Does trying to redistribute wealth in the name of fairness make us better off or worse off? President Obama said a few years ago that, in his view, “the trick” to creating a more prosperous nation is to “structure government systems that pool resources and hence facilitate some redistribution – because I actually believe in redistribution, at least at a certain level to make sure that everybody’s got a shot.”
We’ve seen him try and do that the last four years. He’s transferred money from the coal industry — which he has promised to bankrupt — to failed companies like Solyndra. He’s transferred money from our children in the form of $5 trillion of new debt into huge spending programs like the stimulus. And he’s redistributed $700 billion from Medicare into Obamacare.
No wonder unemployment has been over 8 percent for 43 straight months.