Posted on 07/18/2011 9:00:48 AM PDT by opentalk
Over the past several weeks, America has seen on grand display in Washington a singular mindset emanating from the White House: We must raise taxes so that we can keep on spending. This week, though, America was treated to something different—a glimpse inside President Barack Obama’s mind, a roadmap of his economic worldview. And what was revealed was a philosophy that is fundamentally at odds with America’s job creators.
That insight came during the President’s press conference on Monday in which he broached the subject of raising taxes as part of the debt limit deal:
And I do not want, and I will not accept, a deal in which I am asked to do nothing, in fact, I’m able to keep hundreds of thousands of dollars in additional income that I don’t need, while a parent out there who is struggling to figure out how to send their kid to college suddenly finds that they’ve got a couple thousand dollars less in grants or student loans.
If you read between the lines, which doesn’t take much decoding, President Obama effectively believes that any income you have which you don’t “need” belongs to the government, as writer John Steele Gordon explains in Commentary. And, Gordon writes, Obama’s statement “demonstrates an astonishing economic illiteracy”:
To be sure, someone earning a great deal of money has an income greater than what he spends. . . But, unlike Scrooge McDuck, the rich do not put the excess in a vast money bin and frolic about in it. They invest it. What a concept! Where does Obama think new capital comes from, the tooth fairy?How much income is too much?
(Excerpt) Read more at blog.heritage.org ...
How can a guy who supposedly studied economics in college be “economically illiterat”?....sarcasm/off...
That decision is above and perpetually beyond his pay grade.
After all, we the taxpayers are paying for everything for him and his gold digging family.
I think he knows this and he's trying to harm us as much as possible. I really do.
He is going to make a play for the government seizure of people’s IRA’s and 401k’s.
Karl Marx would be so proud.
Like Howard Cosell used to say, "You can't have too much money."
I don’t buy the argument that 0bama doesn’t understand basic economic principles. In fact, I bet he’s counting on them. He’s looking to destroy the economy, while blaming capitalism and corporate greed as the culprits (with help from his buddies in the MSM). Take his statement about how businesses should just hire people. The message is not that his administration has created a hostile business environment, but rather greed business people are just keeping all the profits for themselves!
I believe he aims to fundamentally change our economy into a socialist/fascist government run, centrally planned utopia. The man truly hates America, its past and present, and is doing his best to change its future to something more ‘civilized’ in his mind. Of course, he knows that it requires an englightned class (i.e., him and his fellow Democrat politicians) who because of their superior contribution to the overall welfare of the state and the people deserve a few extra perks. Like flying on the biggest baddes private jet in the world...
Obama is the grasshopper in the old story about the grasshopper and the ants.
Well you are brilliant Obozo! I suggest you use that money you don’t need to buy the fuel you use when flitting around on Air Force One! And limit your flitting around on OUR Plane to the fuel you can afford. Obozo, can you say grounded?
Yeah, would like to know what he deems to be money we don’t need. Maybe we should all make a run on the banks and investment institutions, pull our money out and hide it in the rafters. I don’t trust this SOB as far as I can throw him.
The real Obama, very creepy. The MSM powers will not cover it. Elizabeth Cheney brought it up on a Sunday morning show. It shows how dangerous this administration is.
I love that statement. So true. :)
Vote this piece of crap out!
Because he studied Marxist Economics?
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