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    Saturday, January 10, 2009

    Obamania having an impact on Americans perceptions

    Rasmussen Reports that Americans are warming to the idea of more government intervention in the economy. Some highlights from recent Rasmussen polling:
    • 45% of voters nationwide fear the government will do too much in response to the economic crisis while 44% are concerned that the government won’t do enough. In September, the numbers were 63% too much, 25% too little.
    • The one constant throughout, however, is belief in the power of tax cuts to help the economy. In every survey conducted over the past few months, a majority of voters have favored tax cuts and tax cuts have consistently been more popular than stimulus plans involving new government spending. The latest findings show that 55% of voters believe any economic recovery plan approved by Congress should include tax cuts.

    So, Obama is selling the idea that government is the solution, the media is contributing to Obama as the "New, New Deal" savior, and Americans are buying that government is the answer.

    Although most Americans understand that tax cuts should be included in any recovery plan, my fear is they are only thinking of the pittance they will get, and are buying into the "tax the rich" scheme that Obama is peddling. As I have posted recently, we need big, bold tax cuts, for individuals, for corporations, and for investors. The overall economy won't benefit from government "investment," "stimulus," or other "infrastructure" spending. This is only taking money out of the economy from one place (taxpayers or investors) and transferring it to another (see this Heritage org piece).

    Conservatives and Libertarians need to band together to return our nation to fiscal responsibility and sound tax policy. We are rapidly devolving to a Western European style welfare state and a future of low (or no) growth, and will be likewise ceding our leadership place in the world to the Chinese.

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