Dumbo’s economics, It seems obvious that Dumbo b/k/a Barrack Obama doesn’t know much, if anything, about economics. Dumbo does seem to know how to play the class envy card. from Matthew Continetti, Weekly Standard [1]:
What’s more, President Obama’s arguments for the tax hike are unpersuasive. He says an extension would add to the deficit, wouldn’t be fair, and wouldn’t help the economy. The deficit argument is laughable. The cost of extending tax rates for the poor and middle class dwarfs the cost of extending them for the rich. A president serious about fiscal austerity would want all of the tax cuts to expire, or propose offsets in spending. Obama doesn’t support either option. He isn’t serious.
Obama isn’t serious because he thinks fairness is more important than fiscal responsibility. What’s fair? Obama says households making more than $250,000 don’t deserve tax relief because the past decade has left them well off. He’s the cop who’s arrived to break up the rich people’s party. But Obama never explains just how the gains at the upper end of the income distribution have hurt the rest of us. Maybe that’s because he can’t. The market is not a zero-sum game. Earning an additional dollar is not the equivalent of theft.
Now I’ll grant you that fair exist as a concept. The problem is in the political arena, the meaning of fair is impossible to define. What is the magically property which makes not raising taxes for those making less that two hundred fifty thousand dollars, but raising taxes for those make more than two hundred fifty thousand dollars somehow fair? How did Dumbo arrive at this figure or did just pull out his elephant sized distal end?
I say the name supporting tax increases for somebody else to pay is not fairness, but rather greed. What say you?
Dumbo needs some new speech writers, Dumbo’s speeches are more cliche ridden than a John Wayne movie, from Politico [2]:
President Barack Obama on Saturday sought to fire up his most loyal base of support, telling the audience at the Congressional Black Caucus Foundation’s annual dinner that “the time for action is now” to protect the changes brought by his administration and the Democratic-led Congress, such as health care reform and the financial system overhaul
Pardon me Roy, but I’ve heard this speech before, “Now is the time”, “Never again”, “For too long” and “Let me be clear!” Mr. President, find a new speech writer, or three. The President is boring.
Colin Powell touches base with sanity, Dumbo’s supposed halo has slipped so much that even Colin Powlel can see the writing on the wall, from Politico [3]:
Powell said the president needed to focus “like a razor blade” on employment, giving the same level of attention to jobs as he did to passing bills overhauling health care and education
I don’t expect Powell to stay on the ranch too long, but nice to see the General drop in for a visit. I don’t wee why Dumbo would be motivated to worry about creating any jobs. He has one. As for a razor like focus, that is rather hard to do with a butter knife like mind.