, Salem, MA

November 29, 2013

Letter: Columnist gets it wrong

The Salem News

---- — To the editor:

As usual, Brian Watson gets it exactly wrong. His Salem News column, “We can design the economy we need” (Nov. 21), comes down to his advocacy of a centrally planned economy. Obamacare is the federal government’s foray into managing a sixth of the economy. How’s that working out for us? More than 5 million people have been displaced from their healthcare plans already. Another 100 million will be coming after the one-year extension on employer-based healthcare plans expire. Many of you reading this letter will be forced off your healthcare plan next year after the election. The few that have signed up are those that will go on Medicaid and drain the system. The responsible people are being forced to pay much higher premiums for coverage they don’t want or need. Next, when the federal government stops picking up the tab for Medicaid in a couple of years, the states will be required to pay. Since the states cannot print money out of thin air, our taxes will have to skyrocket. The architects of the Obamacare disaster are same buffoons that Brian Watson wants to manage the rest of the economy.

Watson also endorses government-private sector partnerships. In other words, Watson supports crony capitalists. The federal government tried that with the Department of Energy and stimulus money that it didn’t spend on propping up union campaign contributors. How did that work out for taxpayers? We paid the half-billion dollars for the loan guarantees to companies like the bankrupted Solyndra. Yesterday, the government loan guarantee for Fisker was sold for pennies on the dollar to a Chinese billionaire. Taxpayers lost $139 million on that deal. Al Gore was an investor. What a coincidence!

A market-based economy is the only one that provides enough incentive for all of us to thrive. It worked well enough for the United States to become the economic world leader. When entrepreneurs have the incentive to succeed and provide goods and services that are desired by consumers, they create jobs. Conversely, an over-regulating and confiscatory tax policy by the government causes the economy to stagnate. It really is a no-brainer.

Charles D. Danforth