Thursday, December 9, 2010

"Questions for Democrats"

"It was Mark Twain who referred to the late 19th century as the "Gilded Age" -- glittering on the surface, but corrupt underneath. Still, the era witnessed the birth of modern America. The Western frontier closed, Americans settled 430 million acres in the Far West and the economy transitioned from a largely agrarian society to an industrial one, a shift that transformed the country. Incomes grew rapidly. More people prospered.

"These years also saw the rise of the Populist crusade. Burdened by heavy debts and falling farm prices, many farmers joined the Populist Party, which called for an increase in the amount of money in circulation, government assistance to help farmers repay loans, tariff reductions and a graduated income tax."

Short-term government assistance, taxation and regulation became a monster that has brought dependence on government and an unsustainable debt. It is one thing for government to create a safety net. It is quite another for it to build a hammock."

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