Robbing Peter to Pay Paul is a Powerful Slogan among Marxists!
It’s so winsome, especially if you are a Paul, as I am. And there are so many of us ‘Pauls’…..(the robbery seems so fair! But what is the cost of this Obamarule? Think of things GREECE, fellow Americans before you ever vote Greek!)
Obama Stresses Fairness in Building Durable Recovery
By Alexis Simendinger
President Obama, accused by his Republican opponents of making a rocky economy worse, used his third State of the Union address to argue to tens of millions of prospective voters that he is the leader with the passion for fairness, and the policy vision, to deliver an “America built to last.”
The president wrapped that phrase around his efforts to revive an economy still deeply shaken by a housing bubble, corporate excesses pegged to complex financial bets and borrowed money, and rules seemingly rigged against the little guy. “The state of our Union is getting stronger,” the president assured Americans who consistently tell pollsters they have lost confidence in the country’s direction.
If Obama is to win a second term, he has said he must persuade voters he can deliver tangible and durable prosperity — and soon.
“Built to last” is a phrase President Reagan first used in an economic speech in October 1982, when the country battled high inflation and soaring interest rates. During a prime-time address, Reagan explained that the “big difference between the recovery America is headed for today and the shaky, temporary recoveries of the recent past: This one is built to last.”
He added, “This time, we’re going to keep inflation, interest rates and government spending, taxing and borrowing down, and get Americans back on the job.”
Three years after his inauguration and months after a dramatic turnaround from political centrist to populist, Obama on Tuesday night became a bit of a thief. He borrowed that Reagan phrase, lifted Teddy Roosevelt’s “fair deal” constructs from the turn of the century, evoked President Clinton’s 1996 assertion that “we can’t go back to the era of fending for yourself” — and followed Harry Truman’s mode that an embattled president stymied by lawmakers can and should campaign against them.
“We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by,” Obama said, “or we can restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules. What’s at stake are not Democratic values or Republican values, but American values.”
Obama’s speech, studded with policy initiatives both new and recycled, was also a political blueprint, consciously drawn to contrast with the Republican challengers who are slashing their way through this year’s primary contests. The next one takes place in Florida in just one week. The White House and Obama’s campaign team still believe Mitt Romney has the best shot to become the GOP nominee, despite Newt Gingrich’s current surge. Using an annual Washington ritual and more than an hour of uninterrupted TV coverage, Obama laid down his markers for those watching.
Although White House aides insisted that Obama’s address would be a traditional policy stem-winder to accompany his next budget, which will be unveiled Feb. 13, no one was buying that spin, even the president. Supporters and those who receive information from Obama’s campaign received personal email messages (with appeals for donations) from the president shortly after 7 p.m. Tuesday. “Dear Betty,” one such email read. “I’m heading to Capitol Hill soon to deliver my third State of the Union address. Before I go, I want to say thanks for everything you’re doing. Tonight, we set the tone for the year ahead. . . . I’m glad to know you’ll be standing with me up there. Barack.”
As expected, middle-class Americans were protagonists in Obama’s tale of a revitalized nation. He argued for tax relief for middle-income earners, pegged to another extension of the payroll tax holiday — a fight that will resume in Congress when the current one expires Feb. 28 — plus retention of the Bush tax cuts for those earning less than $250,000 a year.
Obama challenged Congress to work with him to overhaul the tax code so that individuals earning more than $1 million a year would pay an effective tax rate of at least 30 percent. That new detail — 30 percent, an arbitrary equalizer representing what White House advisers said most middle-class wage-earners pay annually — expanded Obama’s embrace of the so-called “Buffett Rule,” named for billionaire advocate Warren Buffett.
It also coincided with Romney’s release Tuesday of his 2010 tax return and estimated tax information for 2011, which confirmed that the former Massachusetts governor, a multi-millionaire, paid an effective tax rate of about 14 percent.
A “fair deal” on taxes, Obama proposed, would bar those making over $1 million from taking advantage of tax deductions and subsidies currently allowed by law for mortgages, health care, retirement, and the costs of child care. The wealthy also could no longer qualify for food stamps, unemployment benefits or farm subsidies, the White House said. Previous news reports have underscored that no one who earned more than $1 million received food stamps recently, and in 2009, about 2,300 got unemployment benefits. The real target for the administration is likely the farm subsidies tapped by wealthy — and mostly Republican — farmers, possibly including a few in Congress.
While Romney has said he would veto the DREAM Act — legislation that would provide conditional permanent residency to some illegal aliens — Obama used his speech to reassure Hispanics that he wants to achieve a pathway to citizenship during his second term. “I will sign it right away,” the president said. Democrats believe Latino voters, along with independents, will make or break Obama’s chances for re-election. “We should be working on comprehensive immigration reform right now,” he added to applause in the House chamber.
Rather than offering U.S. corporations generous tax incentives to hire more workers but without conditions, as many Republicans advocate, Obama said he would ask Congress to work with him on “comprehensive corporate tax reform” that would close loopholes, eliminate incentives that encourage companies to ship jobs overseas, while also lowering some rates. The president said he would like to make all U.S. companies pay a minimum tax on their overseas profits, while creating a new tax credit to cover the “moving expenses” of companies that opt to shut down their operations abroad and bring their businesses home, offering jobs to U.S. workers.
Although Romney has said he would not have bailed out the auto industry, Obama touted his decision to back an industry that has recovered. “On the day I took office, our auto industry was on the verge of collapse,” the president said. “Some even said we should let it die.”
(The president will travel to Michigan on Friday, where he will reiterate his points and explain policies mentioned in his State of the Union address to help reduce college costs.)
With the national unemployment rate at 8.5 percent, the president used his speech to tout manufacturing as a bright spot in the economy. He urged Congress to work with him to enact tax changes to support new capital investments in communities hardest hit by job losses.
In Obama’s telling, big corporations are both the beacon of the future and something of a bane among middle-class workers during a time of layoffs, outsourcing, and high unemployment. The president celebrated high-tech innovators, American manufacturers, the auto companies, and energy-saving businesses of all stripes. But at the same time, to appeal to average Americans, he suggested in his address that Republicans, if they controlled Washington, would seek to return the country to an anything-goes corporate climate that contributed to the financial meltdown in 2008.
As Reagan did in his 1982 speech, Obama gazed backward, rather than at the evidence of a stutter-step recovery since he took office in 2009. “We will not go back to an economy weakened by outsourcing, bad debt, and phony financial profits,” he declared.
In the wake of the great recession and in the midst of a foreclosure crisis nationwide, independent government watchdogs have criticized the administration’s efforts to help troubled borrowers remain in their homes. Americans across the political spectrum have expressed bewilderment that mortgage fraud, foreclosure irregularities and investor fraud inside the big banks were not investigated and prosecuted.
Eager to make a rhetorical show of helping mortgage borrowers, Obama focused on “every responsible homeowner” and the benefits they could realize by refinancing mortgages that are in good standing. They are getting the “runaround from the banks,” he said, and if Congress agrees on some legislative changes that tap a proposed fee on the banks, those borrowers could save $3,000 a year through refinancing.
This part of the president’s agenda, along with an order to Attorney General Eric Holder to set up a “Financial Crimes Unit” to prosecute “large-scale financial fraud” — three full years into his administration and after years of documented greed, criminality and mismanagement on Wall Street — were among the weakest and least credible of his address. The applause among lawmakers for these initiatives was muted, even among the Democrats. Treasury Secretary Tim Geithner, formerly the head of the New York Federal Reserve as the financial crisis erupted and the economy took a swan dive, clapped slowly as Obama moved through those passages, his brow furrowed.
Republicans were on their feet when Obama talked about opening more offshore territory to oil and gas exploration; when he said a smaller, smarter government made sense; and when he talked tough about the Assad regime in Syria.
The president asked Congress to help him govern, but his intended audience Tuesday was far outside the Capitol. Collaborative, or combative, Obama framed his message around leadership and vision.
“While we may not be able to bridge our biggest philosophical differences this year, we can make real progress,” he said. “With or without this Congress, I will keep taking actions that help the economy grow. But I can do a whole lot more with your help. Because when we act together, there is nothing the United States of America can’t achieve.”
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