In his speech to Congress last week, President Obama promised to "go line by line through the federal budget in order to eliminate wasteful and ineffective programs." Although the process was not completed yet, he said, "we have already identified $2 trillion in savings over the next decade."
But it turns out that tax increases account for half of those "savings." From Obama's perspective, it seems, letting people keep their own money qualifies as a "wasteful and ineffective program." That makes sense if you believe all resources are the government's to distribute as it sees fit, which is the premise underlying the multitrillion-dollar spending binge that Obama calls "A New Era of Responsibility."
In response to nonprofit organizations worried that limiting the deduction for charitable contributions will reduce donations, The Washington Times reports, Orszag "said Mr. Obama took care of that by giving charities government money to make up part of the difference." Orszag noted that "in the recovery act, there's $100 million to support nonprofits and charities." In essence, then, Obama plans to take money people otherwise would have given to the charities of their choice and give it to the charities of his choice.
Positive vs. negative rights, in action!
Is this kind of thing the Hope and Change folks voted for? If so, then I need to find a deserted island....here's why:
Even the name of Obama's tax credit is insulting: "Making Work Pay." What makes work pay is the willingness of other people to pay for it. Taxes subtract value from this arrangement; they do not add to it. Obama not only wants to take his cut; he wants to take credit for taking less than he could have—indeed, for letting you keep anything at all. As far as he's concerned, the fruits of your labor are yours only by the grace of government.