Archangel M
Senior Master
http://www.investors.com/editorial/editorialcontent.asp?secid=1501&status=article&id=302137342405551
If the gvt bailing out Wall Street with our money is a bad sign of gvt takeover of the free market and "statism", how much scarier is this thrown on top? Who pays for all of this? The "Rich"? I dont think so....
Obama also talks about "restoring fairness to the economy," code for soaking the "rich" — a segment of society he fails to understand that includes mom-and-pop businesses filing individual tax returns.
It's clear from a close reading of his two books that he's a firm believer in class envy. He assumes the economy is a fixed pie, whereby the successful only get rich at the expense of the poor.
Following this discredited Marxist model, he believes government must step in and redistribute pieces of the pie. That requires massive transfers of wealth through government taxing and spending, a return to the entitlement days of old.
Of course, Obama is too smart to try to smuggle such hoary collectivist garbage through the front door. He's disguising the wealth transfers as "investments" — "to make America more competitive," he says, or "that give us a fighting chance," whatever that means.
Among his proposed "investments":
• "Universal," "guaranteed" health care.
• "Free" college tuition.
• "Universal national service" (a la Havana).
• "Universal 401(k)s" (in which the government would match contributions made by "low- and moderate-income families").
• "Free" job training (even for criminals).
• "Wage insurance" (to supplement dislocated union workers' old income levels).
• "Free" child care and "universal" preschool.
• More subsidized public housing.
• A fatter earned income tax credit for "working poor."
• And even a Global Poverty Act that amounts to a Marshall Plan for the Third World, first and foremost Africa.
His new New Deal also guarantees a "living wage," with a $10 minimum wage indexed to inflation; and "fair trade" and "fair labor practices," with breaks for "patriot employers" who cow-tow to unions, and sticks for "nonpatriot" companies that don't.
That's just for starters — first-term stuff.
Obama doesn't stop with socialized health care. He wants to socialize your entire human resources department — from payrolls to pensions. His social-microengineering even extends to mandating all employers provide seven paid sick days per year to salary and hourly workers alike.
If the gvt bailing out Wall Street with our money is a bad sign of gvt takeover of the free market and "statism", how much scarier is this thrown on top? Who pays for all of this? The "Rich"? I dont think so....