The transmogrification of the United States from a seaworthy vessel to just another European garbage scow has been sudden and steep, yet the attitude remains among the elite of the media and Left that more taxation and regulation must be put in place to prevent too much success by those who do not share their political bent, inexplicably choking the very lifeblood of an economy in dire need of resuscitation.
Apparently a 16,845 word tax code is not sufficient. Apparently Sarbanes-Oxley did not create enough new regulations so Congress doubled-down with Dodd-Frank. The 32 Czars were not sufficient enough for this administration to circumvent The Constitution and Congress and create policy unilaterally, so a 33rd was added in the form of Richard Cordray to “protect” consumers, which is a rather sickening twist considering no entity protects the ever-shrinking number of taxpayers from Congress, and Congress is doing nothing to protect taxpayers from a president who has used the art of Origami to turn The Constitution into a party hat.
Taxpayers did not cast a vote for insolvency. Nobody ever ran for office on a platform of co-mingling defined benefit money (Social Security) with general fund expenditures, which is a crime in the real world but apparently OK in an institution rife with malfeasance and a justice department infected with misfeasance. Mortgaging, borrowing, and debt offer a certain flexibility when used intelligently and prudently, but fast tracking toward tripling the national debt in one presidential term is the very definition of insanity. If someone approached Berkshire Hathaway to invest in a company with a balance sheet leaking as much oil as that of the United States, Warren Buffett would turn up his nose as if he caught a nasty whiff of the feedlots surrounding Omaha, and he would assuredly give a fatal diagnosis toward that entity’s ability to restructure when road blocks like high-minded taxes and over-regulation threatened its path to recovery, so any integrity that remains for Mr. Buffett is aswirl in the bowl after shilling for Mr. Obama.
No observation on the incestuous Obama-Buddy-System would be complete, of course, without a cursory glance at Jeffrey Immelt, the CEO and Chairman of General Electric. Less than a month after Mr. Obama took office he appointed Immelt a member of the President’s Economic Recovery Advisory Board to provide advice on how best to turn around the economy, and since, the business environment and fiscal policies have only deteriorated. As another example of abstruse reasoning that defines this president, in January of 2011 he made Immelt via yet another presidential executive order the Chairman of the Council on Jobs and Competitiveness. In the interim, General Electric was the beneficiary of $350 Billion government bailout, the company posted over $14 Billion in profit for the most recent fiscal year on record, and paid no income taxes thanks to a $3.2 Billion Federal Tax Credit.
Incredibly, Mr. Immelt showed his appreciation by closing GE’s X-ray plant operation in Wisconsin in August of this past year and moved that division to China, most likely with a few million or so absentee ballots in hand. Mr. Immelt is imminently capable of creating jobs, but apparently misconstrued upon which continent those jobs were to be formed. Meanwhile, we were promised transparency by this administration and, apparently, are getting it: support my moonstruck policies and I’ll help you line your pockets; cross me and I will regulate and tax you into oblivion with or without the approval of Congress.