Scapegoating one group of people to convince the rest to follow your self-destructive policies blindly into oblivion is the way of demagogues. President Obama’s speech tonight teetered dangerously on the edge of this technique.
I was hoping the President would boldly announce a tax-repatriation holiday for American corporations in exchange for increased hiring in the United States. Given that American corporations hold roughly $1 trillion overseas, such a measure would potentially be a boon for hiring. Alas, the President’s economic team ruled it out, and the country missed out on a huge and cheap opportunity to drive job creation.
I was also expecting the President would call for the reduction of the one of the highest corporate tax rates in the world in exchange for eliminating tax loopholes. Fortunately, he did include some version of this proposal. That said, I will reserve my judgement until the President releases the full details.
However, the meat of the President’s proposal boiled down to one theme:
This twisted economic ideology has left little but misery the world over, from Russia’s Bolshevik Revolution to the Stalinist purges in the 1930s to China’s brutal cultural revolution. It is a failed ideology that consigned millions of human beings to hopelessness and abject misery.
The President’s speech often seemed to offer little but bitter and partisan class warfare. It harkened back to the days when Marxists issued rallying cries to their ideological and “noble” red-shirt proletariat to unite against the “evil” bourgeois corporatists.
Did President Obama really intend to call for a naked wealth transfer from one group of Americans to another, in the name of “fairness”? Never mind that the “scapegoats” already bear the vast majority of America’s financial burdens. Never mind that this is the same policy this administration has been pursuing with little success for the last two and a half plus years.
And this line is just priceless, because it is an outright lie:
“This isn’t political grandstanding. This isn’t class warfare. This is simple math.”
Mr. President, you’ve lost me.