Speaking today, President Barack Obama said we need to believe that government can address inequality of income and wealth. Many will be remember that day, when Obama campaigned in a neighborhood in Ohio in 2008, he met Joe the Plumber and said he believed it was good for government to redistribute the wealth. In fact, wealth has been redistributed under the Obama Regime, but not how he promised it would be.
Speaking today, Obama said, “we need to set aside the belief that government cannot do anything about reducing inequality. It’s true that government cannot prevent all the downsides of the technological change and global competition that are out there right now -- and some of those forces are also some of the things that are helping us grow.”
As always, President Obama likes to talk about supporting and helping the Middle Class, but under the Obama Regime the Middle Class continues to shrink to the point of non-existance. Obama said today on this, “We know from our history that our economy grows best from the middle out when growth is more widely shared. And we know that beyond a certain level of inequality growth actually slows altogether.”
Both income and wealth are distributed far more unequally under Obama than any other previous president. A great deal of the reason for this is the suppression of economic growth, and the sustained excessively high unemployment rates, both caused by the economic policies of the Obama Regime.
Rush Limbaugh on his radio program today, addressed the record of Obama's economic policies regarding unequal distribution of income, saying, “From the New York Times, one quick thing. August 31st of this year: "Income Gap Grows Wider and Faster -- From 2009 through 2011, the latest year for which the data is available, the ratio increased 1.14 percentage points annually, or roughly four times faster" under Obama than prior to Obama. He's out there ripping into income inequality, and it has grown four times faster during his presidency. He's the architect of it.”
This video shows how wealth is distributed more unequally than ever in the United States, and this has gotten much worse under the Obama Regime.
There is a reason that government, especially as it functions now under President Obama, can only redistribute wealth and income from the poor and Middle Class to the wealthy and well-connected, many of whom donated millions to reelected this president. While the growing percentage of poor and lower middle class who do not make enough to pay federal income taxes do not pay taxes while the wealthy have many ways to shelter their assets from federal taxes, that leaves the shrinking middle class and upper middle class segments of the population to have more tax revenue squeezed from them by the federal government. A disproportionate amount of that revenue, that doesn't fund the necessary functions of the federal government or make interest payments on the excessively growing national debt, either funds entitlement programs for the more financially well off or goes into corporate welfare that almost entirely benefits the top one percent. In fact, the top one percent is just about the only group that has seen it's income and wealth increase under President Obama. As that video shows, the bottom four quintiles of the population in wealth and income has lost ground in both under the Obama Regime.
Not only can the government not address inequality, it can only create more inequality. Only the free market can create and grow the middle and distribute wealth and income from the wealthy and to the productive. Every time an entrepreneur gets wealthy from an invention or new product, that is how the market redistributes wealth and income from the few and to the many who benefit from the new invention or product. Big Government, like that advocated by Barack Obama, has proven it can only take money from the masses of the working population and dole it out to the well-connected, the top one percent.
If you enjoyed reading this article, please like Dean's facebook page and join our new Facebook group: Stopping Tyrannical Oppressive Progressives. Do you support Ted Cruz for president in 2016? Join our Ted Cruz in 2016 Facebook group!
Stay on the right side of issues, visit my QstarNews Facebook page and like it and share it here
Do you support Ted Cruz for president in 2016? Join our Facebook group!
The ultimate group for Rush Limbaugh fans: Realville on Facebook!
Join our new Facebook group: Stopping Tyrannical Oppressive Progressives
The GOP must do this or the country will be lost forever
Read the Simple 10 point agenda for Conservative Victory – A simple, common-sense agenda for a positive future alternative to the liberal big government agenda
Back in full force: UnSkewedPolls.com still unskewing the skewed media polls!
Read the best of Dean's News and Commentaries here at QstarNews.