Are You the Forgotten Man? Part 2
By: Dr. Phil Taverna
There was so much material in this book we needed a part 2. According to Amity Shlaes, her book, The Forgotten Man is someone that will peak your interest for sure.
But the term Forgotten Man as it was originally intended was quite simple. Basically you have people from 2 groups. One of the folks comes up with a great idea and they convince the 2nd group to vote for the great idea. And the third group the Forgotten Man gets to pay for it and he has no say in the matter. In the end the Forgotten Man gets screwed over and over again and he derives no real benefit from what he is paying for.
FDR like Obama believed in Keynesian principles. Just the other day Obama said he was going to build the economy from the middle class out. Assuming Obama has been doing that for almost 4 years, it isn’t working and it never will. The problem is that the middle class doesn’t create many jobs. Generally they take up jobs or they take up entitlements.
The stimulus freaks will help a little to overcome a small standstill. But Obama has caused a joblessness problem and like FDR and all the commies before him, they can’t fix a joblessness problem with stimulus or by doing something with the middle class. I guess Reagan had the trickle down economics that worked well. Clinton lowered Capital gains which had nothing to do with the middle class. But Obama only has a great deal of hot air, and he hasn’t created any real jobs’ growth. And he never will… because he is a socialist.
P 163: John Maynard Keynes: “Put men to work by all means at our disposal”, then prices would rise to a level to match existing government debts.
Keynesian was half right. Let’s put more people to work in the private sector by all means. What does this have to do with prices? Clearly Keynes was talking about tax revenues. So if more people are working then there would be more money to pay down Obama’s National Debt of $15 Trillion and counting. Obama by his actions thinks this holds true when creating government jobs. After creating over 100,000 government jobs for his friends and acquaintances, he has not helped the economy or the national debt.
Many Presidents like Obama starting with Carter have added to the runaway debt by spending more in anticipation of the prosperity of their economy as the source of more tax revenue to pay down the debt. But no one not even Clinton has paid down the debt!
P 199 Keynes said after a meeting with FDR: That the spending of all the New Deal programs was a good thing because cash outlays gave the common man purchasing power. With one dollar paid out for relief or public works or anything else you have created four dollars worth of national income.
Keep in mind Obama has spent all his money I mean your money and future money on existing government jobs, unions’ jobs and infrastructure jobs. Obama hasn’t spent money on any New Deal Programs. I think we can say with out reservation that Obama and his liberal cronies are short sighted. You don’t help the economy by spending money on jobs you already have. You help the economy by new jobs’ growth. You don’t help the economy by having 50% of the country on public assistance. That takes away from the national income.
FDR started the TVA which created jobs and electricity. This program created widgets that could be sold and added revenue to the national income. Obamacare will be an albatross and will not add to the national income. It will be the reverse. All people already have healthcare. Now the middle class forgottens will have to pay more so 30 million plus people can get free healthcare called Medicaid. So again Obama has not added to the national income he has taken away from it. And in the end this will cause more businesses to leave for China because they will not be profitable while paying the tax of Obamacare and the liberals while trying to pay down the National Debt!
Also keep in mind that the GDP and total employment (mostly men) in FDR’s days were much smaller. Today the unemployment is 8% back then it was almost 50% sometimes more in certain areas. The fix today will be about new jobs and additional tax revenue from those jobs that will save the day. Adding to the welfare rolls subtracts from the tax revenue. It does not add $4 dollars per each dollar spent by the government by spending on existing expenditures.
P. 201 William Green from the AFL (not NFL) in 1934 said “We cannot indefinably support 1/6th of our population on money borrowed against future taxes.”
Now that’s scary. The liberals have been trying to do that for decades. There is no wonder the national debt won’t go away! It like the “Blob” it just keeps growing and gobbles up everything!
FDR also raised the taxes to 79%. And the rich just hoarded their money. It was a no win situation. If they made money they paid 79% in taxes. If they lost money there was no retribution. So the evil rich did not invest their money in the American economy because the risk outweighed the reward. Today they are better off investing in China then investing in the United States of America!
P. 304 Harold Ickes (same guy from Annie) stated in 1937: A Liberal is a man who wants what is unattainable or who wants to reach his objective by methods that are so impracticable to be self-defeating.
Would it be a stretch to substitute liberal for words like Obama, Reid and Pelosi?
P 310 Ogen Mills in 1937 Secretary of the Treasury disagreed with Keynes who stated that consumer spending was always better than investing by the producer. Mills compared it to Ford. If Henry gave all the profits to the workers, he would not have built his company which provided millions of jobs and billions of dollars in tax revenue.
It all comes down to educating the young folks and the single females. The safety net will always be there, but will there be a job available when they need it? Henry Ford could have paid more taxes. He could have paid higher salaries. Instead he built a large business that generates more tax revenue and it pays many salaries and Ford Motor survived all the interferences caused by liberal presidents like Obama and FDR.
In November do you want a job to pick from or an entitlement to stand in line for?
If you are the forgotten person: You would be a fool to vote for a liberal!
It is time to get the liberals out of the way of our prosperity!
Final thought: I guess it would not be a bad thing to have the government care for all of us. No one would have to work. We could sleep late and just sit around and spend government money. The values to clarify here would be: Do you trust the government to be there to take care of you? Ask the Postal workers?
Dr. Phil Taverna owns and operates his own website.