Besides, the problem isn't unregulated capitalism; it's overregulation by unaccountable command-control administrative bureaucrats, unleashed by do-gooder elected officials who have delegated their dirty work to them. The problem isn't unfettered robber baron capitalists; it's an overreaching, overbearing, over-intrusive government that won't let the market work or breathe.
How can Obama fairly blame capitalism, which he pretends to love, when CEOs all over the country are complaining that the government won't leave them alone to do their work? How can an economy thrive when the government keeps its major drivers, small businesses, bogged down with unproductive rules and regulations and bullies and sues companies to prevent them from locating in the state of their choice?
If unequal distribution is the primary problem and its main causes are unbridled capitalism and an inequitable tax code, why haven't the ever-expanding socialist solutions and progressive tax system solved those problems?
No one with an ounce of intellectual integrity can deny we've been on a steady path toward socialism for the past three-quarters of a century, and even less can anyone deny we've seen that pattern accelerate into hyper-speed these past three years. Indeed, our problems, under the most statist president ever, have grown much worse.
Moreover, his representations about the tax code are simply untrue. Look at Internal Revenue Service data, as I have, and tell me with a straight face that people earning $1 million or more aren't paying almost twice the tax rate of those earning a secretarial salary. If some billionaires are avoiding income taxes, it's because their income is primarily capital gains (or dividends) -- which represent taxes on sales of assets they've purchased with income that has already been taxed -- or is offset by legal deductions.
None of these facts matters to Obama. He wants you to believe that we have unregulated capitalism (we don't), that it is causing our economic problems (the opposite is true) and that we need to further redistribute income and wealth (when our tax system is already progressive on paper and in practice and when we've never experienced more radical redistributionist policies than we have under Obama).
He wants to keep us preoccupied with greed and hating each other so that we won't have the time to focus on the real cause of our economic nightmare: President Barack Obama.
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