Friday, October 24, 2008

EDITORIAL FROM THE WALL STREET JOURNAL - ARE WE READY FOR A LIBERAL SUPERMAJORITY?

(Wall Street Journal) -- Friday's Wall Street Journal editorial states that if the current polls hold, Barack Obama will win the White House on November 4 and Democrats will consolidate their Congressional majorities, probably with a filibuster-proof Senate or very close to it. Without the ability to filibuster, the Senate would become like the House, able to pass whatever the majority wants. "This would be one of the most profound political and ideological shifts in U.S. history," writes the Journal. "Liberals would dominate the entire government in a way they haven't since 1965, or 1933. ... If the U.S. really is entering a period of unchecked left-wing ascendancy, Americans at least ought to understand what they will be getting, especially with the media cheering it all on." The Wall Street Journal lists several policy proposals that "have very good chances of becoming law in 2009 or 2010" if current polling is accurate. They include: Medicare for all ("The Obama plan would shift between 32 million and 52 million from private coverage to the huge new entitlement. Like Medicare or the Canadian system, this would never be repealed."); Overhaul of the business sector ("The financial industry will get an overhaul in any case, but telecom, biotech and drug makers, among many others, can expect to be investigated and face new, more onerous rules."); and union supremacy ("One program certain to be given right of way is 'card check' ... trashing the secret-ballot elections that have been in place since the 1930s. The 'Employee Free Choice Act' would convert workplaces into union shops merely by gathering signatures from a majority of employees, which means organizers could strongarm those who opposed such a petition.") The Journal also claims that "taxes will rise substantially, the only question being how high" -- adding he wants to lift or eliminate the cap on income subject to payroll taxes that fund Medicare and Social Security.