I’m going to circle back to politics for one day, with this article from libertarian scribe John Stossel: What Candidates Won’t Say. Excerpt:
Clinton promises more than $1 trillion in new “investments,” free day care, maternity leave, an expansion of Obamacare, more funding for veterans, new solar subsidies, new bridges and tunnels and “college, tuition free!” Then she says, “We’re not only going to make all these investments, we’re going to pay for every single one of them!” But that’s absurd.
Sometimes she says money will come from new “taxes on the rich,” but America’s rich aren’t rich enough to fund her grand schemes. Even if they were, they’d move out of the country or use tricks to evade her high taxes. Even The New York Times admits that Clinton’s tax plan adds “so many new layers of complexity” that it would “be a huge boon for tax lawyers.”
Trump is as bad, promising tax cuts and new spending on the military, infrastructure and that giant wall. Other than promising that Mexico will pay (it won’t), he never says where he’ll get the funds.
The biggest chunk of America’s budget is entitlements: Medicare, Social Security, Medicaid. Trump never talks about making those benefits sustainable — in fact, he says he “won’t touch” Social Security.
Clinton rarely talks about entitlements at all.
Both major candidates are Santa Claus, promising different bags of goodies, but neither has a plan to pay for those goodies. Both parties are running on the ticket of fiscal insolvency, both parties ignoring the massive heaps of debt we have laid on the backs of future generations.
But in this sort of a race it’s the Democrats that have the edge; Her Imperial Majesty Hillary I makes no pretense of fiscal responsibility, selling her bags of goodies as paid for by “making the rich pay their fair share,” a nonsensical claim that has never been realized; the top 1% of income earners already pay for more than their fair share, and the more Congress tightens its grip on those producers, the more capital will flee the country for havens in other nations.
Maybe the Dowager Empress’s administration will finally be the one that runs up against Stein’s Law. More likely, the fiscal can will be kicked down the road for at least another generation.
A nation’s got a lot of ruin in it.