Following the GOP debate that nearly the whole world watched on Saturday night, the president on Sunday made it very clear that he will not back off his class-warfare vision in the coming year. Obama told Steve Kroft on 60 Minutes that middle-class inequality will be his big theme, and that somehow successful earners, investors, and small-business owners are to blame.
The president said that while fat-cat incomes went up 200 to 300 percent over the last few decades, middle-class incomes didn’t grow. This is not true, according to James Pethokoukis, whose blog posts citing various studies show that real median income rose at least 40 to 50 percent.
In any case, whatever the exact numbers, it’s still a mystery to me why successful people getting ahead cause anybody to fall behind. The Jack Kemp idea was always to foster a rising tide that would lift all boats. How can this happen if we penalize success and raise top tax rates on work and investment to 50 percent or more? That’s a mystery.
I should think, in a system of democratic capitalism, that more millionaires are a good thing. Show me a system of redistribution, and I’ll show you a system of economic stagnation.
Elsewhere in the interview the president said he did not overpromise on the results of his stimulus package. But actually, according to the original February 2009 stimulus documents, today’s unemployment rate should be close to 6 percent, not 8.6 percent. The president is now backing off by saying economic recovery is a long-term project that will take more than one term and more than one president.
By the way, Obama told the Today Show’s Matt Lauer in February 2009 that if he doesn’t “have this done in three years, then it’s going to be a one-term proposition.”
Which leads me to this thought regarding the GOP race: Since we basically know what Obama’s vision will be, which candidate will be better at besting Obama and his vision?
It’s going to be a battle between FDR’s 1930s and Ronald Reagan/Jack Kemp prosperity optimism.
I think his saying the recovery will take more than one president lends itself to a nice campaign theme: Obama says the recovery will take more than one president. It will definitely take more than the one we've got now.
Reply to this commentLinkReport AbuseGosh Larry, I can't wait until the top 400 own more than everyone else, not just the bottom 150 million Americans. There is always France 1793. Aristocracy for everyone.
Reply to this commentLinkReport AbuseMiddle class incomes went up from 1970-2010 at least 80%, not the paltry 40-50%. The top 1% incomes went down 32% from 2007 to 2009, making that 250% increase obsolete, now about a 150% increase.The great advantage of liberals is that they get to lie, and the "news media" does little or nothing to expose the lies. In fact, the "news media" reinforces them.
Obama's goal is to turn the US into socialist Europe. We are almost there - dangerously high debt, resulting slow growth, danger of depression, and permanent high unemployment. The labor force is contracting as discouraged workers quit looking, retire, and fade into the woodwork.
The class warfare is pure Marxism.
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