Prosperity Economics: Building an Economy for All

A political flyer landed on my doorstep the other day that identified an Orange County Democratic candidate for Congress as a supporter of a plan to DO AWAY with tax deductions for existing 401(K)s and a plan to FORCE WORKERS & EMPLOYERS to contribute to a new government run 401(K) IN ADDITION TO Social Security.The flyer cited a source (*) so I decided to check it out.  Here’s what I found.

Prosperity Economics:

Building an Economy for All

By:

Jacob S. Hacker and Nate Loewentheil

·         Quick Overview

·         Executive Summary

·         Full Report

“Prosperity Economics” by Jacob S. Hacker and Nate Loewentheil, is endorsed by Campaign for America’s Future, AFL-CIO, Center for Community Change, Economic Policy Institute, Leadership Conference on Civil and Human Rights, National Council of La Raza, SEIU and more.

Now … I don’t know about you, but whenever I see AFL-CIO, SEIU and NCLR backing something, red flags start going up for me.  In my humble opinion, when union leadership backs or endorses something, it’s not because of benevolent and magnanimous motivations.  To the contrary, it’s invariably because they see it as contributing to an increase in union membership [and member dues] and an improvement in the income and power of union leadership at the expense of non-members.

While the Hacker and Loewentheil report seems at first blush to be a logical and well thought out plan for resolving the nation’s economic woes, you’ve got to ask yourself how it is that it has only now, at this eleventh hour in the election process, been released.

As for the congressional candidate who backs yet another expansion of already “too big” government and another confiscatory grab at individual income under the guise of “social fairness for all”, I say take your socialist proclivities and stick ‘em where the sun doesn’t shine.  We already have enough problems stemming from like thinking incompetents such as our current president.

So much for my thoughts!  How about yours?  I rarely receive commentary and feedback on my blog postings so for all I know they are not even being read or just aren’t that thought provoking.  In this case, I am particularly interested in hearing your opinions of the Hacker and Loewentheil report.  Let me hear from you.