Expect More Unnecessary Government Intervention

"I'm a Democrat. But I believe what Republican Abraham Lincoln believed: That government should do for people only what they cannot do better by themselves, and no more." ~ President Barack Obama 2012 State of the Union Address

No surprise, I agree with President Obama on this point, with one important difference. President Obama believes the government can do everything better than people can and I believe that people can do most things better for themselves. 

The Obama administration wants to be involved in many things that people could do for themselves.  For example, in January 2014, individuals will have to purchase health care insurance or pay a fine of up to 1% (rising to 2.5% in 2016) of income, with a $2085 family limit. In January 2011, the manufacture of incandescent light bulbs began phasing out because consumers were not buying the higher efficiency light bulbs that cost more. Recently, the government has effectively eliminated the majority of tax refund loans on the premise that the IRS would shorten refund times.

In contrast, I think the people should have the freedom to choose what to do when it doesn't impact another  person's right to life, liberty and the pursuit of happiness.  People should be able to choose how to pay for their health care including whether or not to have health insurance. ( I have health insurance coverage.)  People should be able to choose whether to buy an incandescent, CFL or LED bulb.  (I prefer incandescent bulbs.)  People should be allowed to get a tax refund loan.  ( I avoid short term loans due to the high interest.)

However, based on President Obama's statement, I expect the Federal government to take a greater role in doing more things for people that I think we can do for ourselves.  I wouldn't be surprised if we were all required to buy GM cars in the future :-)

For more on New Beginnings, check back every Sunday for a new segment.

This is not financial or policy advice. Please consult a professional advisor.

Copyright © 2012 Achievement Catalyst, LLC