What we have here...

...is a failure to communicate.

The President gave a speech today.  That's what he does.

Its campaign time for Mr. Obama.



...but one thing in his speech jumped out at me:


"Think about it. In the last decade, the average income of the bottom 90% of all working Americans actually declined. The top 1% saw their income rise by an average of more than a quarter of a million dollars each. And that’s who needs to pay less taxes? They want to give people like me a two hundred thousand dollar tax cut that’s paid for by asking thirty three seniors to each pay six thousand dollars more in health costs? That’s not right, and it’s not going to happen as long as I’m President."

Other than the blatant molestation of statistics he perpetrated, he again shows off his total lack of understanding of basic economics - his beliefs are on the wrong side of history.

If Mr. Obama were a student in my economics class, I would ask him, "What would you do with the two hundred and fifty thousand dollars Barack?" 

"Would you invest it? How?  By putting it in the market?  Which would allow businesses to spend that money, making things, paying people?  Would you have to pay taxes on the money you gained from your investment?  Would the businesses have to pay taxes on income they generate from your money?  Would the sales generate taxes for local governments?"

"Would you put in in the bank, in an interest baring account?  Which would allow the bank to lend it to individuals, and businesses, who would pay to borrow that money - pay your 'interest,' plus a little for the bank?  Would the bank have to give the government a portion of the money for FDIC insurance, and then a portion in taxes on the profits?  Would the individuals and businesses who borrow that money, have to pay taxes on the profits they generate with it?  Would you have to pay taxes on the interest you earned?"

"Would you buy something?  Some high end products, like a boat, or house, or spend it on vacation? Would companies have to make the things you buy - would they employ people to build those things?  Do you get served on your vacation - by people with jobs?  Would you pay taxes on every transaction?  Would employees and employers pay taxes on every transaction of your $250,000?"

"Mr. Obama, where do the seniors you speak of get their health care?  Oh, from companies?  Companies that borrow money?  Companies that need your dollars to invest?"

"Mr. Obama, unless you put that money in your mattress - it goes back into the society you are trying to destroy.  Oh, and since you have been flooding the market by printing new stuff, putting it in your mattress may help too!"

"Mr. Obama, you get a D- in economics, you are short sighted and can't get past the first line of thought that comes to you.  The "tax break" you speak of will generate MORE taxes, and will keep the cycle of business going.  I've heard your "fairness" argument - if I hear that one again, I'll downgrade your D-...and you will get an NRT - Not Responding to Training!"