The good news is that, according to the Obama administration, the rich will pay for everything. The bad news is that, according to the Obama administration, you're rich.
You may be surprised to discover you're rich, especially if you're broke. How do you know you are a member of the penurious plutocracy? Take this simple test: See if you pay double for everything.
The financial bailout, for example. Pay for it once with your IRA and 401(k) plan investments. Now pay for it again with your tax dollars.
Ditto with the economic stimulus. Write checks to cover your mortgage payment, utilities, insurance premiums, car loan, basic cable, high-speed Internet access, Visa, MasterCard, and American Express bills, and turn your teens loose in the Old Navy store. Think you're done stimulating the economy? I think not. You've also lent President Obama a godzillion dollars to go on an economically stimulational shopping spree of his own. For collateral the Bank of Obama is using a mortgage on that home of yours called America and a lien on all the future earnings of your children.
How about the new car you've paid for with government largesse to GM and Chrysler? They didn't even send a thank you note containing a scratch-and-sniff card with that new car smell. If you want a car that's visible in your driveway, you'll have to--you guessed it--pay double.
Of course paying double for everything didn't start with the Meltdown of '08. It's an integral part of the modern welfare state.
Thursday, April 02, 2009
P.J. O'Rourke in the April 6th Weekly Standard: