The View From 1776

The Coming Economic Class Warfare

As expressed by Congressman Barney Frank (motto: Rich people have too much money, and I intend to take it away from them), a Democrat/Socialist administration will hike taxes in the name of socialism’s social justice, while expanding the welfare-state and paying for it with inflationary expansion of the money supply.

In other words, the plan is to go back to the Great Society policies of President Lyndon Johnson that gave us simultaneously massive unemployment, soaring inflation, and destructively high tax rates.

See An Obamanomics Preview and then Obama and the Tax Tipping Point.