Taxation

barack hussein obama's efforts at generating class warfare as an ingredient in his struggle to remain in power is being played out in the US Tax Code and more particularly with the so-called "Bush Tax Cuts" that are about to expire.

The only thing obama has told the truth about is his unflagging dedication to bring Euro-style social welfare to the nation. Look to Illinois and the string of corruption he left: Blago, Burris, Rezko, Ayers, The Chicago Annenburg Challenge, Acorn, and a state pension fund $160 billion in the red. I'm not speaking about him as if he was a dog -- but in a metaphorical sense, he does have the habit of urinating on the truth -- and he doesn't want the American people to smack him on nose with a newspaper in November.

Last Friday, obama revealed the narrative for the obama re-election campaign of 2012, distorting the truth and using his jibe to rewrite history. As with much of obama's schtick, the truth isn't nearly as important as it is that you believe what he's saying.

This is what obama wants you to believe:

Bush hurled the global economy on a path toward depression by cutting the taxes of millionaires. Obama then came to the rescue with his policies — but the Republicans dug us into such a hole that it's taking even longer to dig out.

The trouble with this myth is that even Democrats running for re-election are shunning it.

Investor's Business Daily reports the Democratic Party's on-the-ground response this way:

Take Rep. Gary Peters, who represents Detroit's northwestern suburbs. As the National Journal's Jeremy Jacobs put it last week, Peters "supports extending the Bush tax cuts for the wealthiest Americans, which Obama opposes." Peters told the Detroit Free Press that "anything less jeopardizes economic recovery."

Peters also opposes the new $50 billion-plus Obama Stimulus II.

But he — like a lot of other Democrats in trouble right now — voted for the Obama Stimulus I, and has a lot of explaining to do as to why the promised jobs haven't materialized.

The president's explanation of why Democrats are deserting Obamanomics? "In an environment where we've still got 9.5% unemployment, people are going to make the best argument they can right now." But the president's own "best argument" is simply dishonest.

He claims that "the policies of the previous decade ... that cut taxes, especially for millionaires and billionaires ... ultimately culminated in a financial crisis and a terrible recession that we're still digging out of today."

Wrong. Cutting taxes on income and investment had nothing to do with investors discovering that much of the mortgage debt in their portfolios was junk. How could it?

Liberal politicians are to blame. They spent many years pressuring lenders to give mortgages to people with bad credit ratings, warning that not to do so made the institutions guilty of discrimination against the poor and minorities.

obama hopes that class warfare will destroy his opponents, and maybe it would work if it wasn't the "rich" who employ people. I've been employed, never by a poor person or destitute institution.