Posted on 04/11/2012 5:27:01 AM PDT by suspects
Who wants to be a millionaire?
With Barack Obama in the White House — nobody. He has declared the hard-working and successful America’s Enemy No. 1.
“Tax the rich to grow the economy” was USA Today’s headline on the president’s “Buffett Rule” speech. His premise isn’t merely that wealthy people aren’t “paying their fair share,” but rather that not shaking them down for more money is somehow keeping you from finding a better job.
“What drags down our entire economy is the growing gap between the ultra-rich and everyone else,” Obama said yesterday.
The president is right about one thing: Our economy is being “dragged down.” According to economist Larry Kudlow, by this point in the Reagan recovery, the economy was growing at 6 percent and we were creating half a million new jobs a month. Last month we created a pathetic 120,000 jobs and are growing at less than 2 percent.
Some of us mean-spirited, flint-hearted conservatives think what’s dragging us down are Obama’s own policies: the massive re-regulation of the economy by the Environmental Protection Agency, the National Labor Relations Board and, of course, Obamacare. Our crazy theory is that making it harder for businesses to grow keeps them from, you know, growing?
Sounds crazy, I know.
Obama says the problem is “millionaires and billionaires” doing that evil thing the top 1 percent do that keeps the rest of us poor and struggling. You know, like paying 37 percent of the total federal tax bill! Uh . . . donating billions each year to charity! Or maybe attending $10,000-a -plate Obama fundraisers!
Well, whatever it is, Obama knows it’s some millionaire’s fault that you can’t find a job. And he's gonna...
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This entire theme presents a false dichotomy. Some folks get wealthy while making go of a business that sells products and services to willing consumers in a free market. Others get rich ripping off others, through political connections, or a complicit board of directors or some such, or operating a protected business in a line of work created through law or regulation or some other government action that none of us actually want. The latter are a growing drag on the economy and are a goodly fraction of the wealthy these days, and we resent them the same way we resent anything about the government perverting the operation of the economy, and justly so. The solution, is not even more government, but less. The solution is also not to adulate and defend those who got wealthy in this manner.
Yeah, but the 95% that do pay to play with government officials make the other 5% look bad.
Funny how those ‘fat cats’ in the Political Class (those whose business model is protected by government edict) aren’t discussing Obama’s ‘Buffett Rule’.
I think the proper proposal would be to cut all ‘incentive carve outs’. Government shouldn’t pick winners and losers.
Funny how those ‘fat cats’ in the Political Class (those whose business model is protected by government edict) aren’t discussing Obama’s ‘Buffett Rule’.
I think the proper proposal would be to cut all ‘incentive carve outs’. Government shouldn’t pick winners and losers.
Buffet is a hypocrite. He says he should be paying more, but has many lawyers and accountants fighting to reduce his tax bill. If he wants to pay more, he should just stop taking the deductions or simply write an additional check. Levin had it right yesterday. He said the middle class will starve and be homeless, at the hands of our government, all in the interest of punishing the rich.
The 2010 elections seemed to me to prove that a plurality of the voting populace had rejected the liberal claim that punishing the “rich” through tax policy would somehow lead to a better economy. Even the prized “independents” and younger generations sense instinctively that this is wrong, and the polls show this to be true.
Yet Obama is doubling down, still, here in 2012.
I suppose he has nowhere else to go but to attempt to get enough voters who already suck on the government teat to get out and vote for him.
I don’t think it’s going to work.
Very interesting b/c the dem party which has held the Congress more often than not came up w/ all the tax dodges the rich use. Now they want to blame, even demonize, the wealthy for using those dodges? Hasn’t Barry himself been enriched that way and his buddies too? Seems wrong to me...
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