by Gary Bauer: Is Capitalism Moral? The religious Left increasingly is providing “cover” for the political Left’s attack on free enterprise and capitalism. They argue that free enterprise is immoral because some people will do very well financially while others will fail. Sadly some young Christians are falling for this class warfare dressed up in religious garb.As a Christian, I am called personally and through my church to help the poor. I am not called to use the power of Big Government to take someone else’s earnings and redistribute them to those who did not earn it. Arthur C. Brooks, president of the American Enterprise Institute, made this point in an editorial this week. Here is an excerpt:
“Advocates of free enterprise must learn from the growing grass-roots protests, and make the moral case for freedom and entrepreneurship. They have to declare that it is a moral issue to confiscate more income from the minority simply because the government can. It’s also a moral issue to lower the rewards for entrepreneurial success, and to spend what we don’t have without regard for our children’s future.”If you have high school or college-age children, I encourage you to look for opportunities to talk to them about this fundamental issue.
President Attacks Bond Holders Our class warfare president was at it again this week. In his press conference on the Chrysler bankruptcy, President Obama singled out a group of bond holders who weren’t willing to settle for 30 cents on the dollar. These are people who lent money to Chrysler for buying their bonds in the belief that, under our bankruptcy laws, they would be first in line to be paid back. Under our system we have built a credit market – a bond market – based on that assumption, and the viability of that bond market is essential if American companies are going to be able to find funding to expand, hire, etc.
But in Barack Obama’s America, bond holders are apparently evil. Here is how he described them at his press conference:
“While many stakeholders made sacrifices and worked constructively, I have to tell you some did not. In particular, a group of investment firms and hedge funds decided to hold out for the prospect of an unjustified taxpayer-funded bailout. They were hoping that everybody else would make sacrifices, and they would have to make none. Some demanded twice the return other lenders were getting. I don’t stand with them.”This is an amazing attack on a group of law abiding Americans. Bond holders often are retired persons living on fixed incomes. The president was harsher in his words about them than he has been in describing Iran’s fanatical, Holocaust-denying dictator, Mahmoud Ahmadinejad.
Must See Video: In case you have any doubts about the anti-business, anti-free enterprise mindset that has infected Washington today, click here to watch a video of one member of Congress vowing to shut down private insurance companies.
Obama vs. Small Business: If you want a real world example of how Barack Obama’s proposed tax hikes would affect small business, read a very informative article by Lori Montgomery and V. Dion Haynes in The Washington Post titled: Small Businesses Brace for Tax Battle in which they detail that "Under Obama Plan, Some Entrepreneurs' Bills Would Soar." Please share it with like-minded friends and family members.
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