Obama: We need more taxes and regulations, so we can have more bottom-up economics

posted at 4:01 pm on June 23, 2012 by Erika Johnsen

President Obama has a provoking penchant for using seemingly simple, yet reassuringly intelligent-sounding, business and economic terms in a wildly misleading manner (regular readers know I’m convinced that somewhere a fairy dies every time the word “investment” escapes his lips). In this latest instance of beguiling economic messaging at a campaign rally in Florida on Friday, President Obama touted the need for more “bottom-up” economics:

He told his audience Republicans, including presumptive presidential nominee Mitt Romney, “believe that we should go back to the top-down economics of the last decade.”

“They figure that if we simply eliminate regulations and cut taxes by trillions of dollars, then the market will solve all of our problems,” Obama said.

“They argue that if we help corporations and wealthy investors maximize their profits by whatever means necessary — whether through layoffs or outsourcing or union-busting — that it will automatically translate into jobs and prosperity that benefit all of us. …

“We don’t need more top-down economics,” he said. “What we need is some middle class-out economics, some bottom-up economics.”

Hey, President Obama — you know what else helps corporations and wealthy investors? Gigantic bailouts and engendering an over-involved big-government environment conducive to rent-seeking and crony capitalism.

While most people might think of the term “top-down” as referring to the gratuitous offices of federal intrusion, President Obama is using the term for thinly-veiled class-warmongering; as in, enough with allowing the wealthy financial class to ostensibly control all the wealth and call the shots.

But peeling back regulation and lowering taxes is the way to create bottom-up economic growth. How and why is an American entrepreneur going to start a small business if he knows that, even if he manages to get through all the red tape and make a profit, the government will tax the bejeezus out of him? President Obama’s policies discourage growth, and the free market can solve our problems.

President Obama also went on to warn his supporters that Republicans will “spend more money than we have ever seen in the history of the Republic” in endeavoring to thwart his reelection bid. Guess he only has a problem with record-smashing amounts of campaign cash when it isn’t his campaign that benefits.

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Comment pages: 1 2

Been to many TEA party rallies, have you? Or are you merely engaging in rectal speak?

As usual…

JohnGalt23 on May 24, 2013 at 1:46 PM

As I just posted HotairLib has their whole head up their six o clock.

hamradio on May 24, 2013 at 2:43 PM

Who wrote the speech? Or are you just praising the messenger?

mixplix on May 24, 2013 at 2:57 PM

MSNBC consensus: Obama’s speech was historic, amazing, “one of the best of his presidency”

Connect the dots: journolist meeting by invitation only at the White House on, what Tuesday?, “big”speech by Obama on Thursday, lame stream media fawning over speech on Friday. Who would have seen that coming, huh?

parke on May 24, 2013 at 2:58 PM

They need the “war on terror” in order to further erode our Constitutional freedoms and to deflect criticism from the administration’s and Federal government’s ongoing corruption.

They are just trying to massage it so that they don’t offend the Muslims, international Libtards and their own sensibilities anymore than necessary.

A few Muslim terrorists here and there are quite expendable to this Administration despite their sympathies for them. These drone attacks also do much deflect any potential criticism that the Administration is weak in dealing with such matters.

Dr. ZhivBlago on May 24, 2013 at 2:59 PM

MSNBC is nothing but a left wing propaganda machine serving their master, Obama.

rplat on May 24, 2013 at 3:07 PM

Nobel Peace Prize that he totally earned a mere nine months into his presidency? Yeah, that one.

I believe that he was officially nominated 10 days after he was sworn in. Wow! The WON really worked long hours that week and a half to earn that POS medal. During those ten days he ordered NO DRONE STRIKES to keep his peaceful record clean.

fred5678 on May 24, 2013 at 3:22 PM

Obama: Don’t worry about that Ben Ghazi guy. I killed Bin Laden, and Bush didn’t!

And Obummer still wants to close Gitmo? Good luck with that–not even Upchuck Schumer was willing to hold trials in New York!

Steve Z on May 24, 2013 at 3:24 PM

They need the “war on terror” in order to further erode our Constitutional freedoms and to deflect criticism from the administration’s and Federal government’s ongoing corruption.

They just changed the definition of terrorist. They used to be jihadis from the Middle East–now they’re Minutemen in Arizona and Tea Partiers in Ohio.

Steve Z on May 24, 2013 at 3:29 PM

…bromides about what we’re told are President Foreign Policy’s miraculous yet still oddly unmaterialized abilities to move us drastically closer to world peace.

Erika, sometimes your writing shows signs of rivaling even the Master of Snark himself, Allahpundit. Good work!

KS Rex on May 24, 2013 at 3:45 PM

I love how crazy Al invoked the Nobel Peace Prize in praise of a speech that spoke about dropping bombs on people’s head. Maybe it was the “fewer” bombs than before that raised this to historic levels.

Do they even know or care that they are morons.

marnes on May 24, 2013 at 3:46 PM

His speech made less sense than Bluto’s Animal House Speech and was far less entertaining. Nothing less than base rallying time. Never thought I would say this, but Code Pink was the best part.

DDay on May 24, 2013 at 4:01 PM

Sperling posted this at the Examiner on May 23 about this “historic speech of Obysmal’s:

During his foreign policy speech Thursday afternoon, President Obama warned that domestic terrorism would increase in the modern age of the Internet.

“[T]his threat is not new,” Obama said. “But technology and the Internet increase its frequency and lethality.”

Obama warned Americans that materials on the Internet could influence people to commit terrorist acts.

“Today, a person can consume hateful propaganda, commit themselves to a violent agenda and learn how to kill without leaving their home,” he said.

To combat domestic terrorism, Obama reminded Americans that it was important to reach out to Muslim communities.

“The best way to prevent violent extremism is to work with the Muslim American community — which has consistently rejected terrorism — to identify signs of radicalization and partner with law enforcement when an individual is drifting towards violence,” he said. “And these partnerships can only work when we recognize that Muslims are a fundamental part of the American family.”

You see, we are just not working hard enough to “work with the Muslim American community” who are a “fundamental part of the American family.” Watch out, too, because Obysmal is again trying to limit the impact of the Internet.

onlineanalyst on May 24, 2013 at 4:22 PM

That Chris Hayes is a bit of a twink, isn’t he?

onlineanalyst on May 24, 2013 at 4:25 PM

Obama apparently gave two speeches yesterday and I watched the other one.

myiq2xu on May 24, 2013 at 5:03 PM

Didn’t take you that long to inject the man’s race into this didn’t it? And you wonder why blacks will never accept you tea billies hate the man simply because he’s a black man occupying the “people’s” house.

HotAirLib on May 24, 2013 at 1:00 PM

Nah. I’d detest the little pissant s.o.b. if he was white…or Asian…or any one of the myriad of made-up racial divisions.

Solaratov on May 24, 2013 at 11:00 PM

Comment pages: 1 2