Don’t Get Rich!
As part of his ongoing desire to “spread the wealth around,” President Barack Obama keeps thrusting his grubby paws into the pockets of the wealthiest Americans to pay for massive bureaucratic expansions that will ostensibly aid the poorest Americans.
Nothing like an “easy sell.”
Never mind that bureaucracies in America serve the poor about as well as gang violence or crack cocaine … but hey, government is fighting “wars” against those evils, too.
So relax, right? Big brother has got it covered.
Anyway, Obama’s latest theft … err, plan … is to shift another $60 billion from the private to the public sector by “tightening rules for inheritance taxes affecting the wealthiest estates.”
At least that’s how Obama’s teleprompter regurgitators at the New York Times described the plan.
The $60 billion is necessary because Obama has to figure out how to “fully fund” his massive socialized medicine plan, and his previous idea of “limiting deductions” for top income earners came up short – only ripping $266.7 billion out of wealthy pockets when the Obama horde was expecting to steal as much as $318 billion.
Tens of billions here, tens of billions there, right?
At every turn, though, Obama is sending a clear message to Americans:
“Don’t get rich – or else we’ll take it.”
And not only will they take it away from you while you’re alive, they’ll reach beyond the grave and take as much as half of what you planned to pass on to your children and grandchildren – money that you’ve already been taxed on!
As they systematically dismantle the private sector’s ability to survive, Obama’s commie goons are playing literally deck upon deck of race cards and populist “class warfare” cards.
Hell, reverse racism and class warfare are underpinning virtually every financial calculation this administration makes.
But lurking just beneath all that white-collar hate and corporate demonizing is an ugly, and unfortunate truth – Obama is starving the very economy he so desperately needs to start firing on all cylinders.
That’s because rich people – albeit easily castigated – create jobs, whether by direct capital investment, equity investment or (gasp) government investment.
They also create jobs and opportunity through charitable giving – an industry Obama’s new “deduction limitation” regs would effectively shut down.
You see, when America takes money away from the rich it’s not just depriving them of “bigger yachts and swimming pools” (the old liberal standby), it’s taking away jobs and economic growth from the rest of us.
It’s also totally disincentivizing wealth creation and removing a fundamental driver of our capitalist … err, former capitalist system.
Of course, that could very well be the whole idea …
Comments
By Pat Hendrix on May 12th, 2009 at 9:27 am
“Hell, reverse racism and class warfare are underpinning virtually every financial calculation this administration makes.”
What an absolute pile of unmitigated bullshit. The lion’s share of public money hasn’t gone to poor people; it has gone to Wall Street – the same rich people that drove our economy into the ditch by creating credit default swaps and dismantling Glass-Steagal so they could squeeze the equity form your home. In effect, what both parties, Bush and Obama have agreed upon is that gains are private for Wall Street and losses are public. That’s not communism, its mercantilism. And since we are talking about the “redistribution of wealth,” I’d suggest you look at the real disparity of wealth over the past two decades. The rich in America have never done so well, while the middle class has seen its medium income stagnate or decline.
But rather than deal in facts, you resort to the same tired playbook that has turned the Republican Party into the Whig Party of 21st century – a deeply unserious, regional party. Just hope everyone forgets that TARP passed during the last administration or that the vast majority of the national debt was run up during Republican Administrations, or, hell, the list goes on and on.
Just call Obama a communist and hope it sticks. Better yet, call him Republican then you know nobody will vote for him.
By roofus on May 12th, 2009 at 9:32 am
Bingo, fits!
My ancestors immigrated to America in the early 1900’s in search of greater economic freedoms for their children. Now I’m considering emigrating from America as I fear that my children will not enjoy the same economic opportunities that my generation has taken for granted.
Let’s face it, our kids are gonna get stuck with paying for our numerous “bail-outs” and the future of capitalism ain’t so bright in the USA.
By randee on May 12th, 2009 at 11:12 am
Billions for paid “volunteerism”… Billions for the criminal organization ACORN… Hundreds of millions to bail-out rich pro-Obama Hollywood studios… Firing the president of GM, a privately-held company… Intimidating investment banking firms with the threat of blackmail viz a viz the “White House Press Corps”… White House control over the 2010 census… Gov’t takeover of health care…(Yet keep the borders open at all costs)… Untold billions of dollars cap and trade taxes…Proposing to de-fund government insurance for wounded vets…
yep, obama’s the real deal! Fighting for the little guy, as always…
By Pat Hendrix on May 12th, 2009 at 11:12 am
Roofus,
Not that I want to discourage you, but what country did you have in mind? Certianly not Europe, they’re worse than our resident communists. China, well, okay, yeah, they’re capitalists. They also work for slave wages and corruption is systemic. And let’s face it, you probably don’t speak mandarin. I think you could apply this logic to all of Asia.
How about Russia? I think that’s a bangup idea. You would have great vodka, a government that runs like the mafia and the economy of Bangladesh.
If I were you, I’d look at Costa Rica. Warm weather and they only pay 30 percent in corporate taxes. Steep VAT taxes, too. Still, damn nice place and the Ticos are fantastic people. You could even learn to surf.
Maybe Estonia.
Either way, good luck.
By roofus on May 12th, 2009 at 11:53 am
Pat,
I appreciate your suggestions. I’m still researching. Right now I’m thinking Israel, Australia, New Zealand, and possibly Chile– in that order.
By Pat Hendrix on May 12th, 2009 at 1:02 pm
Israel has it’s own set of – cough – issues. You have little chance of going to Australia or New Zealand. Both have very tough immigration standards for non-Commonwealth countries. Chile, I have no idea.
Costa Rica really is nice. I’ve thought about moving there myself.
By Crooner on May 12th, 2009 at 1:40 pm
The rich don’t give a fuck about creating jobs. Aren’t you old enough to have seen “Wall Street” with Michale Douglas and Charlie Sheen? Spreading the wealth raises the standard of living for all Americans- not just the top 1%.
Besides, that’s exactly what we elected him to do. Remember Joe the Plumber? He told us that’s what was going on and we voted for him in droves.
By abc on May 12th, 2009 at 1:45 pm
no, pat. stay here. costa rica would provide no big brother to TAKE CARE of you.
By Eric on May 12th, 2009 at 2:30 pm
Roofus you could look into Hong Kong – English is spoken widely there. Also, in a few years Canada will be more capitalist than us and that’s not much of a move. If you are willing to give up on some of your social liberties Dubai might be another cool place.
By GGIH on May 12th, 2009 at 3:22 pm
Canada is very cold.
By dusk mccoy on May 12th, 2009 at 4:20 pm
Roofus,
Go to Israel. You are much safer there. Trust me.
By John M on May 12th, 2009 at 4:46 pm
It’s not “reverse racism”, it’s just plain old racism.
Also, check this out when you get in a tax argument with anyone who hates the rich: http://www.youtube.com/watch?v=Gv4OeKmWjOI
By Brian on May 12th, 2009 at 7:44 pm
This is stupid, to tax the people who make a capitalist society work. You just can’t jump to socialism like this. Why work for anything more than what only I need? If I ever find myself with any kind of extra money in my pocket, I’m gonna bury it in the ground so it won’t be taxed!
By louis on May 12th, 2009 at 9:07 pm
Brian,
Join the Democratic Party. Democrats are notorious tax cheats. Obama has 5 tax cheats in his Cabinet. You don’t have to pay taxes if you are a card-carrying Democrat.
By liz on May 13th, 2009 at 6:59 am
Roofus. I agree ,go to Israel. Doesn’t seem possible but you are safer there than here. At least our best history book implies Israel will survive all hard times.
Obama is continuing Bush’s theme of taking from the poor to give to the rich.
Maybe people will soon stop believing in Republicans and Democrats because in reality, there’s no such thing. Unfortunately, in DC there is a rich group of people who transcend these lines and make all decisions.
I believe they are supported by Fidelity Management and Research.
If you know how to use Edgar on the SEC website, go look at FMR, LLC.
FMR had beneficial ownership statements on Tyco, WorldCom and Enron and Circuit City.
They also have beneficial interests in GM. Chrysler, AIG,Wells Fargo, Fannie Mae and Freddie Mac.
Obama ain’t in control. FMR= America=singular rule=criminal corporate rulers.
By Pat Hendrix on May 13th, 2009 at 8:31 am
Hey ABC,
I find it curious that every conservative in America thinks anyone who sees the world different than they do is an obvious ward of the state. Let me assure you that’s not the case. I’m a well paid professional that has never taken a dime from the government and I pay between over 30 percent in federal taxes. So spare me the bullshit about welfare and try an argument not cemented in the idiotic talking point of Limbaugh disciples.
By Pat Hendrix on May 13th, 2009 at 8:41 am
John M,
Thanks for proving my point: The video shows a stat showing the top 1 percent paying 23 percent of income taxes – the top 1 percent owns approximately 38 percent of all wealth. Seems like a damn good deal to me. Besides, you can only arrive at those numbers if you exclude FICA, an income tax of 6 percent that everyone pays. Then there is excise taxes, etc. By excluding these taxes, you can create a completely bogus number. Then consider the fact that our taxes are still very low compared to the rest of the western world and far below what we’ve paid over the past 70-80 years. Obama is talking about raising the top marginal rate back to where it was in the 1990s, about 3 percent higher, and you lunatics are talking about succession. Give me a break. I bet there aren’t ten people on this board who crack the 250k mark.
By Be Careful What You Ask For on May 13th, 2009 at 5:47 pm
Of all tyrannies, a tyranny exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies. The robber baron’s cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience.
—C.S. Lewis