The Closet Socialist Makes A Boo-Boo

His Royal Oiliness Barack Obama went off the TelePrompter for a brief moment during a speech in Quincy, Illinois last week, and accidentally let slip his true economic philosophy. In classic class warfare, socialist style, Obama proclaimed: "I do think at a certain point you've made enough money." Another "Joe the Plumber" moment for the genius from Chicago.

His prepared script was already bad enough. He led into the ad lib with the line that Democrats don't begrudge success that is "fairly earned." So his lead was already setting the stage for the socialist idea that government has the responsibility to determine what is fairly earned, and how much of it you should get to keep. He stuttered on after blowing the part where he scriptedly said "We're not, we're not trying to push financial reform because we begrudge success" and "We don't want to stop them from fulfilling their responsibility to help grow our economy." He sandwiched the socialist gaffe in-between.

His ignorance of economics (and that of his advisers) was obvious long before he got around to revealing that he knows when you've earned enough. Since when is the duty of an entrepeneur to "grow the economy?" That's a delightful side-effect of the real goal--for the entrepeneur to grow his own personal wealth. Call it supply-side economics, trickle-down economics, or voodoo economics, but only St. Francis of Assisi would put everything he has on the line to "grow the economy" for some elusive and undefined public benefit. Only statists and socialists believe that government can and capitalists should just pour magic water on the ground and "grow an economy." It's part of why the stimulus bills are manure. They're "growing the economy."

Obama and his leftist core followers are like three-year old children who actually believe money grows on trees. In his own biography, probably written by domestic terrorist William Ayers, Obama describes how he hated the riders on the New Rochelle trains that took stock traders and bankers into New York City to work their evil ways. Obama's semi-literate wife in 2008 added "We [she and The One] left corporate America, which is a lot of what we're asking young people to do." She told the young women she was addressing "Don't go into corporate America. Become teachers. Work for the community. Be social workers." You know, all those government-type jobs that suck up wealth rather than creating it. That labor theory of value has been discredited for over fifty years. Those professions may contribute to society, but they sure as hell don't "grow our economy." They live off our economy. A healthy economy is created by entrepeneurs and businessmen who build the economy by growing their own self-interested businesses.

You see, the Obamas, as Michelle puts it, "Made the choice to move out of the money-making industry into the helping industry." She went on to decry those foul budding capitalists with "Many of our bright stars are going into corporate law, or hedge-fund management." And then I suppose they'll grow Simon Legree mustaches to twirl. Since The One earned about $5.5 million in the past fiscal year, I assume the "enough" that will get taxed at 100% is somewhere north of $6 million.

Obama may be a socialist, but he's not a crazy socialist. He knows where to draw the line. God help us all if we ever get a president like him who only earns only a mere $400,000 per year (the base presidential salary). Any medium-sized business, owned by an individual or small partnership is going to earn that much and more. But unlike the president, they have to pay their own expenses, overhead and taxes on the entire income. $400,000 ain't a bad salary, but for a business, that's probably no more than $50 or $60 thousand in actual earnings for the owner(s). Do you think that Obama and his ilk understand that?