The Liberal Obsession: Spread the Wealth Around
Liberal Democrats have a singular obsession: the gap between  rich and poor. Close it with Robin Hood-style soak-the-rich policies, and  America will be a better place, they believe. "Spread the wealth around,"  presidential candidate Barack Obama told "Joe the Plumber."   
It's an obsession, of course, that's also found in Hugo  Chavez's Venezuela and Castro's Cuba: places where such policies have not  created innovation, investment and wealth -- but instead created  poverty.   
Last night on the PBS Newshour, Rep. Jan Schakowsky, an influential  Illinois Democrat, again raised the Democrat's spread-the-wealth banner -  putting forth the usual liberal crackpot theories about how to reduce the  federal deficit - namely, she explained, by utilizing massive soak-the-rich tax  polices and huge cuts in defense spending. 
But what underpinned Rep. Jan  Schakowsky deficit-reduction plan was her obsession with closing the gap  between rich and poor -- a goal she's obviously unwilling to address with  business-friendly policies, entrepreneurship, and a free market. She  explained:    
Well, you know, we have right now the greatest disparity in income from the rich to the poor and middle class than we have had since 1925, right before the Great Depression. And this kind of income inequality is not good for our economy.
And it's certainly not good for people who have seen their incomes stagnant or falling over the last couple decades. In fact, all of the growth in wealth went during the Bush years to the top -- wealthiest people in our economy. It is not a good situation for us to be, as Nicholas Kristof has called, like a banana republic.
In Britain during Prime Minister Margaret Thatcher's conservative pro-growth policies in the 1980s (now making a comeback in Britian and Europe), left-wing Members of Parliament had the same obsession: closing the gap between rich and poor -- even though Britain's economy was humming and rich and poor alike benefited from that prosperity. Here is the prime minister's famous response to one of those left-wing MP's during "Question Time" in Britain's Parliament -- a lesson from "Economic's 101" that Democrats like Rep. Schakowsky would do well to learn:




