Joe Doakes from Como Park emails:
It’s getting harder for Democrat candidates to come up with more free stuff than the next guy. How can we bribe voters without free stuff?
Amy Klobuchar wants to give free savings accounts/pension plans, funded by employers and off-set by tax credits, handled by the Senate’s hand-picked fund managers to invest in stocks and bonds.
But she hasn’t fully considered why employees aren’t saving money. They don’t make enough? Everybody can always set aside a tiny fraction of their income. The trick is finding the motivation to do it. Churches solicit tithes with promises of salvation. Amy wants tax credits with promises of mutual funds. Not nearly as enticing. I’d rather buy the extra fru-fru coffee.
When somebody else subsidizes the consequences of your decisions to insulate you from harm, you have less incentive to make good choices. In some circles, that’s known as moral hazard. In Amy’s, it’s a campaign promise.
The more dependent they make society on “the authorities” for basic life decisions, the more control they have.