Category Archives: Barack Obama

UPDATE IV: Payroll Pickpockets: ‘Please, Sir, I Want Some More’ (Pocket Money for the Peons)

Barack Obama, Democrats, Government, Private Property, Republicans, Taxation

It’s intended as a temporary, two-month tax cut. Nothing permanent. Our munificent masters in DC are wrangling over whether to throw their galley slaves (taxpayers) some pennies in time for the Holidays. In and out of our pockets they reach, only to decide, on Tuesday, that “a Senate plan for a two-month extension” of the payroll tax was “irresponsible and unworkable,” and that “it would create uncertainty by failing to resolve the issue past February.”

Swept up in the manufactured drama, CNN observes: “However, the Senate agreement was negotiated by Democratic and Republican leaders and received strong GOP support in passing on an 89-10 vote. … President Barack Obama joined the Democratic chorus, noting that Senate leaders from both parties had agreed to the short-term extension in order to guarantee that taxes don’t increase for working Americans while negotiations continue early next year on the one-year extension that House Republicans say they support.”

Said the agitator from Chicago of House Republicans: “What they’re really holding out for is to wring concessions from Democrats on issues that have nothing to do with the payroll tax cut.”

Why does the thief-in-chief not advocate for permanent tax cuts? Why not cut taxes meaningfully?

The whole routine reminds me of Oliver Twist, the little orphan protagonist in the eponymous Charles Dickens novel. And in particular, the scene where he rattles his breakfast bowel for some more gruel.

UPDATE I: PRIVATE PROPERTY. We’ve been over this before, Pauli, in another post. You are wrong about tax cuts being “hooey.” Not unless private property is “hooey.” Let me put it plainly: I don’t care what DC spends, so long as it’s mitts off my property. A pay check is private property. Your formulations are predicated on communal ownership; mine on private ownership. Throttle the revenue stream, restore private-property rights, and the bastards can do what they like.

UPDATE II: The War Street Journal is furious at House Republicans:

Republicans have also achieved the small miracle of letting Mr. Obama position himself as an election-year tax cutter, although he’s spent most of his Presidency promoting tax increases and he would hit the economy with one of the largest tax increases ever in 2013. This should be impossible.

UPDATE III (Dec. 22): To the defenders below of taxation in all its permutation: I am sure I speak for your sovereigns in DC: They are, no doubt, grateful for your faith in their ability to mange your money. From this scribe’s perspective, however, money stuffed down the maw of the Federal Frankenstein will seldom end up where it’s supposed to (as if that “destination” is so laudable to begin with). Congress, the president and the bureaucracy: These are embezzlers par excellence—so good are they at what they peddle that they have BAB’s fearless bloggers on their side.

Wake up: Money extracted from us by the Feds is fungible. Any additional revenues the Feds receive via taxes they will use to plunge private property owners deeper into debt. The solution to the debt is not to be found in seizing private property (through taxes) and placing it in communal ownership (state bureaucracies), where resources are never allocated efficiently and are always squandered.

But, this is the season of good will, and the oink sector that serves the tax-and-spend police state that Uncle Sam has become is, I am sure, thankful for your confidence

UPDATE IV: The peons get pocket money for two more months. ObamaMedia celebrate a tactical victory for the Prince of Darkness. Details of the deal here. Puke fest all around. CNN correspondents Jessica Yellin is almost yelling, “Political touchdown.” Almost.

Refugees In The Failed State of Iraq

Barack Obama, Bush, Democracy, Iraq, Middle East, Military, Multiculturalism, Neoconservatism, Religion, War

Saddam Hussein ruled over what the state department considered a rogue state, Iraq. The US eliminated Hussein and invaded his country (not in that order). Thanks to the American invasion, Iraq is now a failed state, where the politically weak are forsaken, and a muscular majority exercises its authority (a dispensation also known as democracy). The deposed dictator had kept a lid on the cauldron of sectarian strife, now boiling over in Iraq.

I’ve covered the plight of the millions of Iraqi refugees we helped uproot.

Against the backdrop of “Obama basking in the Iraq withdrawal” comes a reality check: a report, via CNN, on those Iraqis who have been internally displaced.

While war supporters may console themselves with the fact that “displacement is not new in Iraq,” as this Brookings-Institute observes, Iraq since the blessings of Bush is suffering a displacement crisis.

Theatre of the Absurd

Barack Obama, Democrats, Elections, History, Ilana Mercer, libertarianism, Political Philosophy, Private Property, Republicans, The State

A couple of hours ago I filed this week’s WND column with my editor (I file on Wednesdays). I have just heard Judge Napolitano deliver his editorial on Freedom Watch. Uncanny. The theme of my new column tracks with the Judge’s editorial. I had titled my column “Who’s It To Be? Teddy # 1 Or Teddy # 2?” (My good editor will often find better, more pithy titles.) In any event, I wrote this:

“What are the odds that a Democratic commander-in-chief and his chief Republican rival declare their philosophical fidelity to the Progressive Theodore Roosevelt on the same day? And I replied, “The dice were loaded in Teddy’s favor. The sitting Democratic president (Obama) and the Republican odds-on favorite for president (Gingrich) are in TR’s corner…”

Our heroic Judge, in his December 7 segment (not yet posted), asks and answers similar questions.

Hopefully, many more people beyond the libertarian orbit will come to experience the same gut reaction at this theatre of the absurd.

Mr. Omega to Alpha Male Obama: ‘Quit Your Cr-p!’

Barack Obama, Business, Democrats, Education, Elections, Political Economy, Politics

“If I am not for myself, then who will be for me? … And if not now, when?” said Rabbi Hillel the Elder.

At last a fabulously rich, self-made man has awoken to the fact that it’s time to fight for his life’s work; stand up for his achievements, take pride in his intelligence and graft. Quit pretending an agitator from Chicago, who has lived off the public teat for his entire life, is better than a billionaire who has built a business from scratch. Billionaire investor Leon Cooperman has “made public his letter to the President.” Read it on Gerri Willis’ Fox Business blog.

I like the part where he shows president ponce what real work means, although I am sick of the give-back fallacy or the pleas about divisiveness. That the president is divisive is secondary to the fact that he’s an ass with ears, ignorant of economics and oblivious to rights.

To the letter (I think Cooperman is far more eloquent than Peggy Noonan, Court Courtesan to Bush, whom Cooperman praises):

Just to be clear, while I have been richly rewarded by a life of hard work (and a great deal of luck), I was not to-the-manor-born. My father was a plumber who practiced his trade in the South Bronx after he and my mother emigrated from Poland. I was the first member of my family to earn a college degree. I benefited from both a good public education system (P.S. 75, Morris High School and Hunter College, all in the Bronx) and my parents’ constant prodding. When I joined Goldman Sachs following graduation from Columbia University’s business school, I had no money in the bank, a negative net worth, a National Defense Education Act student loan to repay, and a six-month-old child (not to mention his mother, my wife of now 47 years) to support. I had a successful, near-25-year run at Goldman, which I left 20 years ago to start a private investment firm. As a result of my good fortune, I have been able to give away to those less blessed far more than I have spent on myself and my family over a lifetime, and last year I subscribed to Warren Buffet’s Giving Pledge to ensure that my money, properly stewarded, continues to do some good after I’m gone.

My story is anything but unique. I know many people who are similarly situated, by both humble family history and hard-won accomplishment, whose greatest joy in life is to use their resources to sustain their communities. Some have achieved a level of wealth where philanthropy is no longer a by-product of their work but its primary impetus. This is as it should be. We feel privileged to be in a position to give back, and we do. My parents would have expected nothing less of me.

I am not, by training or disposition, a policy wonk, polemicist or pamphleteer. I confess admiration for those who, with greater clarity of expression and command of the relevant statistical details, make these same points with more eloquence and authoritativeness than I can hope to muster. For recent examples, I would point you to “Hunting the Rich” (Leaders, The Economist, September 24, 2011), “The Divider vs. the Thinker” (Peggy Noonan, The Wall Street Journal, October 29, 2011), “Wall Street Occupiers Misdirect Anger” (Christine Todd Whitman, Bloomberg, October 31, 2011), and “Beyond Occupy” (Bill Keller, The New York Times, October 31, 2011) – all, if you haven’t read them, making estimable work of the subject. …

Read more.