Another reason the Obama (and Clinton) class envy works is that too many people are economic illiterates. They can't tell the difference between compound interest and a compound fracture. How many politicians today talk about looking out for one's self, not relying on government? Too many Republicans negotiate with Democrats over the size of new programs and budget increases, rather than reducing the cost and size of the nanny state. The era of big government is not over, as Bill Clinton proclaimed in his 1996 State of the Union address; it has just begun. If either Hillary Clinton or Barack Obama becomes president, government will grow even larger and become more intrusive.
According to recent Gallup data, "The wealthiest 1 percent of the population earn 19 percent of the income, but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent - those below the median income level - now earn 13 percent of the income but pay just 3 percent of the taxes. These are proportions of the income tax alone and don't include payroll taxes for Social Security and Medicare." Soaking "the rich" even more won't pay for all the new government programs Obama (and Sen. Clinton) wish to impose on us. Thomas Jefferson, whom Democrats claim as their party's founder said: "I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them."
Calvin Coolidge, who spoke when he had something to say, cautioned, "Never attempt to build up the weak by tearing down the strong." That is what Obama and his fellow Democrats seem intent on doing. They tear down the rich, rather than encourage the non-rich to become prosperous.
Obama should read the works of the Scottish moral philosopher, Adam Smith, who said, "It is the highest impertinence and presumption in kings and ministers to pretend to watch over the economy of private people, and to restrain their expense. They are themselves, always, and without any exception, the greatest spendthrifts in the society."
Again, Calvin Coolidge rebukes the ideology of Obama-Clinton: "The collection of any taxes which are not absolutely required, which do not beyond reasonable doubt contribute to the public welfare, is only a species of legalized larceny. Š The wise and correct course to follow in taxation is not to destroy those who have already secured success but to create conditions under which every one will have a better chance to be more successful."
Given such truths, it is time to break up with our Obama infatuation.
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