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Politics : Formerly About Advanced Micro Devices
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From: TimF2/26/2009 10:24:48 PM
1 Recommendation  Read Replies (2) of 1575904
 
Unalloyed Arrogance

Don Boudreaux

Here's a letter that I sent a few days ago to the Washington Times:
Dear Editor:

President Obama proclaimed that "The American people are watching. They need this [stimulus] plan to work. They expect to see the money they've earned, they've worked so hard to earn, spent in its intended purposes" ("Jindal rejects La.'s stimulus share," Feb. 22).

If Mr. Obama were truly concerned about having money spent in its intended purposes, he'd let people keep much more of what they earn. Each of us earns income by working, saving, and taking risks - efforts that we exert to improve our standard of living as each of us judges best. Few people earn income intending for a third party to confiscate large chunks of it. And only unalloyed arrogance can lead such a third party to imagine that he or she, better than each of the income earners, knows best how to spend the confiscated funds.

Sincerely,
Donald J. Boudreaux
cafehayek.com
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