"But governments do not "invest," they spend. Such spending can be justified or unjustified. It is wealthy individuals, however, who actually invest their capital in job creation. Most have much less capital than they used to. Under the Obama budget, they would have less still. This does not seem to matter in the economic worldview of the Obama budget. Equality is the goal instead of opportunity or economic mobility. And government, in this approach, is more capable of investing national wealth than America's discredited plutocrats -- meaning successful two-income families, entrepreneurs and professionals.
"This is not merely the rejection of "trickle-down economics," it is a weaening of the theoretical basis for capitalism -- that free individuals are generally more rational and efficient in making investment decisions than are government planners." (Emphasis added)
The putsch of egalitarianism.
Hat tip to John Enright.)