Thoughts for Today

Jonah Goldberg has a nice piece appearing in National Review Online about money, oil, health care and Obama.

Obama and his Democratic successors will keep trying to squeeze the rich to pay for their schemes. But that won’t raise anything close to the revenue they need. They’ll try for a value-added tax, which will raise lots of money but also stifle growth. Eventually, if they want to avoid bankruptcy and keep the welfare state afloat, never mind pay for all of these environmental white elephants, they’ll need more revenue, and that’s where oil comes in.