Obama '08?

More than $70 billion in wealth left New Jersey between 2004 and 2008 as affluent residents moved elsewhere, according to a report released Wednesday that marks a swift reversal of fortune for a state once considered the nation’s wealthiest.

Wealthy residents are a key driver for everything from job creation and consumer spending to the real estate market and the state budget, said Jim Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University. In New Jersey, the top 1 percent of taxpayers pay more than 40 percent of the state’s income tax, he said

When we finally get to the point that the entire economy consists of (unionized) government employees, we will realize we can't pay for it all merely by taxing a portion of their salaries.

Wealth and economic energy seek lower taxes, and , like it or not, we exist in a competitive global market for taxation. Just as New Jersey loses to neighboring states with lower taxes, this country stands to lose economic power to other nations with lower taxes.

Is their anyone naive enough to believe that tariffs work?

Is their anyone naive enough to believe that tariffs work

Your idea isn't working well in New Jersey... or in California for that matter.

Most of the US textile and steel industries has moved to Asia. A good deal of our manufacturing has gone to Mexico and, to a lesser extent Brazil. Indian companies are taking over our IT industry. Electronics manufacturing left long ago - the last surviving company, Motorola is being broken up and sold off in pieces now.

In all of these cases it was lower labor costs and lower taxes that did the trick - all accelerated by intransigent labor unions that short-sightedly resisted productivity-enhancing investments and improvements, by companies, struggling to survive here.

It turns out that they have little difficulty in leaving in sufficient numbers to wipe out the tax base on which you pin your hopes.

By the way ... did you read my comments about the Gallup poll data a couple of pages back. It turns out your claims were contrary to the facts you cited.

What goods coming into the U.S. would you like to see tariffs put on? And what manufactured goods that we export from the U.S. would you be willing to see other countries put tariffs on to make our stuff more expensive?

While liberals were arguing about public plans and this or that, and while Obama was deep into inside dealmaking, the conservatives relentlessly made a straightforward public case based on a syllogism: The economy is a mess. Obama and the Democrats are for big government. Big government is responsible for the mess. Therefore the mess is the fault of Obama and the Big Government Democrats.

Simplistic and misleading? Absolutely. But if liberals and Obama are so smart, how did they -- or, if you prefer, "we" -- allow conservatives to make this argument so effectively? Why do the mainstream media give it so much credence?

Of course, I think the conservatives' argument is wrong. But at this point, I have to admire their daring and discipline. Moderate and progressive Democrats alike have eight months before this fall's elections to change the terms of the debate and prove they can govern. Otherwise, they'll be washed out by a tidal wave.

Huh? I hope you are kidding, because if you aren't, and you are an example of decision makers in this country, we are in very very serious trouble, worse than I ever dreamed.