For the past seven years, according to Rep. Jim Moran, “We have been guided by a Republican administration who believes in the simplistic notion that people who have wealth are entitled to keep it.” Actually, that “simplistic notion” has been the linchpin of the American system of free enterprise for the past two centuries. It has served to make the United States the most bountiful, wealthy and charitable nation on earth. Yet Moran says that system “doesn’t work in the long run.”
By Oliver North
My fellow Americans, welcome to the long run.
The coincidence of an economic downturn and our most recent political realignment have produced calls for urgent, dramatic, decisive action. Liberal politicians, such as Moran, are suggesting that we all would be better off if we’d adopt a more punitive tax code and use the Internal Revenue Service to redistribute the wealth. Republicans and Democrats already have allied to use our tax dollars to bail out an insurance giant, mortgage companies and financial institutions that made bad loans and extended credit to borrowers who couldn’t pay. Coming soon: tax dollars to save U.S. automakers. Attached to all these U.S. Treasury checks: countless pages of new fine-print regulations designed to prevent future financial stupidity — or to ameliorate its consequences. But as they say in the Marines, “You ain’t seen nothin’ yet.”