Well-known Economist Offers Advice For “Winning Back Prosperity”

Last evening, Wall Street Journal economist and editor, Stephen Moore, warned a gathering of several hundred college students about the “axis of evil."

However, he was not implicating the threat of nuclear attacks or terrorist activity from Iraq, Iran, and North Korea. Instead, he urged a pressing need to defeat the health care, cap & trade, and card check bills-- “three most dreadful pieces of legislation”--that are presently before Congress.

These keynote remarks were directed at an attentive audience of conservative students that filled the grand ballroom of George Washington University’s Marvin Center. The banquet concluded a full day of events that kicked off the beginning of the Young America’s Foundation’s 31^st Annual National Conservative Student Conference.

The conference brings together college students from across the country, and even a handful of international students, to the nation’s capital in order to train them to uphold the conservative movement by spreading its ideals throughout their respective college campuses. Speakers such as Moore provide critiques of liberal policies and aim to motivate students to action.

In his address, titled “Winning Back Prosperity,” Moore discussed the history and implications of the current economic crisis. He even pointed a finger at Republicans of the Bush administration era for squandering away the $200 billion surplus that had been accumulated by 2000 as a result of the effective budgetary policies of the 1994 Republican Revolution. He suggested that Republicans are in disfavor with voters today because “they were supposed to give us limited government, but instead they decided to spend money like drunken sailors."

Moore also took this opportunity to make a case for tax reform, complementing his speech with various charts, graphs, and economic statistics. In order to provide an illustration to demonstrate his point that the rich pay more than their fair share in taxes, Moore presented a relevant scenario to the students.

“Let’s use tonight’s dinner as an example. So let’s say I split this room in half and everyone sitting on the left side of the podium makes up the rich 1% of the tax bracket and all of you on the right side are in the bottom half of the tax bracket. Then, if I divided the bill between you based on the current tax system, the group on my left would have to pay 97% of the tab, while those of you on my right would only have to pay 3% of the whole bill.”

He wrapped up his speech by offering three suggestions for fixing the economy. He called for an 18% flat tax in which everyone, regardless of income bracket, would pay a fixed rate of 18% on income. Second, he encouraged a cap on government spending, and his final proposition—followed by cheers from obvious Ron Paul supporters in the crowd—is for the US to return to the gold standard.

Attendees showed their support with a standing ovation following his remarks.

In addition to Moore, other notable speakers scheduled to address conference attendees this week include Senator Jim DeMint (R-S.C.), Rich Lowry, Monica Crowley, and Ann Coulter.