When the poor of Spain elected a revolutionary socialist government in the 1930’s, landowners came up with a slogan- “Comed la Republica!” or, “Eat the Republic!”
Owners of capital do not have to use it. If they are going to be taxed or regulated, they can just let it sit, or use it in safe places, at lower rates of return, but with less aggravation.
Via Drudge we see that liberals are very upset an Applebee’s franchise in the New York area is looking at a hiring freeze. In Chicago, the city is hiring a grand 55 new employees, and 3,000 applicants show up at a job fair– to find out they have to apply online.
The government can do a lot of things, but as of now they can’t make anyone hire anyone else. If it is not profitable to do so- if the marginal revenue does not cover the marginal cost- they won’t. It’s simple economics, of the micro kind liberals always forget about. The City of Chicago is a grand and power government that rules strictly the territory it controls, punishes its enemies and rewards its friends. But it is not the US government, and cannot print money, so it can only spend what it can collect within its borders. If private economic activity does not provide enough tax revenue the loyal Democratic voters of Chicago can’t be given city jobs as rewards.
The only way socialism can solve this problem is to control all capital and mandate all economic activity- and even then it doesn’t work. Eventually we will get the “single payer” government health program the progressives want so bad, but while that might fly somewhat in a white nation, in a nation that consists more and more of unhealthy poor minorities who consume a lot of “health care” but don’t pay any meaningful amount in taxes, there will be big shortages, and predictably rage at the evil whitey for not paying more.
Eventually Obama voters will have to eat his lofty words.