The State of the Union from President Obama was full of predictable liberal bromides – the most egregious of which is in his idea of helping the middle class by increasing taxes on “the rich.” I put “the rich” in quotes because rich is a highly subjective term in the hands of liberal politicians.
The portions of the speech dealing with the rich vis. a. vis. the middle class reveal in stark detail that Obama knows next to nothing about either.
First the rich. The fact is, beyond a certain point, you can’t tax the rich. One of the nice things about being rich is that you don’t live paycheck-to-paycheck. If you’re rich you can defer your income until a more favorable time. You can put your money in tax exempt securities. You can move it offshore. History has shown time and again — the more you raise taxes on the rich, the more of these these things they do.
As to the middle class. Our president seems to think that America’s middle class – that has for nearly a century been the envy of the world – was somehow created by government. It wasn’t.
The middle class grew into the bone and sinew of the most successful nation on Earth because of economic expansion brought about by a predominant cultural belief in free people and free markets. The middle class is not the product of a government-brokered transfer of wealth from one group of Americans to another group of Americans. The middle class created its own wealth through opportunity and hard work.
A Harvard-educated man such as Obama would know this – if they still taught such things at Harvard.