Noticing some of recent commentary on Carter's infamous "malaise" speech, particularly some stating that it wasn't all that bad, I went back and read the text. And I have to admit, it isn't all that bad, compared to Obama. What jumped out at me, though, was the same idea that if we just raise taxes and spend it on pie-in-the-sky everything will be fine.
Carter said on July 15, 1979:
"I will soon submit legislation to Congress calling for the creation of this nation's first solar bank, which will help us achieve the crucial goal of 20 percent of our energy coming from solar power by the year 2000."
"These efforts will cost money, a lot of money, and that is why Congress must enact the windfall profits tax without delay. It will be money well spent. Unlike the billions of dollars that we ship to foreign countries to pay for foreign oil, these funds will be paid by Americans to Americans. These funds will go to fight, not to increase, inflation and unemployment."
Incidentally, Carter got his windfall profits tax. Take a look at how that worked out for us by clicking here.
Keep this in mind as Obama continues to push for tax increases and as his solar scandal heats up.
