Class War

President Obama’s tone is vengeful; the rich “did not build that” and must be taxed further to punish them for accumulating wealth. His Marxist roots are showing, must be time for a visit to his colorist. Or I guess he just doesn’t care anymore.

“Our economic success has never come from the top down,” said Obama. “It comes from the middle out. It comes from the bottom up.”

President Obama, aren’t you at the top, sir? Never from the top down? In your case, sir, that is obviously true. Other presidents have done much better. Unlike you, some even gave a sh*t about the country, rather than pursuing personal agendas.

Mish’s post here shows how the welfare state destroys the economy by making it near impossible to climb out of poverty.

As the above chart – via Gary Alexander, Pennsylvania’s secretary of Public Welfare — shows, the single mom is better off earning gross income of $29,000 with $57,327 in net income and benefits than to earn gross income of $69,000 with net income & benefits of $57,045.

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  • By A Failed Paradigm « Financial Reality on December 25, 2012 at 10:31 am

    […] Welfare Cliff. See “Class War.” Subsidies withdrawn as income rises provide a financial disincentive for work. As […]

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