Ideology is trumping good sense. The stock market crash (and indeed, it now is) has wiped out 10 Trillion dollars. Not only has Geithner looked like a fool (he proved he could not master Turbo-tax yet is Obama’s point person to get us out of this mess?) but Obama simply dismissed the stock market’s evaluation of his policies.
After all, the Obamessiah can do no wrong, right. Well, at least in his own eyes…
Yes, I am banging on Obama’s door again – everywhere I look, the traditional American values and systems are being torn about by a Marxist and his tax avoiding henchmen. Again, it is all about control – even as the free market is passing judgement upon his policies, Obama wants us to believe that the destruction of wealth is merely the failure of the free market.
After all, he’s just using Alinsky’s rules – ID it, demonize it….marginalize it to the point where it cringes and gives in. The hubris is overwhelming – the idea that one person, even as smart as Obama is, knows more than the millions of people judging his economic policies (or lack thereof) is stunning. Along with Geithner, I am starting to believe that Obama has fulfilled his Peter Principle position – he is way in over his head.
Or this is all deliberate – and I can believe that as well. Doug Ross sums it up well:
Consider that, in the teeth of a devastating recession, Obama has:
- Raised taxes on small businesses, the engines of entrepreneurship and job growth
- Raised the capital gains tax
- Lied about "tax cuts for 95% of Americans", offering instead $13 a week, achieved not through tax cuts, but by changing the federal withholding tables!
- Destroyed charitable giving by axing the tax breaks for 26% of all giving (or $81 billion in 2006)
- Proposed a carbon cap-and-trading scheme designed to punish oil companies and further tax consumers
Why would Obama inflict these destructive policies while the economy is collapsing? Simple. Each step strengthens the role of government in people’s lives.
- Squelching the stock market kills its attractiveness as a parking lot for private capital. Combined with an increase in the capital gains tax, investors will swarm to bonds — tax-free vehicles like municipal bonds, which benefit the growth of state and local government. And unions, of course.
- Carbon cap-and-tax will raise taxes on all Americans as the cost of goods and services will increase to address a non-existent threat.
- True tax cuts would grow the economy, which is why, of course, Obama shuns them. The last major recession was Jimmy Carter’s malaise. It consisted of of double-digit inflation and unemployment. It was finally licked by across-the-board tax cuts for everyone (even the despised rich), which touched off a twenty-plus year run of prosperity.
- Charities reduce the role of government assistance for those in need. That, in Obama’s world, can not be tolerated. That is why charities must be choked off and allowed to die. Especially faith-based institutions.
The only plausible explanation is that Obama’s destruction of the economy is intentional.
Again, it is a race to the bottom; Obama knows that if he can kill off or choke off everything else, people will only have Government to rely on.
Just the way he wants it – Government in control with no competition. Just like Stalin, Mussoline, and Hitler, Mao, and Pol Pot. Tyrants all who craved control above all.
Ask yourself – what policy has Obama brought forth that enhances personal liberty free from government entanglement?
(H/T: Instapundit)
