President Obama has named Alan Krueger, a Princeton University professor, to be the chairman of the Council of Economic Advisers. This in advance of his major speech next month that supposedly will lead to new jobs for the millions who are unemployed. The best way to do that, of course, is to cut federal spending, but don’t look for that proposal.
Who is Alan Krueger? He is an advocate for higher taxes, including a five percent value-added tax on top of sales and income taxes. He estimates such a tax would bring in $500 billion a year to government. But even Krueger acknowledges the main downside to a VAT is that it would reduce economic activity and place a greater burden on the poor.
So why have one? Because government never has enough of your money and refuses to live within its means. Liberals believe everything government does is good. This won’t fly in Congress leading up to the next election when we will have the chance to replace these socialists with pro-growth, less-spending politicians and advisers.
I’m Cal Thomas.
Publication date: August 31, 2011