James Carville, the man who Rush Limbaugh refers to as “Snakehead,” is now out hawking his new book, It’s the Middle Class, Stupid! But the embarrassing problem for Carville and his co author, Stanley Greenberg, is that in order to believe that that they have the proper prescriptions for the salvation of the declining the middle class, you have to be stupid.
While the Obama administration is presiding over trillions in annual deficit spending which caused the US credit rating to be downgraded for the first time since the credit agencies were founded, the co authors seem to believe that our government just needs to spend and tax more. This is absurd. If a government could enrich itself and its people simply by taxing and spending fiat money, than any country, Cuba, North Korea, Cameroon, Tajikistan could make everyone of its citizens millionaires.
Carville and Greenberg claim that raising the top tax to 39.6% to where it was during the halcyon Clinton years, will miraculously pull this economy out of its freefall. But over the first three years of the Obama administration, the middle class has lost a third of its net worth due to the continuing collapse of the housing market and the lack of new job creation. Spain, Greece and California are shining examples of their more-tax-and-spend prescriptions and all are teetering on the brink of bankruptcy.
Hey, Carville and Greenberg, since you guys brought it up, yeah, to believe that we can fix this economy by adding the middle class to our already unaffordable entitlement state, you gotta be stupid.
