Tuesday, April 12, 2011

Thomas Sowell's take on solving our budget crisis

I do love me some Thomas Sowell. In another outstanding column, he gives a criticism-proof plan of how to seriously reduce our deficits by cutting spending. When conservatives talk of cutting government spending, out come the usual canards from the Harry Reids and Nancy Pelosis of the world about how these spending cuts will kill children and the elderly.

Not so with Sowell's plan:
My plan would start by cutting off all government transfer payments to billionaires. Many, if not most, people are probably unaware that the government is handing out the taxpayers' money to billionaires. But agricultural subsidies go to a number of billionaires. Very little goes to the ordinary farmer.

Big corporations also get big bucks from the government, not only in agricultural subsidies but also in the name of "green" policies, in the name of "alternative energy" policies and in the name of whatever else will rationalize shoveling the taxpayers' money out the door to whomever the administration designates, for its own political reasons.

The usual political counterattacks against spending cuts will not work against this new kind of spending-cut approach. How many heart-rending stories can the media run about billionaires who have lost their handouts from the taxpayers? How many tears will be shed if General Motors gets dumped off the gravy train?

It would also be eye-opening to many people to discover how much government money is going into subsidizing all sorts of things that have nothing to do with helping "the poor" or protecting the public. This would include government-subsidized insurance for posh and pricey coastal resorts, located too dangerously close to the ocean for a private insurance company to risk insuring them.

This approach would not only circumvent the sob stories, it would also circumvent the ideological battles over whether to cut off money to Planned Parenthood or National Public Radio.

The money to be saved by cutting off agricultural subsidies to the wealthy and the big corporations is vastly greater than the money to be saved by cutting off Planned Parenthood or National Public Radio, much as they both deserve to be cut off....

By all means, read the rest!

"If a nation expects to be ignorant and free... it expects what never was, and never will be." -Thomas Jefferson


Tracie said...

If only Tom Sowell was a movie star so people would listen to him.

If I could sit down to dinner with this man and hear him out about anything and everything, I would probably pass out.

Anonymous said...

We no longer live in a capitalist society but a corporate one.