Heather Horn at The Atlantic with the round-up
President Obama spoke the most revealing and clarifying 10 words of his control-freak administration this week: “I think at some point you have made enough money.” Peddling financial regulatory reform at a rally in Quincy, Ill., Obama then ad-libbed peculiar definitions of what he called the “American way” and the profit motive: “(Y)ou can just keep on making it if you’re providing a good product or providing good service. We don’t want people to stop, ah, fulfilling the core responsibilities of the financial system to help grow our economy.”
Fundamental lesson of Capitalism 101: Governments and bureaucrats don’t make what people want and need. They only get in the way. It is individuals, cooperating peacefully and voluntarily, working together without mandate or central design, who produce the world’s goods and services. They make what people desire and demand for themselves, not what Obama and his imperial overlords ordain that the masses should have.
As usual, Obama’s populist demagoguery is telling in its omissions and selectivity. While he lectures on the morality of salary caps for everyone else, his own cabinet is filled with fabulously wealthy CEOs and statist creatures who have parlayed government employment (a “good” service) into private gain as lobbyists, consultants and advisers (“core responsibilities of the financial system”) and then back again to public stints. Revolving doors have always grown the Beltway economy.
Carol Platt Liebau at Townhall:
If the President would deign to take questions from the press, here are two that might profitably be asked of him:
(1) At what point does the President deem someone to have “made enough money”? (Would his erstwhile supporter, Warren Buffett, qualify?)
(2) What percentage of one’s money — max — does the President think the federal government is entitled to claim, before and after one has made what he proclaims to be “enough”?
In another of his speeches, the President once declared:
[I]t’s right to expect that if you’re willing to work hard in this country of American Dreamers, the sky is the limit on what you can achieve.
Apparently, that’s true unless and until your earnings bump up against what the President considers appropriate.
Lori Ziganto at Redstate:
Oh, really, President Obama? If you are so worried about people who’ve “made enough money”, you may want to have talk with a few people. Here’s a tip for you: start with George Soros. You’re welcome.
This is what Obama and his administration honestly believes. Having never worked a day in the private sector in their lives, they can only manage to put on big boy pants, but not to also act like big boys. As such, their naive view of the world and it’s “unfairness” reigns supreme and clouds absolutely every part of their agenda. To the point where apparently no one has told him that deciding how much money anyone makes is not his job and is, in fact, antithetical to the core principles of our nation.
Not only is he prancing around giving speeches about evil Wall Street, filled with feel good nonsense and super serious faces that even those who voted for him no longer believe, but he’s doing so when people are huddled around staring dejectedly at a one page Classified section. You know, Obama, people would like to make some money, reaching your apparent “too much” threshold or not, to provide for their families. Demonizing business isn’t going to do that. You know what will? Stop bailing out poorly run businesses. Stop regulating the good ones out of business.
Stop taxing them out of employing people.
I mean, at some point, hasn’t the Government made enough money?
J.P. Freire at The Washington Examiner:
Obama says you’ve made enough money. Easy for him to say when his income last year looked like this:
In a stump speech in Quincy, Illinois, President Obama suggested that “I do think at a certain point you’ve made enough money.” Video here.
Obama made almost $5.5 million last year, most of which came from book royalties according to his tax return.
This comes on top of the other millions of dollars Obama received in previous years. The fact that Obama has been in the public spotlight as a politician has undoubtedly had an impact on the royalties of his two books as well. Go ahead and compare Obama’s 2009 income with other presidents here.
Ed Driscoll at Pajamas Media
I wonder if he will pass on his advice to the city of San Francisco, where according to the Chronicle, “More than 1 in 3 of San Francisco’s nearly 27,000 city workers earned $100,000 or more last year — a number that has been growing steadily for the past decade.”
Related: “So, who wants to be the first one to tell Oprah?” Meanwhile, from a nation even further down the commuter train to serfdom than America, Brian Micklethwait observes “the unintended consequences of President Obama.”
Jim Hoft at Gateway Pundit