Monday, September 12, 2011

Quote of the Day: Arthur Laffer

From the 9/12/11 WSJ:

Some people actually believe government can create jobs by taxing and borrowing from people with jobs and then giving that money to people without jobs. ~ Arthur Laffer, 9/12/11 WSJ

Mr. Laffer expands on that quote which describes perfectly why we are in the terrible economic situation of Obamanomics.

Government taxes cigarettes to stop people from smoking, not to get them to smoke. Government fines speeders so they won't speed, not to encourage them to drive faster. And yet contrary to common sense, it seems perfectly natural to some people that government would tax people who work or companies that are successful only to give that money to people who don't work and to bail out losing companies. The thought never crosses their minds that these policies are the very reason why our economy is in such bad shape.

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