The Genius of Milton Friedman — Capitalism Preserved

Milton & Rose Friedman / Photo: Corbis

Four days ago, The Wall Street Journal published an outstanding article by Stephen Moore titled, The Man Who Saved Capitalism. One of the reasons President Reagan’s economic policies were so successful was because he relied upon the advice and wisdom of Milton Friedman. The entire article is worth reading. I am convinced liberals will never understand the genius of Friedman. If you ever want to have some fun, look up the numerous YouTubes of Friedman eviscerating the brightest of liberals. Here are some excerpts of Moore’s excellent article (also, see a great video at the WSJ URL):

It’s a tragedy that Milton Friedman—born 100 years ago on July 31—did not live long enough to combat the big-government ideas that have formed the core of Obamanomics. It’s perhaps more tragic that our current president, who attended the University of Chicago where Friedman taught for decades, never fell under the influence of the world’s greatest champion of the free market. Imagine how much better things would have turned out, for Mr. Obama and the country.

Friedman was a constant presence on these pages until his death in 2006 at age 94. If he could, he would surely be skewering today’s $5 trillion expansion of spending and debt to create growth—and exposing the confederacy of economic dunces urging more of it.

In the 1960s, Friedman famously explained that “there’s no such thing as a free lunch.” If the government spends a dollar, that dollar has to come from (more…)

Romney Says Obama’s Health Care Mandate is a Tax

In an interview today, Mitt Romney clarified his view on whether or not Obama’s individual health care mandate is a tax.

In that interview, Romney states:

“While I agreed with the dissent, that’s taken over by the fact that the majority of the court said it’s a tax, and therefore it is a tax. They have spoken.”

“They concluded it was a tax. That’s what it is, and the American people know that President Obama has broken the pledge he made,” he added. “He said he wouldn’t raise taxes on middle-income Americans. Not only did he raise the $500 billion that was already in the bill, it’s now clear that his mandate as described by the Supreme Court is a tax.”

In the run up to the Supreme Court decision on Obamacare, Republicans, including Romney, had hoped that the mandate would be found unconstitutional as both a penalty and a tax. Republicans also argued that the mandate could not legitimately be classified as a tax. It should not be a surprise then that Romney, as well as other Republicans, originally disagreed with the majority ruling that found Obamacare constitutional as a tax.

But now that the Supreme Court has ruled, their ruling becomes the law of the land and the reality America must accept. As Romney said in his interview today, “If the Supreme Court says its a tax, it’s a tax.”

Romney believes that since we are stuck with the ruling and definition of the Supreme Court, Obama needs to be held accountable to the American people for that ruling. Obama needs to be held accountable to the American people that he raised their taxes after promising many times that he would not raise taxes on the middle class.

The Supreme Court ruling then represents a major problem for President Obama because he can now be accurately described as a “tax raiser,” and a politician who can’t (whether intentionally or unintentionally) keep his campaign promises. And Romney fully intends to exploit that weakness in the coming campaign.

Obamacare & Romney’s July 4th: “Agree with Supreme Court DISSENT, but it’s a TAX”

After participating today in the annual Fourth of July parade in Wolfeboro, New Hampshire, Governor Mitt Romnney offered his assessment of the Supreme Court’s ruling on Obamacare: “It’s a tax.

Romney spoke with CBS News’ chief political correspondent Jan Crawford:

The Supreme Court has spoken, and while I agreed with the dissent, that’s taken over by the fact that the majority of the court said it’s a tax, and therefore it is a tax. They have spoken. There’s no way around that. “I said that I agreed with the dissent, and the dissent made it very clear that they felt it was unconstitutional, but the dissent lost – it’s in the minority.” – Mitt Romney

Romney’s senior adviser Eric Fehrnstrom earlier this week claimed Romney viewed the Obamacare matter as a penalty, or fine.

The L.A. Times offered more on Romney’s parade appearance:

The presumptive Republican nominee, accompanied by what he called “a bevy of Romneys,” marched near the end of the parade, which filled Wolfeboro’s Main Street for more than two hours and showcased a mind-bending vision of small-town Americana.

There was the American Legion and the Rotary, the Daughters of the American Revolution and virtually every local elected official. There also was a Toro lawnmower brigade, a truck from Big Moose RV

Sales, a rolling wood-fired pizza oven and enough military and farm vehicles to move and feed an army. There also was a parade favorite, the Wolfeboro Offshore Ad-Lib Precision Lawn Chair Drill Team — basically, a bunch of senior citizens who march in formation throwing lawn chairs around with abandon, except when they are taking a break by sitting in them.

Shaking hands and greeting the crowd along the route, Romney was flanked by family members and supporters. When the parade finished, he spoke to a large gathering, where a smallish group of Obama supporters were present to chant support for their guy.

NECN’s Lauren Collins posted the following parade report (Look at the long stream of Romney supporters who marched in the parade with him!):

Ms. Collins finished her report wondering if The Gov’s remarks would have a highly charged political tone… Here’s her answer:

Romney went so far as to celebrate the presence of President Obama’s supporters in the parade and quickly silenced his own backers who booed at their mention.

“You know what?” Romney told them, as he spoke from the back of a pickup truck overlooking a blue-green vista of the lake and distant mountains. “They were courteous and respectful and said, ‘Good luck to you,’ and ‘Happy Fourth of July.’”

Continuing, he said. “This is a time for us to come together as a people. We have differing views on political issues, but with regards to our conviction that this nation is unique and exceptional, we must come together and show respect for what it is that makes us such a great nation.”

To read Romney’s July 4th statement, see Team Romney’s new video, and view photos click here.



Follow Jayde Wyatt on Twitter @YayforSummer

Romney Responds to Supreme Court Ruling: “HELP US defeat Obamacare.” (VIDEO)

Standing in front of the Supreme Court building, protestors decry Obamacare.

A landmark day… It’s a tax!

Moments ago, speaking from Constitution Ave in Washington D.C., Governor Mitt Romney spoke out against the Supreme Court’s ruling today on the Affordable Health Care Act better known as Obamacare:


Transcript:

As you might imagine I disagree with the Supreme Court’s decision, and I agree with the dissent, what the court did not do on its last day in session, I will do on my first day if elected President of t he United States, and that is I will act to repel Obama Care. Lets be clear about what the court did and did not do. The court said that Obama care does not violate the Constitution. What they did not do was say Obama-care was a good law or its good policy, Obama care is bad policy yesterday, its bad policy today.

Obama care was bad law yesterday, it’s bad law today. Let me tell why I said that, Obama care raises taxes on the American people by approximately 500 billion dollars, Obamacare cuts medicare, cuts medicare by approximately 500 billion dollars and even with those cuts and tax increases, Obama care raises billions to our national debt and pushes obligation the oncoming generations. Obamacare also means for up to 20 million Americans they will lose the insurance they currently have, the insurance that they like and want to keep.

Obamacare is a job killer, businesses across the country have been asked what they think of Obama care, 3 quarters of those survived by the chamber of commerce said Obamacare makes it less likely for them to hire people. And perhaps most troubling of all, Obamacare puts you between the Federal government and your doctor. For all those reasons its important for us to repeal and replace Obamacare. What are some of the things we will keep in place? And must be in place for a reform, a real reform of the healthcare system. One we have to make sure people who want to keep their current insurance will be able to do so. Having 20 million people, up to that number of people, lose the insurance they want is simply unacceptable.

Number two, we’ve got to make sure that those people who have preexisting conditions know that they will be able to be insured. And they will not lose their insurance. We also have to assure that we do our very best to help each state in their efforts to assure that every American has access to affordable health care. And something that Obamacare does not do that must be done in real reform is helping lower the cost of health care and health insurance. It’s becoming prohibitively expensive.

And so this is now a time for the American people to make a choice. You can choose whether you want to have a larger and larger government more and more intrusive in your life. Separating you and your doctor. Whether you’re comfortable with more deficits. Higher debt that will be passed onto the coming generations. Whether you’re willing to have the government put in place a plan that potentially causes you to lose the insurance that you like.

Or whether instead you want to return to a time when the American people will have their own choice in health care. Where consumers will be able to make their choices as to what kind of health insurance they want. This is a time of choice for the American people. Our mission is clear. If we want to get rid of Obamacare, we’re going to have to replace President Obama.

My mission is to make sure that we do exactly that. That we return to the American people the privilege they’ve always had that lived their lives that they feel most appropriate. Where we don’t pass onto coming generations massive deficits and debt. Where we don’t have a setting where jobs are lost.

If we want good jobs and bright economic future for ourselves and for our kids, we must replace Obamacare. That is my mission. That is our work. And I’m asking the people of America to join me. If you don’t want the course that President Obama has put us on, if you want instead a course that the founders envisioned, then join me in this effort. Help us. Help us defeat Obamacare. Help us defeat the liberal agenda that makes government too big, too intrusive and is killing jobs across this country. Thank you very much.”

From The Washington Times:

The real losers today are the current members of the younger generation whose votes the Democrats continue to court even as they pile massive quantities of debt on them, assuring a dismal future. Younger voters, whether they understand it or not, will be paying for a vast governmental expansion whether they want to or not. On top of being unemployed, unable to buy a house, and unable to pay back their massive student loans, the future doesn’t look to bright for these young, idealistic voters who massively supported The One in 2008. One wonders how many of them understand the truth and the consequences of that vote. I not, they’ll be finding out shortly.

The whole Obamacare wrangle was and is a mess of considerable proportion. It was monster legislation, rammed down the collective throats of the American people who have opposed it by a significant majority from the get-go, and still do. Obamacare is proof positive that, at least for now, the country is firmly in the hands of wealthy, dismissive elitists who fully intend to make the average American pay for their world view even as these elitists take care to exempt themselves from the consequences of their actions.

The markets may have smelled what was coming from Washington this morning as stocks tanked from the moment the starting bell was rung. This seems to offer at least anecdotal proof that inside traders knew what was coming before anyone else did and acted accordingly. Pros are well aware that this decision will lead to a continuing stagnation in hiring, which in the current economic climate is the worst thing of all. Smaller employers will cease to add jobs and grow, simply to be able to remain below the threshold where they’ll be forced to comply with the now officially constitutional Obamacare legislation.

The Supreme Court has awakened a sleeping giant. Support Governor Romney. Donate here.