It’s not easy to watch the economy being strangled. In the WSJ, Andy Kessler refers to Ibram X. Kendi’s book. “How to Be an Antiracist,” apparently “all the rage now.”
Just as Joe Biden assures the public in a speech on Monday that a massive influx of government spending will help fend off inflation, Mr. Kessler laments that the Biden administration proposals are more like a Master Class in “How to Be an Anticaptalist” and suck the air out of the economy.
Massive Deficits, Old Technology, Long Lines
Vladimir Lenin, in “The State and Revolution in 1917,” wrote that the economic aim of socialism was “to organize the whole economy on the lines of the postal service.” The Biden administration, over a century later, is on it. Biden is expanding his postal-like government with massive deficits, old technology, long lines, unaccountable executive orders, and unproductive union jobs for all takers, continues Mr. Kessler.
How to Strangle the Economy
- Pay 1.8 million people to do nothing.
- Monetize deficits by slurping up mortgages and Treasurys to keep interest rates near zero as prices rise.
- Shut oil pipelines (except Russian ones).
- Suspend drilling in parts of Alaska.
- Close Indian Point nuclear facility, (then ask New Yorkers cut back energy use during the heat wave.)
- Raise the top capital gains rate from 23.8% to 43.4%.
- Raise the top individual rate to 39.6%.
- Waive COVID vaccine patents (making pharma companies think twice before investing in new drugs.)
- Push a series of anti-trust bills to reverse mergers.
- Push for $3.5 trillion in spending unrelated to infrastructure. (calling it “human infrastructure.”)
- Limit speech.
- Open the borders.
- Mess with education (math isn’t about getting the right answer anymore).
- Ruin healthcare.
- Defund the police (causing crime rates to rise).
- Allow homeless encampments and brazen daytime crime.
- Redefine as a misdemeanor SF ballot 2014 (if shoplifters lift less than $950, cops won’t stop lifters.)
- Focus on equity and climate change rather than on a clear path for the American economy to help Americans get jobs and keep inflation at bay.
Joe Biden is looking for an FDR legacy, which Mr. Kessler thinks he might just get. Biden’s policies mirror the price-fixing and government largesse that extended the Great Depression.
Every new Biden program is a burden on the economy, reducing its natural market-driven ability to create high-paying jobs while entrenching state-run, impossible-to-kill zombie entitlements.
Mr. Biden’s policies will likely hurt low-income folks the most by squishing capital formation and job creation, squelching opportunity. Those losses will more than cancel out the “equity” handouts sprinkled like pixie dust to potential voters.
Like Lenin and the Soviets, what progressive anticapitalists never learn is that parasites should never kill their host.
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