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FM
Former Member

The Marxist Transformation of the United States of America

 

The Marxist transformation of the United States of America has been swift and dramatic.  The arrogance and efficiency with which Barack Obama changed the economic and social landscape of the United States has been so dramatic that elected Republicans in our House and Senate are now backing Obama and others are fearful to give opposition.

 

The taxation bill passed by both our Senate and House will raise only $60 billion per year, which is only half of what Obama had demanded.  For this $60 billion in raised taxes each year, only $15 billion in total spending cuts will take place over the entire next 10 years.  The ratio of tax increases to spending cuts comes out to an astounding ratio of 41:1, something one might expect to see coming from a corrupt Banana Republic Communist dictatorship.  With projected deficits of more than $1.1 trillion per year, $60 billion a year confiscated from the job creators is simply going to further sour our economy.

 

Obama pushed the resolution of the Fiscal Cliff past midnight on New Year’s Eve, eliciting fear in the hearts of the cowardly Senate Republicans who joined with the Democrats is passing this Marxist redistribution of wealth.  The Republican controlled house passed the Senate bill.  The “emergency” to avert the Fiscal Cliff was simply a ploy as old as Socialism itself.  As President Herbert Hoover observed,

"Every collectivist revolution rides in on a Trojan horse of 'emergency'.
It was the tactic of Lenin, Hitler, and Mussolini. In the collectivist
sweep over a dozen minor countries of Europe, it was the cry of men
striving to get on horseback. And 'emergency' became the justification of the subsequent steps. This technique of creating emergency is the greatest achievement that demagoguery attains. 

I use the term “Marxist” in all seriousness because what Obama is doing with his tax, spend, and regulatory policies is destroying both the upper and middle classes, and thus the economic productivity of the United States.  President Obama is demanding a $50 billion stimulus package, which he will distribute to enrich unions and his other selected supporters.

 

This is not the end of Obama confiscating wealth and property from small business owners and other high value producers.  The current deal did not address the $60 billion per year cut from our military budget, and Obama is now demanding more tax money before Obama will address these military budget cuts.  In addition, Obama is demanding he be given an unlimited debt ceiling, and Obama is telling Congress this is not even open for discussion.

 

Had taxes not been raised on the small business owners, the $60 billion would have remained in the private economy as a stimulus package untouched by the hands of bureaucrats and politicians.  Obama’s obvious goal is the redistribution of wealth and property to his Progressive Elite supporters and not prosperity for everyone.

 

Before Obama, 70% of the wealth of the United States was in the hands of 5% of the people, which one would expect for a free nation.  Should Obama succeed in his destructive goals, 100% of the wealth will be in the hands of the upper 1%, who will include the Far Left politicians, the supporters of the Far Left politicians, and bureaucrats.  Such is what happened in Russia, the Soviet Union, the People’s Republic of China, Cuba, and other Marxist nations.  The government owns and controls everything.

 

Obama already tells us our money is his to tax and to confiscate at will.  All money belongs to the Obama government and resistors could be executed. The government already tells us what kind of light bulbs we can use, what kind of fuel mileage our vehicles must achieve, how much electricity our appliances can use, how much water our showers and toilets can use, and what kind of health insurance coverage we can have.

 

Obama is not following Bill Clinton’s advice.  Clinton said back on 13 October 2011,

“Should you raise taxes on anybody right today — rich or poor or middle class? No, because there’s no growth in the economy.”

What amazes me is that Washington is not following the wisdom Senator Barack Obama shared with us back in March of 2006,

"The fact that we are here today to debate raising America 's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America 's debt weakens us domestically and internationally. Leadership means that, ‘the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

The American people deserve much better

Replies sorted oldest to newest

The idea that Obama is a Marxist is the height of stupidness. Marxists  have plenty of problems, but they are not known for dismantling a country's safety net in order to bail out banks.

FM
Originally Posted by Henry:

The idea that Obama is a Marxist is the height of stupidness. Marxists  have plenty of problems, but they are not known for dismantling a country's safety net in order to bail out banks.

Henny...I am sympathetic to you because you like Hamilton, although you misinterpret the man.  I think you will enjoy this article: http://www.theatlantic.com/mag...ericas-banks/309196/

FM
Originally Posted by TK:
I think you will enjoy this article: http://www.theatlantic.com/mag...ericas-banks/309196/

The article asserts the following:

For the past four years, the nation’s political leaders and bankers have made enormous—in some cases unprecedented—efforts to save the financial industry, clean up the banks, and reform regulation in order to restore trust and confidence in the American financial system.



This is untrue. In fact, they have bent over backwards to avoid cleaning up the banks and reforming regulation in order to restore trust and confidence in the American financial system. The Dodd-Frank Bill, the Volcker Rule, these are attempts to fake out the public and appear to be doing something, while not doing the one thing that would work: a restoration of the original Glass-Steagall Act. The Act is mentioned in passing in the article, mainly in order to brush it aside and claim that the problem is "opacity." I agree that opacity is a problem, but it's not the problem.

FM
Originally Posted by Henry:
Originally Posted by TK:
I think you will enjoy this article: http://www.theatlantic.com/mag...ericas-banks/309196/

The article asserts the following:

For the past four years, the nation’s political leaders and bankers have made enormous—in some cases unprecedented—efforts to save the financial industry, clean up the banks, and reform regulation in order to restore trust and confidence in the American financial system.



This is untrue. In fact, they have bent over backwards to avoid cleaning up the banks and reforming regulation in order to restore trust and confidence in the American financial system. The Dodd-Frank Bill, the Volcker Rule, these are attempts to fake out the public and appear to be doing something, while not doing the one thing that would work: a restoration of the original Glass-Steagall Act. The Act is mentioned in passing in the article, mainly in order to brush it aside and claim that the problem is "opacity." I agree that opacity is a problem, but it's not the problem.

 

How would you deal with the banks?

FM

Banking separation. Commercial banks receive the full insurance protection of the FDIC. "Investment" banks can gamble to their hearts' content, but they will not receive a penny from the government when they lose, and they are forbidden from contaminating the commercial banks. Also, no government protection for hedge funds, insurance companies, HMOs, or any other sort of racket.

FM
Originally Posted by Henry:

Banking separation. Commercial banks receive the full insurance protection of the FDIC. "Investment" banks can gamble to their hearts' content, but they will not receive a penny from the government when they lose, and they are forbidden from contaminating the commercial banks. Also, no government protection for hedge funds, insurance companies, HMOs, or any other sort of racket.

That's about right. Have to get back to something akin to Glass-Steagall. Also have to make sure that banks don't do proprietary trading, which is a serious problem. Hedge funds don't get bail out from govt but central bank did intervene. 

FM

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