President Obama paid lip service to America's spirit of entrepreneurship in his jobs proposals this week, but his policies will turn the US into France instead of a 21st century rival to Asia, warns Daniel Henninger. Entrepreneurship involves some people getting extremely rich, and that's something the Democrats just don't like, Henninger writes in the Wall Street Journal.
The world's highest corporate tax and the coming health care taxes will stifle entrepreneurship, Henninger writes. "A nation can't have its entrepreneurs and eat them, too," he notes. The Obama administration seems to think America can sustain a "mammoth welfare state" and still compete with China. "This is a pipe dream," Henninger warns, and while Obama's proposals may create enough jobs to save some Democratic candidates next year, they won't save the country.