Free Markets, Free People

Ed Morrissey nails it

Take a look at this little blurb from President Obama’s speech in Quincy IL:

We’re not, we’re not trying to push financial reform because we begrudge success that’s fairly earned. I mean, I do think at a certain point you’ve made enough money. But, you know, part of the American way is, you know, you can just keep on making it if you’re providing a good product or providing good service. We don’t want people to stop, ah, fulfilling the core responsibilities of the financial system to help grow our economy.

Ed latches on to those two highlighted lines to deliver a great rebuttal:

He should have stuck with the TelePrompter. The President doesn’t get to decide when people have “made enough money.” In fact, as the radio host notes, that’s a statist point of view. Furthermore, the responsibility of an entrepreneur isn’t to “grow our economy,” core or otherwise. It’s to grow his own economy. In a properly regulated capitalist system, the natural tension of self-interests create economic growth through innovation and efficient use of capital and resources.

Bingo – well said, old friend.


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7 Responses to Ed Morrissey nails it

  • Bingo – well said, old friend.


  • … and away goes economic growth down the drain

  • I do think at a certain point you’ve made enough money

    >>> Obama made what, $5 mil last year? I guess that’s the limit….

  • By the way, if NY State has it’s way, we won’t own our own bodies anymore.

    Yeah, November can’t come fast enough.

  • No Big shock there, Leftists have never understood, or trusted markets. They are complicated and just plain icky to them.

  • kyle8 Leftists have never understood, or trusted markets.

    Absolutely.  Witness Congress’s constant meddling in various markets, usually resulting in pointless costs to companies and individuals as well as more problems in the future.  Other goofy things I’ve read and heard from lefties:

    — The purpose of companies is to give people jobs.

    — Markets do not regulate themselves.

    — Complaints about “excessive” profits.

    Frankly, a hard-core communist has a better understanding of markets and capitalism than your average brain-dead lefty.

    As for Imeme asserting that people reach a point where they’ve made “enough” money, I have to wonder how his deep-pocketed pals like Rezko, Buffet, Soros, and the Hollywood crowd feel about that, not to mention the millionaires who populate the upper ranks of the democrat party.  I’m guessing that their collective attitude is basically that some pigs are more equal than others.