Dear Friends,
It seems to me, when a millionaire stands in front of me and claims he is going to hurt the rich and help me, I know I am being lied to. Carneades said, people are like animals, each striving for his or her own best interests, and so true justice cannot exist, because for a person to be truly just they must damage their own interests. In the case of a rich man telling me how he is going to damage the rich to help me, he must be lying, because to do that he would have to do damage to his own self interests, and no man, rich or poor would do that. This is a lesson to all those who tend to believe it when a millionaire claims he is going to tax the rich and help the poor. The rich politician only seeks to appear that he is taxing the rich when in fact his goal is to protect the rich. If a majority of us don’t learn this lesson we will continually be disappointed at the economic results of our votes.
Obama is a case in point, he claims to be against the rich and for the poor. But his latest poll numbers show that he is loved, by the very rich he is so intent on taxing to death, and not liked so much by those he claims he is trying to help. The higher the income the higher Obama’s poll numbers. If the results of his tax increases were so damaging to the rich, why do they love him so, and, if his policies are so geared to helping the poor, why do we like him less? A brief look at the results of Obama’s policies will make the point.
The uber rich are doing very well indeed under the Obama regime. Despite Warren Buffet’s claim that his tax rate is lower than his secretary’s, his taxes have not gone up, but his secretary’s have. The Obama administration handed the billionaire investor a tidy windfall when Obama vetoed the Keystone oil pipeline. The oil didn’t go unused it is traveling to Texas in Warren Buffet’s trains. Increasing the carbon footprint of the oil, increasing the danger of a major spill if a train were to derail, driving up the cost of that oil and eliminating the thousands of jobs that would have been created if the pipeline had gone through. In this one case, we see clearly that despite the rhetoric, Obama damaged the interests of the little guy and gave a hand up to the uber rich guy.
The money printing of the Federal reserve is another manifestation of Obama’s policies helping the uber rich and hurting the little guy. The 40 billion dollars a month the FED is printing to buy mortgage loans, to drive down the cost of mortgages, could make 40 thousand people millionaires every month! Add to that the 45 billion Bernanke is printing to buy treasuries and the total would be 85 thousand people made millionaires a month! Think of how this would stimulate the economy! If the FED did a random drawing of 85 thousand people a month, and cut them a check for a million dollars each, the economy would boom overnight. But instead, the FED is buying treasuries and mortgage loans… lining the pockets of the rich with the printed money.
Obama care’s tsunami of taxes and regulation will wash away any economic gain from all the money printing. This is the dirty little secret that economists don’t tell you. Obama care will destroy the American economy and everyone in business knows it. The regulations alone will drive up the cost of labor so much that many businesses will have to lay people off. The confiscatory taxes will drive many out of business altogether. The reason so many firms have been cutting labor and ratcheting up productivity, is that they know the ones who have the lowest labor cost as a percentage of the total cost of production, will be the only ones to survive. Those that have not cut to the bone will be pulled out to sea and drowned by Obama’s tsunami.
Obama’s claims to help the working man have come with policies that damage working people’s interests and helped the uber rich. Money printing to “stimulate” the economy into creating jobs, has only made the rich richer, and the tsunami of Obama care will swamp our economy, eliminating jobs just when we need them most. If we want to live in liberty and freedom it is imperative we learn to recognize shysters when we see them. Clearly we have not, but I am hopeful that the Obama administration has gone a long way, to teaching this generation to recognize one when they see one. So, now you know too, that when a rich person stands in front of you and claims he or she is going to hurt the rich and help you… you are being lied to.
Sincerely
John Pepin
