Recall that in 2008, global oil prices spiked upward, creating a sharp rise in gasoline prices, and candidate Obama’s “solution” to the problem of four dollar-a-gallon gasoline was to raise taxes on oil companies.
Anyone with the most limited appreciation of free market economics knows that raising taxes on product producers doesn’t lead to a lower price on the product (producers pass along the cost of the tax to their consumers by adding it into the pricing of their product). But lowering the cost of gasoline wasn’t necessarily Senator Obama’s goal, given that the other part of his “plan” was to use the revenue taken from the oil companies in the form of a “tax increase” to give “working Americans” a “voucher” that they could use for oil and gasoline purchases.
Candidate Obama’s plan was perhaps to make gasoline and oil purchases more affordable in some instances, but not universally and not in all instances. What Obama was proposing was a means of increasing governmental control over the private sector economy and over private citizens’ lives – and no doubt Mr. Obama himself would be happy to decide who really qualifies as a real “working American” and who was therefore deserving of a special “voucher.”
Fortunately, global oil prices subsided, and Obama’s chatter about raising taxes on oil companies did too. But since becoming our President, Barack Obama has continued to do things that work against economic growth and expansion, yet help advance his control over the economy.
Bailouts for car companies? Barack Obama is the de facto CEO for General Motors and Chrysler these days, because, essentially, “they owe him,” and he can tell “them” who will be CEO, what products they will make, and so forth.
Bailouts for lending institutions? Our President and his friends in his Administration can dictate to banks who they will and will not lend to, and who deserves and does not deserve “help” with their mortgage.
This control dynamic escapes many presumably smart people in our national media. Some in the financial media have been shocked that Obama’s alleged “economic recovery” appears to have stalled. And New York Times columnist Maureen Dowd, a frequent critic of President Obama, recently lamented that Obama appears to be an “incoherent President,” noting that he’s “with the banks,” then “he’s against the banks….he strains at being a populist, but his head is in the clouds…”
Yet there is nothing “incoherent” about Barack Obama. He is consistent with his quest for control. Our President has demonstrated that, for him, it’s not about being “for” or “against” “the banks,” or “Wall Street,” or “Main Street” – it’s about seizing power over private affairs, and he will achieve that power by what ever means necessary.
Slumping economy or not, the truth is abundantly clear: our President is achieving precisely what he intended.
Austin Hill is an Author, Consultant, and Host of "Austin Hill's Big World of Small Business," a syndicated talk show about small business ownership and entrepreneurship. He is Co-Author of the new release "The Virtues Of Capitalism: A Moral Case For Free Markets." , Author of "White House Confidential: The Little Book Of Weird Presidential History," and a frequent guest host for Washington, DC's 105.9 WMAL Talk Radio.