An administration’s goals should be plain and clear for all to understand, but with a President as dishonest as Barack Obama, who will say whatever he thinks people want to hear at the moment, it takes some detective work. Daniel Henninger has found “the Rosetta Stone” to understanding Obama’s economic policy. If you read nothing else today, you will want to read his piece. (HT: TIA Daily)
As many of us have suspected, Obama’s purpose is not, as voters assumed, economic prosperity. The Obama administration is the first in history dedicated to economic egalitarianism. 1% of taxpayers make 22% of the national income. Leftists cannot tolerate this “unfairness.” Obama’s economic policies have been constructed with the goal of reducing the amount of money the richest take home in order to decrease the gap between the rich and the poor.
The disparity has increased since the Reagan Presidency, as shown by this chart:
Obama believes this has come about through foul play.
Turn to page five of Mr. Obama’s federal budget, and one may read these commentaries on the top 1% datum:
“While middle-class families have been playing by the rules, living up to their responsibilities as neighbors and citizens, those at the commanding heights of our economy have not.”
“Prudent investments in education, clean energy, health care and infrastructure were sacrificed for huge tax cuts for the wealthy and well-connected.”
“There’s nothing wrong with making money, but there is something wrong when we allow the playing field to be tilted so far in the favor of so few. . . . It’s a legacy of irresponsibility, and it is our duty to change it.”
The government cannot close the gap by making poor people more prosperous; it can only destroy the wealth of the rich. This is the central purpose of Obamanomics. Egalitarianism is, to use Ayn Rand’s phrase, the hatred of the good for being good.
In reality, a growing disparity between the rich and the poor is a good thing. It means the rich are producing more wealth, which makes the entire economy more efficient and healthy. It means the rich have more capital to invest in the future, which means goods will be better and cheaper. Not only is the wealth of the rich not stolen from the poor, but it is used make the economy grow, which improves the standard of living of everyone. The poor should hope that the rich get richer, because it means their lives will improve as well.
Leftists sneer at all this as “trickle down economics.” I remember one far-left moron in Congress crying, “We’re tired of being trickled on!” Their notion of fairness is for the state to take the money the rich make and redistribute it to the poor. Whether they are intelligent enough to understand it or not, redistributing wealth hampers the economy and only increases state control over our lives. That increase in state control they certainly understand — and desire.
Now we know why Obama showed no concern over the massive destruction of wealth in the stock market. He is purposely causing that destruction. He is acting as his leftist ideology demands.
The Obama administration is unprecedented in American history. The little leftist in the Oval Office is the first President to pursue a plan of destruction. Say what you will about the Republicans, and I’ve said plenty, they have not yet come up with anything as depraved as an economic plan based on egalitarianism.