Obama and his team are clever in their presentation, because the middle-class quickly forgets this little factoid: It’s YOUR money he is using as an incentive!
What are the overtures—the bait—Obama uses to fishhook middle-class Americans? According to this report from ABC news, one of the incentives Obama is offering is a tax incentive on child care. Big whoop.
These days the average “working American” now works through August for the government. At this rate, why not just turn the kids over to the government, and let the government raise them! I’m sure the media won’t mind!
This tax incentive essentially rebates part of YOUR money, but is limited to people who make less than $115,000—about two seconds of interest on the national debt. To ignorant people, $115K sounds like a lot of money. I assure you this is not much money for a family of four, particularly when those kids get to college age.
The bigger picture is that here again, Obama is setting the hook on what is rich and what is not. And more than $115K is apparently rich. That’s not even Paris Hilton’s purse budget for a month!
Anyway, if the government is going to give people THEIR money back, then why put a limit on who can get it? Unlike Obama’s cabinet and czars, the average American actually pays his taxes. Is working through August not enough or does Obama wants Americans working through November for the government? Actually, at the rate of the national debt, we are all working in arrears in order to satisfy our debt to the Fed.
Another “incentive” in Obama’s middle-class fishing trip is he wants to match your 401(K) savings with a $500 tax credit. And what money is Obama planning to use to match your savings…YOURS! There is a recurring theme afloat, hmmm…
This isn’t even the slightest bit clever! Government doesn’t create any money, though they can inflate it by printing more, something Obama has already done. So again, Obama is manipulating our money to give us incentive to save. Back to this in a minute…
Think about this in terms of your bank. Imagine the president of Bank of America sending you a note that says,
“Dear Patron, I would like to offer you this new fantastic incentive. If you will save $1000, I will give you a credit of $500…using your own money! And if that is not incentive enough, remember that when you reach the age you can get your money, I’m still going to tax your butt, but good. Have a nice day!”
A bank CEO would be embarrassed to offer this “incentive” to you, but the Boy Wonder has no shame. He’s such a doofus, that he is actually proud of his new program. The messiah is “giving back.”
The irony of this program is not lost on me that Obama is giving us incentive to save—using our own money—while simultaneously encouraging us to “spend our way out of debt!”
Note in the video Obama’s blaming of the Bush administration, and its handling of TARP funds, meanwhile praising his time-tested technique of “spending our way out of debt!”
If saving is good for the ordinary people, shouldn’t it work for the government? In full disclosure, I did not attend Harvard, and my alma mater Southern Methodist University didn’t offer a class in “Stupid Theoretical Ivy-League Economics”.
The question the America middle-class should ask is, “Am I am bass, a croppie, a perch, or a catfish?” Or perhaps you consider yourself a big fish, a saltwater variety, perhaps a Marlin?
Regardless, Obama has chartered the boat, has all the gear…and all the bait. The bait is your OWN money!
All he needs to do now is find out the threshold for most people to buy into his vision of communism. Unfortunately for him, due the election of Scott Brown, the price of communism just went up.
Thankfully for Obama the poor have been purchased, though he continues to sweeten the deal. As with all things Obama, if you’re poor, as in you don’t pay taxes; fear not! There is still incentive built in for you to “save.” Remember: Obama is with the government—he’s here to help. Lucky for you, Obama-love don’t cost a thang!
But the middle-class knows not to take the first offer, so I expect Obama to do a bait change, and sweeten the deal. He will go from the spinner lure to a blood bait. Because one thing I know about human nature is we all have our price.
I predict, nevertheless, that Obama doesn’t have enough bait to make this work. With the national debt cresting $12 trillion, the bait keeps getting smaller and smaller, and the lines between rich and poor continue to blur. I hope Obama is not depending on fish for dinner.
That’s my rant!
© 2010 Kevin Jackson – The Black Sphere All Rights Reserved