Obamanomics 101

JB Williams, CFP

Like many other definitions that have been rewritten by left-wingnuts over time, the term “general welfare” no longer means what it did when it was written in our Constitution and ratified by the colonies in 1789.
As Thomas Jefferson once explained, “To take from one, because it is thought his own industry and that of his father has acquired too much, in order to spare to others who have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, “to guarantee to everyone a free exercise of his industry and the fruits acquired by it.”

The preamble to the Constitution establishes the goal of the effort as to; “establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity.”

Today’s limousine liberals insist that the term “general welfare” implies a Marxist view that the federal government has the duty and the power to “take from each according to his ability, and give to each according to his need,” - to define and measure out individual well-being against the will of some on behalf of others. This is not only very dangerous to the basic concepts of liberty and freedom; it is diametrically at odds with everything the founders formed.

Target Taxing “the Rich”
Aside from the fact that punitive taxation penalizes the most productive members of society and rewards the least productive, it won’t work. This is not a subject up for debate. This is very old news which has been beyond dispute for centuries.

As a result, Jefferson, America’s best known liberal, stated it very clearly for future generations, - “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.”

Jefferson’s point is this, - such an effort is not only punitive towards productivity; it is a “waste.” It won’t work. It=2 0is a “waste” of hard earned resources… in terms of simple economics. But that does not mean that the effort is without purpose. It has a political purpose.

Obama’s Target
The Obama campaign has been very clear about their intention to raise taxes on two specific target groups, “the rich” and “corporations.”

According to their campaign, Obama defines “rich” as those households making above $250,000 in annual income, approximately the top 2% of income earners. They claim that this target group of U.S. citizens is “not paying their fair share” and that they must pay more in order to provide for the “general welfare” of others.

Obama refers to this as “charity” – though charity is usually a private individual act which requires the consent of the giver.

This is exactly what Jefferson said we should not and could not do. But Karl Marx is very much in favor of such a notion, and so is the Obam a campaign and all of their voters who never fail to cast their votes on the basis of what their government can do for them in their personal lives.

Who Pays Taxes Now?
Is it true that the Bush administration has lowered the tax burden for “the rich” and placed it upon the average Joe?

No, it isn’t… According to IRS reports for 2001 through 2006 (last report available) this statement is not at all true. It is patently false!

The Top 5% of income earners pay an increasing lion’s share of all taxes in America.

2001 – 53.25% (of all federal taxes collected)
2002 – 53.8%
2003 – 54.36%
2004 – 57.13%
2005 – 59.67%
2006 – 60.14%
In each year since Bush took office, the top 5% of income earners, those making more than $150,000 per year, have paid an increasing share of the federal tax burden.


It is not at all true that “the rich” do not pay their “fair share.” “The rich” have been targeted for a very long time already. I’d sure like to know what definition of “fair share” we are working with here.

Meanwhile, the bottom 50% of income earners ($32,000) have enjoyed a decreasing share of federal tax obligation under Bush.

2001 – 3.97% (of all federal taxes collected)
2002 – 3.5%
2003 – 3.46%
2004 – 3.3%
2005 – 3.07%
2006 – 2.99%
To put this in terms that even the average modern liberal can comprehend, according to the Census Bureau, the median annual household income rose 1.3% to $50,233.00 in 2007. American households making below this figure will pay less than 3% of all federal taxes collected, while those making above this figure will pay 97%, with the top 5% paying over 60%.

We have been “wasting the labors of the people under the pretense of taking care of them” for decades now and the fundamental basis for Obamanomics is to do even more of the same!

Class Warfare and Mob Mentality
There’s a good reason why today’s Marxists have adopted the democratic process as its means to advance its socialist agenda… Unlike communism at gun point, it works!

If you place a gun to the head of most Americans, there’s a reasonable chance it is you who won’t live to tell about it. But Americans can be talked into a kinder-gentler form socialism and few will look far enough down the road to see where they are headed.

Democratic Socialists like Obama have been counting on this trend for years now and their mission is all but complete. Jefferson was right about a lot of things… “A democracy is nothing more than mob rule, where fifty-one percent of the people may take away the rights of the other forty-nine.”

Defining “Fair Share”
When those who pay little or no taxes at all (most Americans) get to define “fair share” in the tax code, they will seek out a small target (the rich – top 2%) with deep pockets.

James Madison wrote – “Government is instituted to protect property of every sort; as well that which lies in the various rights of individuals, as that which the term particularly expresses. This being the end of government, that alone is a just government which impartially secures to every man whatever is his own.”

Property rights are at the foundation of individual liberty and personal freedom and our government was formed for the primary purpose of protecting and preserving individual freedom via protecting the right of every individual to earn and own property.

Yet it is the principles of Marxism that drive Obamanomics and rule economic policy via democratic mob mentality today.

Choosing the Right Opponent
Winning any battle begins with choosing the right opponent. Left-leaning poli ticians understand the principle of choosing sides wisely. No matter how deep their pockets, the top 2% of income earners are completely defenseless against the mob mentality of the other 98% of voters who have defined “fair share” as “from each according to his ability; to each according to his need.”

Karl Marx wrote that “democracy is the road to socialism.” Marx was right, at least as relates to any democratic society in which the majority of voters mark their ballot on the basis of gifts from the public trough.

The Fundamental Lie called Corporate Taxation
Corporations are made up of individuals. You can’t tax a corporation. Every penny in corporate tax is passed on to employees, shareholders and consumers, aka - individuals.

The minute someone says they are only going to tax “corporations,” they are attempting to conceal the very real fact that they are in the end, raising taxes on employees, shareholders and consumers.

Back to the Drawing Board
Once again we return to the topic of targeting America’s “rich.” They are an easy target. The=2 0“rich” have been a defenseless target of the left ever since FDR’s Raw Deal re-wrote the Constitutional definition of “general welfare.”

If 2% of the nation’s population paying more than 60% of the nation’s federal taxes is not enough, what is enough?

Would 2% of Americans paying 70% of the federal tab be enough? Would 80% be enough? Or are we simply working our way towards the top 2-5% paying 100% of the federal tab?

This is Obamanomics 101 in a nutshell. It isn’t new, so it isn’t a change. It is more of the same.

More of the same mob mentality, class warfare and punitive measures against our nation’s most productive and most defenseless citizens.

2% of American citizens have no means of defending themselves against the will of the vast majority of modern voters who have been trained to believe that they have a right to the earnings of others. Democrats know this and it is their power.

It is not enough to protect only yourself from continued affronts on individual freedom and liberty. You must be willing to protect and defend the freedoms and liberties of others in order to protect and preserve your own.

What the mob can do to only 2% of your fellow citizens, they can also do to you. What Obamanomics can do to 2% of Americans, it can do to you, and eventually it will.

Charity requires the consent of the giver. Give as much as you like. But taking from a few against their will in the name of the mob, is called tyranny.

Do you really have any doubt about what Obamanomics represents?