President Obama's War on the Rich - Granite Grok

President Obama’s War on the Rich

I was very pleased to read in Paul Bonneville’s letter of September 5 in the Laconia Daily Sun (and Sept 6 in The Citizen of Laconia) that he is doing better now than four years ago, so few people are doing better.  He talks about the stock market “recovery”, of course that only helps if you have money and managed to invest in the right stocks.  Perhaps Bonneville is in the 1%?

President Obama’s war on the rich is apparently working as reports are that higher wage incomes are down 15-20 %.  Frankly, I don’t see how that helps me, it certainly doesn’t make it easier for me to pay my bills.  And, I haven’t figured out why I should be happy that any American is less well off. 

The success of President Obama’s war on the rich has come at the cost of an 8% loss in middle class incomes (from about $55000 to about $51000) and about 24 million unemployed or underemployed workers including huge numbers of minority workers and recent college graduates.  I wonder how many unemployed are millionaires or billionaires?  The impact of President Obama’s policies hurt the middle class much more than cutting a millionaire’s income to $800,000 or a billionaire’s income to “only” $800 million. 

I wonder how badly President Obama’s and the liberal’s war on the rich really hurts them as so many rich attend $40,000 a plate fund raisers for President Obama.  Since it is the middle class that is mostly hurt by the war on the rich, one has to wonder if it is a war on the rich in name only, intended only to win support from the lazy, jealous, and gullible.      

Liberals / Progressives claim to be for the middle class and against the rich, but their policies always hurts the middle class much more than the rich. President Obama’s policies are very good at making the middle class poorer.  You should vote to re-elect President Obama if you want the middle class to continue to lose jobs, income and net worth. 

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