Capitalism works, and it’s the only system that does, but it doesn’t fit into President Obama’s “redistribution of wealth” agenda, which is really what his whole administration has been about.
When government takes our money and spends it on public benefits like the highway system or the military, that is what the Constitution had in mind, but when our money is taken and given to individual citizens for reasons like health insurance subsidies, food stamps, welfare, subsidized housing, etc. ... that’s socialism and redistribution. There is an immense difference.
Take, for example, something as seemingly virtuous as forcing private insurance companies to cover pre-existing conditions. If that’s not taking from the rich and giving to the poor, I’ll kiss Nancy Pelosi.
Imagine running into a deer and then going into your local Geico insurance office, with which you’ve never done business, and demanding that they pay to have your car repaired! Or, why buy healthcare in advance, at all? Buy it after you fall down the stairs, because now, your broken leg a pre-existing condition.
Don’t forget President Obama’s first attempt at “wealth redistribution,” the stimulus package that came in at almost $1 trillion. It worked so well on those “shovel ready” projects that unemployment was above 8 percent for years and in truth, still is, but don’t be fooled, it wasn’t about jobs at all. It was about sharing the wealth.
President Obama’s answer for jobs was no jobs at all. It was to extend unemployment insurance for 99 weeks. I wonder how many billions of dollars went from those who were working to those who were not.
The food stamps bonanza under President Obama is another example. From 2008 to 2012, the number of recipients went from 28 million to 46 million, and the annual payout increased from $34.6 billion to $74.6 billion. Quite an achievement!