The War Against the Producers

So right this minute, the electrical contractor is thinking:
‘I made $412,000 last year due to Saturday jobs, overtime, risky bidding, gambles on new equipment, and new lines of credit, but under Obama I will pay maybe $50-80,000 more of my income to the government. In other words the cost of, say, hiring two more entry-level electricians, or the cost of outfitting an entire new van with boom and equipment, or what I cleared every Saturday last year–all that will go to the government.”

Ripples of Doubt
And that means rippling throughout this key sector of the economy–even before these taxes have been enacted–are hesitation, stasis, and ultimately constriction–at first for psychological reasons, soon confirmed by the actual facts of less money. In short, very bright people will be thinking how to hide income, how to barter, how to slow down and not produce goods and services, rather than blast full speed ahead and enrich angry others.

Obama intends to punish the productive and reward the sluggardly. Victor Davis Hanson predicts a downward spiral in production and a large increase in slackers.