BIDEN BELATEDLY WANTS TO “CUT THEM BACK INTO THE DEAL”
This website has written extensively regarding the plight of the American middle class under the administration of Barack Obama.
“Our top priority as a nation and my top priority as president must be doing everything we can to reignite the engine of America’s growth – a rising, thriving middle class,” Obama said in a 2013 radio address. “That’s our North Star. That must drive every decision we make.”
Well Obama has been driving the middle class … squarely into a ditch.
The era of obscenely big government is bankrupting this country … and yes, the center cannot hold. And yes, it’s not just Obama the welfare statist who deserves the blame … “Republican” warfare statists and crony capitalists are every bit as responsible.
Anyway … in response to last week’s underwhelming jobs report, U.S. Vice President Joe Biden has come to the conclusion that it’s time to try something different. Specifically, he seems to be embracing the “make it rain” approach to money printing (i.e. debasing the currency to benefit the middle class as opposed to the “one percent”).
According to Biden (who gave the Obama administration’s weekly radio address over the weekend), it’s time to “cut the middle class back into the deal” – which according to him means imposing a tax structure that values paychecks as much as “unearned income” and “inherited wealth.’
Hmmmm …
Couple observations here: First of all, it should be abundantly clear from Biden’s remarks – offered toward the tail end of Obama’s sixth year in office – that the middle class has been cut out of the deal. Not only that they – and their future generations – have been saddled with the cost of bailing out the poor on one end and the uber-rich on the other.
Second, Biden clearly needs a refresher on the bipartisan “fiscal cliff” tax hike – which raised taxes on payrolls, too. Where was his concern for the working man’s wages then?
More to the point: When Biden speaks of a fairer tax structure, we agree with him … in principle. Government needs to completely scrap its unfair, discriminatory tax structure (and its crony capitalist handouts) and apply a flat consumption-based tax structure that treats everyone in the marketplace evenly.
Of course that’s not what Biden is envisioning … he’s instead looking at raising taxes on “unearned income” and “inherited wealth.”
Translation? Nobody’s getting “cut back into the deal.” Government is simply taking a little bit back from the elites it has been bailing out.
26 comments
Has there ever been an example where raising taxes on the wealthy created/expanded a middle class?
Yes, that was the case from about 1933 through 1980.
No.
But it does create an upper middle class of tax accountants.
Obama has been shipwrecking the middle class, and so has Lindsey Graham. Just look at Graham’s record helping South Carolina’s middle class. He has done nothing. He is always focuses on war and killing. We need change really bad. We are going no where with Graham, unless you like killing and war.
War and killing is the Empire’s employment (and it gets you edu-ma-k-shun credits too). And miss Lindsay gets to play with even more soldiers. *tittle giggle*
Are you people out of your mind. The middle class has been getting screwed since the 1980s. Trickle down economics, unrestrained free trade, and the repeal of Glass Steagall has almost killed the middle class in this country. Left to their own devices, the Republicans would drive the final nail in the coffin of the middle class by killing Social Security and Medicare.
The middle class in this country is in fact better off now than they were when Bush left office. This Fake News crap that Obama has hurt the middle class is just that, crap.
Yeah, the middle class is killing it now.
The middle class has been screwed since the 1980s. I am not saying the middle class is killing it. I am saying they are better off today than they were in 2008.
lol. Once the herd was thinned, I have no doubt the few remaining middle classers are doing ok.
You have statistical data to back this up?
Jesus Christ you people live in a bubble and have a very short memory. What data do you want. In 2008 the economy was sheading 500k+ jobs a month. Now we are creating 200k+ jobs a month. Housing prices are higher. The stock market is higher. The unemployment rate is lower. GDP is higher. No one is saying we are where we want to be, but to argue that the middle class has gone downhill under Obama is just stupid. There is absolutely no statistics to show that.
Would you like to see a report on my net worth, it’s been reduced by 25% since Obama took office. Sure that’s purely anecdotal, but the numbers don’t lie.
Yes its anecdotal, because my net worth took a nose dive under Bush and has recovered significantly since he left office. My retirement plan is way up, the value of my house is up, and my business income is up.
The middle class in this country is in fact better off now than they were when Bush left office.
Technically correct. Bad -is- better than horrible.
That being said, Obama has not been good for the middle class at all, and Hillary Clinton won’t be either. Both are bought and paid for by Wall Street and the financial sector. Look at Obama’s 2008 donors compared to Romney’s 2012 donors.
We need actually liberal Democrats and sane conservative Republicans, not a bunch of bought and paid for clowns with a spotting of extremists.
I would donate money to buy 535 bus tickets from DC to …. anywhere else.
Since Obama took office I’ve lost my job, I was forced to close a retail business and I’ve been underemployed since 2011, settling for a position making the same money I made 10 years ago. Lucky for me I prepared myself for the workforce, and am still technically in the middle class, but it’s been a struggle to maintain with about $30k less in my revenue stream.
I’d also like to say there’s a noticeable silence from the usual libtard trolls.
You are clearly a fucking imbecile.
The usual retards upvoting this moronicism.
It’s just a matter of time before another cheerleaders comes on a tells everyone the stock market is at an all time high and everything going well.
I’ve got any idea.
Abolish all federal income tax on the ‘smoke stack’ industries, and see if that brings them back to the United States.
Even better: Abolish the IRS altogether.
Middle class would have much more disposable income, and that Would bring them back.
Let’s do the libertarian thing – sell the country to the rich.
Too late, they already own it.
If they owned it, Cheney would shut the fuck up.
They own about 45% of it. Still a lot more to acquire.
I think the middle class in SC is about the same as it has always been. There will always be those who fall out, and go lower, and a few who break out and go higher. We know textiles are gone. We know the internet is a big deal. We know that organic, and “home grown” show opportunity. I think in order to succeed, you have to break from the pack. Get educated as much as possible. Use your connections. Get a feel for the economy and environment where you live. Start a business that makes sense. We do not need another sign company or another package shipping company. Open a restaurant. Reburbish old homes. Start a blog. Write a book. Turn what you love into a business.