I found this article very interesting as it outlines what occurred regarding the redistribution of wealth during the Obama, Bush, Reagan (surfacing a lot these days), and Clinton administrations. It also outlines what Romney proposes. "When Mr. Romney criticized Mr. Obama for wanting to redistribute income, he was channeling Ronald Reagan, who quipped back in 1964: we “can’t see a fat man standing beside a thin one without coming to the conclusion that the fat man got that way by taking advantage of the thin one.”
I agree with the last line of the article below:
“It seems that a larger share of our economic resources will be redistributed.” That’s regardless of who occupies the White House.
“It seems that a larger share of our economic resources will be redistributed.” That’s regardless of who occupies the White House.
Read in context, it looks like Reagan felt it was a mistake to think the fat man grew fat by taking advantage of the thin man.
ReplyDeleteThis is the most important line from the article: "The American public will not really accept the kind of drastic cuts in benefits that would be needed to solve the entitlement crisis."
Let's hope it isn't true. It would mean that a credit-card mentality will lead us to spend ourselves to bankruptcy as a nation.