It is common among the leftist elite, including the MSM, to question the intelligence of Republicans. They’ve been doing it at least as far back as Calvin Coolidge. Democrats are assumed to be intelligent.
Watch this video of Nancy Pelosi explaining economic issues.
She makes two jaw-dropping points.
1. Rich people have no rational reason to want to keep their money from being taken by the state and redistributed to the less wealthy. They must want to keep their money because they want immortality.
Pelosi does not understand that investment and growth depend on savings. The more capital one accumulates, the more he can use to create values. Every venture, from founding a factory to a corner lemonade stand, was started by accumulated wealth.
More money means more values to achieve. You can’t have too much money any more than you can have too much health.
When the state takes money from the rich it is used less efficiently. Almost three quarters of welfare spending goes to the bureaucracy. As a consequence, everyone’s standard of living declines. Money that might have gone to new inventions, scientific research, devices to make homemaking easier, ballet companies — you name it — goes instead to Washington, D.C., where it is wasted. If statists really wanted people to be better off and happier, they would get out of the way; somehow, this is the one thing they never do.
2. Republicans oppose the minimum wage in order to keep the poor in debt because that means more fees to bankers.
Pelosi does not understand that a minimum wage destroys jobs. It hurts young people at the beginning of their productive life, and inculcates the habit and expectation of dependence on the government — which the statists really want.
Moreover, if the poor work, then they accumulate wealth. Where do they put that wealth? Why, they put it in banks, which helps the banks more than any piddling fees the poor might pay on loans, if banks gave loans to starving people in the first place.
Nancy Pelosi has obviously never read a good economics book. Her ignorance makes her think those who oppose greater state control of the economy must be bad people.
Nancy Pelosi is one of the five most powerful people in America, and she is stupid. Really stupid. So stupid it’s scary.
UPDATE: Minor edits.