with the spirit of Baum's argument, except that she does not go far enough. Repealing all central planning measures and government looting would do wonders.
Instead, like the bureaucrats in Ayn Rand's Atlas Shrugged, they keep promising to unveil yet another plan -- the John Galt plan, named after Rand's hero -- to save the economy. [minor edits]
Getting to that point would, ironically, require a plan, but the final, ideal result would be a complete lack of what Baum rightly calls "central planning." Once again, life under the Obama Administration looks like a page out of Atlas Shrugged. The only thing I could support Obama planning is the one thing he won't consider: getting out of the way.