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Why People Now Ignore Paul Krugman

October 19th, 2012 - 8:28 am

This is the bottom line: Barack Obama is a redistributionist radical Keynesian.  He believes in “spreading the wealth around,” as he famously told Joe the Plumber in 2008.  That is, he wants to confiscate the money you earn and give it to someone else.  He thinks that massive government spending is the key to economic recovery.  He thinks every aspect of life should be under the control of the federal government. And that, by the way, is the real agenda behind the 2700-page behemoth that is Obamacare: take decisions about health care — that’s life-and-death decisions — away from individuals and give them to the state.

And what about Mitt’s plan to create jobs?  Paul Krugman says that Romney is “just faking it,” “telling lies,” etc.  Here’s what we know.  Mitt Romney started a business that created wealth not just for himself but also for countless businesses and the individuals who work for them. Bain Capital invested in companies like Staples and made millions; Obama invested in companies like Solyndra and lost billions. Mitt Romney was governor of one of the most liberal states in the country.  He worked effectively with Democrats to balance the budget and left the state that was debt-ridden when he came to office with a tidy surplus of $3 billion. Paul Krugman says that Romney’s five-point plan lacks specifics, but it seems pretty specific to me:

  • Achieve energy independence by 2020 by harnessing the vast resources of North America’s energy reserves.
  • Work to overcome trade barriers to American businesses abroad.
  • Improves skills-based education in America.
  • Reduce the size of government and cut the deficit.
  • Champion small businesses by reducing the morass of business-blighting regulation and simplifying and cutting the tax burden of businesses and individuals.

Paul Krugman says this amounts to “Bushonomics,” with tax cuts for “the rich” and a gutting of environmental protection.  Currently, “the rich” — if by “rich” you mean the top 1 percent of tax filers — pay nearly 40 percent of the income tax receipts while the bottom 47 percent (remember that number: it was supposed to be one of Romney’s gaffes, yet it was the simple truth) pays zero — that’s nada, none, zilch — in income tax.  Is that (to use one of Obama’s favorite words) fair?  The Obama-Biden class-warfare campaign has backfired as more and more people realize that by “rich” they basically mean someone who is employed and not on welfare, the presumption being that if you are not on the government dole you are somehow being unpatriotic. And as for “protecting the environment,”  the EPA long ago ceased being about clean air and clean water: now it is all about promulgating punitive government regulations that have only the most tenuous relationship with helping the environment but most certainly help stymie the economy and blight business. Mitt Romney understands this critical truth: if you want to help the environment, create wealth.  Then you will have the resources and cultivate the technological know-how to foster cleaner energy. What the country needs is cheap, abundant energy, period, full stop.

I suspect that Paul Krugman is going to find his street corner more and more lonely in the weeks to come. Barack Obama’s redistributionist, spendaholic, big-government, blame-America-first policies have finally been revealed for what they are: not the post-partisan, prosperous, green utopia he promised, but an economic and foreign policy disaster. Americans see that, which is why Obama’s campaign is visibly disintegrating by the day and angry, partisan hacks like Paul Krugman are increasingly shouting for themselves alone. No one is listening because we’ve heard it all before and know it’s hooey.

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