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.’
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.