Free Republic

RALEIGH — Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration. Triggered by the financial crisis the past two months, the hearings reportedly were meant to stem losses incurred by many workers and retirees whose 401(k) and IRA balances have been shrinking rapidly. The testimony of Teresa Ghilarducci, professor of economic policy analysis at the New School for Social Research in New York, in hearings Oct. 7 drew the most attention and criticism. Testifying for...

Imagine that a week before a presidential election, a radio interview surfaced in which the Republican candidate had called for, say, the abolition of Social Security. Now imagine the broadcast networks' reaction to that nugget: "We interrupt regularly-scheduled programming for this Breaking News," followed by 24/7 coverage with talking heads pondering the devastating impact on America's seniors, the overall economy, the future of Western civilization, etc. Nobel laureate Paul Krugman would be booked from now till election day, offering his pained pronouncements. But how do those same networks react when a radio interview [YouTube after the jump] surfaces of Barack...

The Moral Case Against High Taxation by Kate Wicker 10/25/08 As a pro-life Catholic, I wouldn't vote for a politician with radical pro-choice views. And, for the most part, even those who disagree with me respect that position. But people begin to raise eyebrows when I say I believe that raising taxes on the wealthy to benefit the less well-off is wrong as well. How do I reconcile my obligation to promote social justice and embrace Jesus' teaching that "whatever you did for one of these least brothers of mine, you did for me" with my strong beliefs that high...

We now know what Obama has in store for the American economy. Let's start with energy. His is the traditional Democratic tilt in favour of renewables, ethanol and conservation. But with the polls showing that more than 70% of Americans favour opening offshore America and federal lands to drilling, Obama panicked. He now says he will go along with a comprehensive deal that includes new taxes on oil companies in return for a relaxation of restrictions on offshore drilling, so long as it is done in an environmentally sensitive way, which means that there will be no offshore drilling. As...

Stimulus: Barack Obama's newly unveiled "Emergency Economic Plan" is quite a document, sounding more like the rantings of an extremist fringe candidate than a serious contender for the presidency.The six-page package is a doozy, replete with populist ideas that will wreck the economy and leave us poorer. The only real emergency we should worry about is the debacle that would follow its passage. It's shocking that a mainstream candidate, with so many supposedly well-regarded economists advising him, would produce such a shoddy, poorly thought-out plan. Take his proposal to send every family a check for $1,000. Don't worry, he assures...

Following in John Kerry's footsteps, former Vice President Al Gore was in Madrid, Spain, Wednesday basically blaming the world's problems on the country that made him a very wealthy man. As reported by the Associated Press (h/t Drudge, emphasis mine throughout): "Emerging economies such as China are justified in holding back on fighting greenhouse gas emissions until richer polluters like the United States do more to solve the problem, former Vice President Al Gore said Wdenesday." Of course, Al Gore didn't mebntion that one of the fastest growing economies in the world is China's or that it is believed that...

In a bid to woo moderate voters, Democratic gubernatorial candidate Phil Angelides has revamped his campaign message and is pushing an economic plan he hopes will resonate with the middle class. At the same time, he is giving his personal image a makeover. The state treasurer, who has had trouble captivating voters and acknowledges he is something of a nerd, has dumped his staid suit-and-tie in favor of open-collar shirts -- almost always a comforting blue -- and adopted a more casual tone on the campaign trail. It's an effort to counter attacks from Schwarzenegger that he wants to raise...