Now, President Obama is poised to deliver juicy tax exemptions for unions while squeezing middle-class taxpayers, employers, investors and drugmakers to subsidize expanded government health care.
The liberal press became unhinged when former President George W. Bush posed with an artificial turkey on a surprise Thanksgiving trip to Baghdad in 2003. But on Thursday, when Obama served up a fake populist turkey of a $90 billion bank tax -- dubbed the “financial crisis responsibility fee” -- much of the press corps dutifully chewed and swallowed. Feigning outrage at the very financial sector that loaded his campaign coffers and provided him with crony Treasury appointees, Obama demanded “our money” back.
But the tax will not apply to the Enron-rivaling financial black holes of Fannie Mae and Freddie Mac (it would “not be productive,” says a White House filled with Fannie- and Freddie-enriched advisers). Or to the bailed-out auto companies. Or to the bevy of non-banks that have soaked up taxpayer bailout money. Gobble, gobble, gobble.
Nor will any of the incompetent or complicit financial regulators who practiced self-admittedly “inadequate” oversight before the meltdown and during the government bailout structuring be fined or penalized. (We’re looking at you, Tim Geithner).
With Year Two of the Obama administration barely under way, even its most loyal subjects are beginning to realize that Hope and Change were phony fruits. He promised new politics. We got the same old crony capitalism. He promised public accountability. We got the back of the hand. How ya like them rotten apples now?