Wall Street Journal: What Comes After 'Europe'? Mene, Mene, Tekel u-Pharsin
by Larry Perrault on September 21, 2011 at 3:14 PM
For years, I’ve said that the European all-consuming and ostensibly all-providing state could not survive. As America has followed in its wake and recently pulled almost alongside, nor can Europe’s model survive for us. To paraphrase Barack Obama, that isn’t doom-saying scare-tactics. That’s math. And it just doesn’t add up. Barack Obama is declaring the old, tax-the-rich strategy for dealing with deficit and debt. Never mind that even a massive new taxation of the “millionaires and billionaires” he’s always talking about (though all proposals actually apply down to $200k for individuals and $250k for married couples). The real catastrophe of such an idea is the consequent great evaporation of commercial investment and maintenance or worsening of already high joblessness. The secret is that taxing the rich actually helps the rich. The European socialist model locked the wealthy in as market winners and provisionally continuous cash-cows for government, while locking lower income earners perpetually out of the class upper income and government heads, and confining many to perpetual unemployment crumbs. Even this relatively unproductive public and affluent vs general subsistence arrangement, cannot persist forever, as we are seeing.
Contrary to what some say, America doesn’t need just a Republican victory in The Senate and The Presidency next year. We need a leader who will move the masses and who is crystal clear on the rectitude and social power of liberty that our Constitution envisioned and that in short fashion, built the most prosperous and powerful nation in the history of the world. And that leader must have the resolve to pursue that vision relentlessly, regardless of what scorn and obstacles are thrown at them and in their path. Not every Republican candidate or potential candidate fits that bill. I think only a few may and one undeclared clearly does. In The Wall Street Journal Monday, Bret Stephens asks what comes after the inevitable ruin of Europe’s foolishness. This article mostly refers specifically to the European monetary union, which it supposes will not survive the failure of some of the members. But we have already seen unrest in even the European nations with larger economies, due to austerity measures forced by revenue shortages for meeting what has been foolishly promised. And our GAPING inequities between projected liabilities and revenues for our major entitlement programs are now staring us squarely in the face. We’d best brace ourselves, even if we wisely veer into a more productive policy track. For us, in consideration of Europe’s demise, do you recognize what is represented in the image below, and the counsel that came from it?