Top 10 Obama Attacks on Capitalism

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Human Events:


President Obama occasionally cozies up to the corporate world, especially during fund-raising time, and delivers a modicum of support for business. But have no doubt about it, this is a man who honors the power of government over the marketplace. Here are the Top 10 Obama Attacks on Capitalism:

1. Spread wealth around: This famous utterance—“I think when you spread the wealth around, it's good for everybody”—to Joe the Plumber during the 2008 presidential race, remains the saying that most succinctly sums up Obama’s worldview, that of a community organizer, which is that accumulated wealth is to be reviled and rectified through redistribution. Nothing could be more antagonistic to entrepreneurship, free markets or business investment than to have the government seize the rewards of sound economic decisions in order to try and engineer social equality.

2. Capital-gains “fairness”: During a 2008 presidential debate, Obama gave us another plank in his Socialist mindset by explaining his view on tax-policy fairness. When asked by moderator Charlie Gibson whether he would favor a cut in the capital gains rate if it led to higher revenues as it did during previous administrations, Obama said: “Well, Charlie, what I've said is that I would look at raising the capital gains tax for purposes of fairness.” Seizing higher percentages of earnings from those who made wise investments is preferable to Obama even if it means less tax dollars for his precious government programs.

3. ObamaCare by any means: When battling for his signature health care legislation, Obama saw fit to carry out daily attacks on insurance companies. Even the liberal Washington Post called him out, with an article reporting: “The near-daily demonization of the insurance industry is an attempt by the White House to play to Americans' anxieties about the health-care system.” Typical of his attacks was a speech containing 22 castigations against the insurance industry, such as, “How much higher do premiums have to rise, before we do something about it?" We are still waiting, Mr. President.

4. Bondholders equal speculators: When negotiating the bailout of General Motors, Obama called the automaker’s bondholders “speculators” who were "refusing to sacrifice like everyone else." Apparently Obama’s definition of shared sacrifice didn’t apply to his campaign-backers at the United Auto Workers, which were handed partial ownership of the company saved from bankruptcy by taxpayer dollars.