Sunday, January 6, 2008

Beware of the populists

George Will takes them on in his column today:

"Edwards and Huckabee lament a shrinking middle class. Well. Economist Stephen Rose, defining the middle class as households with annual incomes between $30,000 and $100,000, says a smaller percentage of Americans are in that category than in 1979 -- because the percentage of Americans earning more than $100,000 has doubled, from 12 to 24, while the percentage earning less than $30,000 is unchanged. "So," Rose says, "the entire 'decline' of the middle class came from people moving up the income ladder." Even as housing values declined in 2007, the net worth of households increased. Huckabee told heavily subsidized Iowa -- Washington's ethanol enthusiasm has farm values and incomes soaring -- that Americans striving to rise are "pushed down every time they try by their own government." Edwards, synthetic candidate of theatrical bitterness on behalf of America's crushed, groaning majority, says the rich have an "iron-fisted grip" on democracy and a "stranglehold" on the economy. Strangely, these fists have imposed a tax code that makes the top 1 percent of earners pay 39 percent of all income tax revenue, the top 5 percent pay 60 percent and the bottom 50 percent only 3 percent."

All very good. But Will's ending is a surprise: "Barack Obama, who might be mercifully closing the Clinton parenthesis in presidential history, is refreshingly cerebral amid this recrudescence of the paranoid style in American politics. He is the un-Edwards and un-Huckabee -- an adult aiming to reform the real world rather than an adolescent fantasizing mock-heroic "fights" against fictitious villains in a left-wing cartoon version of this country."

Slow down, Mr. Will! Have you forgotten Obama's stands on spending and abortion?