Share This: Obama Wants $1.6 Trillion Tax, Infinite Debt Limit

November 30, 2012

The Obama administration isn’t even remotely trying to negotiate the fiscal cliff away. He wants to go over the cliff for political gain, and then claim that it was caused by the GOP which only cares about rich people. The strategy is simple, obvious, and effective. It seems to be working.

For evidence, just look at how preposterous his recent proposal was. He sent in Tim Geithner, his Treasury Secretary, to talk to GOP leadership. What does the Obama administration propose? They want at least $1.6 trillion in new taxes, and they want to get rid of the automatic debt ceiling by giving Obama more power to keep creating infinite debt without a limit — unless 2/3rds of congress decides to stop him eventually.

This is raw insanity. This plan essentially promises that we’ll see the opposite of what we need. It all but guarantees higher taxes during a recession, as well as far greater debt over time, because it’ll make it easier for politicians to ignore the debt that’s being piled up. If America wants to destroy itself, this is exactly how it should be done.

What’s Obama’s Motivation?

It’s pretty clear that the motivation has nothing to do with spurring the economy on. You don’t pass tax increases when the economy is bad. Even basic Keynesian ideas should point to that. You wait till the economy is recovered — if you ever do.

That he wants to essentially create an infinite debt ceiling makes it clear he doesn’t want to ever pay off the debt. Not even eventually. Balanced budgets aren’t the goal. His administration has never even passed one or even tried much to pass one. So what’s the motivation?

Simple. He wants to increase taxes on the rich, because he wants “equality of outcome” when it comes to income. His entire motivation now is just the radical, failed ideology of socialism. It’s not jobs. It’s not the debt. It’s not deficits. It’s not the economy at all. It’s destroying the rich people and dumping welfare onto the poor to create loyal, long-term voters.

The last four years have been surreal. Obama has made it clear he wants to “spread the wealth around”. He’s made it clear he doesn’t care about the economy. He’s made it clear his entire campaign strategy is just bashing the rich. He even wrote a book saying he surrounded himself with other “Marxists” while in college.

Obama’s father was a socialist. Obama then wrote a book called “Dreams From My Father”. America is under attack from socialism now like never before, because it seems to be working on a structural level. FDR’s socialism at least seemed motivated by the economy, though deadly flawed. Obama, however, is simply a pure socialist.

This bothers some people, who feel like it’s cheesy to use words like “socialist” when describing our own president. This isn’t just wrong, it’s just intentional ignorance. It’s getting so bad, this Russian news source is reviewing Obama and even refers to him as a “communist”. People who refuse to admit he’s a socialist now are just voluntarily accepting a delusion. Those of us who care about the future of society refuse to accept any delusions.

Thomas Jefferson was right:

“We are not afraid to follow truth wherever it may lead, nor to tolerate any error so long as reason is left free to combat it.”

What’s The Proper Response?

So what should capitalists do? The answer is simple: fight back. We live in the Information Age, and that means the biggest political message we can send is one of a viral message. Facebook, Twitter, Tumblr — these are the tools of the activist. The more backlash, the more likely politicians lose political capital.

This is the only tool currently available to you if you want to fight these changes. Contact senators, representatives, and talk to friends and family. Spread links to news stories and analysis on Facebook and Twitter. Obama has to lose as much political capital as possible, or the changes in the next year or two will simply be irreversible.

We live in interesting times. I look forward to telling my future grandchildren that I fought back loudly and proudly every single bloody day. ┬áI hope you’ll join me.

Copyright Capitalism Institute, 2011-present.