You think President Obama is avoiding the subject of the economy?
In reality, thoughts and ideas about the economy, and about economics, and about money – especially thoughts about other people’s money – animate just about everything that President Obama says and does. He is fixated on his belief that it is a grave injustice for a private individual, family or organization to be financially successful, and he is determined that his presidency will be the one to save our country from this “problem.”
So, while President Obama conveniently ignores the data on our current economic conditions – 8.3% unemployment, a decline in manufacturing, a rise in unemployment benefits claims and a drop in the labor force participation rate – he nonetheless cannot stop talking about the economy, and his vision of economic “transformation.” His contempt for individual economic achievements is a part of who he is – he cannot stop being himself.
The President’s recent obsession about Mitt Romney’s tax returns is only his latest in a long history of fussing about other people being wealthy. And the President’s disdainful attitude towards privately possessed wealth should surprise absolutely no one- his own father was also a powerful governmental figure who displayed this same kind of indignation.
Barack Hussein Obama Sr., the biological father of our President, was a bureaucrat in the communist government of Kenya back when the nation first declared its independence in the 1960’s. And while Kenya’s government was at that time moving towards pro-Western, free-market economic reforms, Obama staunchly opposed such changes.
Thus, Mr. Obama published an academic paper in 1965, responding to his government colleagues who supported the westernization of Kenya. Entitled “Problems Facing Our Socialism,” Mr. Obama advised Kenya’s then-President Jomo Kenyatta against relying on private investors, private capital, and private property ownership, as a means of improving the country’s dreadful economy. Why was private capital and investment a problem? Because, Mr. Obama reasoned, private investors inevitably seek to earn “dividends” from their investments, and “turning a profit” was the gravest of all immoralities. Instead, Mr. Obama proposed higher taxes on the wealthy, and a redistribution of that money, for the “collective good” of the nation.
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.