Obama’s New Declaration of War…on the rich

“President Obama’s senior staff laid out his proposal to control the federal deficit while creating jobs Sunday night. The plan claims to cut more than 4 trillion over the next decade, largely from a $1.5 trillion increase in taxes targeting the wealthy.”

These are the opening lines from Massimo Calabresi’s article entitled, “Obama’s Tax Plan: ‘Fair Share’ vs. ‘Class Warfare’?” on Time.com.  While I appreciate the author’s attempt at balance, evaluating both viewpoints along the way, I cannot help but think the overall point is missed.

Asking whether President Obama is engaging in class warfare is a bit like asking whether the pope is Catholic.  He’s draped in it.  We need to catch up a bit and recognize that the class battle has been raging for some time now.

Even Calabresi’s article admits that the wealthiest 1% of Americans pay nearly 40% of the entire national tax burden, “while the bottom 50% paid only 3%.”  Our President’s posturing?  “The rich need to pay their fair share.”  1% paying nearly 40% is fair?  No, our President demands more.

The ultimate and deadly irony here is that President Obama expects to level $1,500,000,000,000 (you need to see the zeros) of new taxes against the wealthy – the big business owners and investors of our nation – and create jobs.  The people clobbered with these taxes are expected to pay up and still find funds and capital to expand their business and create new jobs?

Karl Marx said, “The class struggle necessarily leads to the dictatorship of the proletariat” (the working man).  What are we witnessing, if not this?  The proletariat, through the edicts of our President, are becoming the dictators of America.  Budget problems?  Don’t cut spending, tax the rich.  Deficit problems?  Don’t end unconstitutional government programs, tax the rich.  Unemployment rising?  Create more government regulation for businesses, punish those who do not obey your mandates, and tax the rich.

We are not heading down the road of class warfare, we are neck-deep in it.

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6 thoughts on “Obama’s New Declaration of War…on the rich

  1. Here’s one of my favorite quotes from Doug Wilson:

    “Unscrupulous demagogues then arise and promise to make the rich pay their ‘fair share.’ This is a complex and long-standing ritual in which the poor are fleeced in the name of fleecing the rich. The poor allow it to happen because they are blinded by their envy. Any man seeking control of the engines of the state, the better to accomplish his plundering, always promises to make the great businesses pay taxes – and the envious man cheers. But of course, no business ever paid a tax without passing it on to the consumer, and so the envious man finds himself paying for the pillage he ardently supports.”

  2. Great analysis! And though the current excesses are legion, this one deserves inclusion as well: Working people (Amish inn the latest outrage) enjoying a simple life and pretty much minding their own business, send in the Federal SWAT Teams to take their milk.

  3. The Laffer Curve is a simple but effective representation of the relationship of tax rates to tax revenues. The Heritage Foundation has a neat article on the details of the calculation, but essentially there are two relationships between rates and revenues: arithmetic and economic. Tax junkies like those (all of those) we have working on the other side of the Potomac see the negative impact that lower rates have on the former relationship, but are blind to the positive impact of lower rates on the latter.

    http://www.heritage.org/research/reports/2004/06/the-laffer-curve-past-present-and-future

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