Tax and Spend

It seems like economic fallacies are proliferating faster than ever. For example, we've been suffering terrible food price inflation for a couple of years. Now the drought is causing even more inflated prices of grains, which is causing meat producers to slaughter more animals to keep their costs down. The result is meat prices are staying relatively stable. Unhappy with this situation, Obama is buying a bunch of meat and taking it off the market in order to drive up meat prices, ostensibly to help farmers. But this means everybody else must pay a higher price for meat, making everybody else poorer. This is another transfer of wealth from the American people to meat producers, especially giant, corporate meat producers. And always, the poor are harmed the most.