Good for you Mr President, you won. Huzzah. Thank Sandy? The Senate stayed blue; turned bluer, even. My only advice is not to run the money-printing presses the full twenty-four hours a day. They’ll melt. But don’t worry about running twenty-three hours. Nobody can count to sixteen, eighteen, twenty…trillion anyway.
No dream lasts forever. Half of us decided that we want more, not less government; more, not less regulation; more, not less oversight in the minutia of our lives. Half say we want less, not more personal responsibility. We want higher taxes, and the fatter bureaucracies on which those taxes feed, which in turn foster more dependency on government and away from families.
Is it a coincidence that just under half of us do not pay any federal income tax, but these same folks are ready to claim the “rich” aren’t paying their “fair” share.
Perhaps the most brilliant of Mr Obama’s moves was to, without a single Republican vote, while simultaneously complaining about Republican obscurantism, pass his health care and to saw that that law should not begin until after this re-election. Ah, maybe it wouldn’t have mattered. The sound of “free” health “insurance” was too alluring. But stand by for a massive wave of taxes and paperwork which is about to descend upon us.
Part of Obamacare was the HHS “mandate.” A mandate thought up by an isolated, progressive bureaucracy, not voted on by anybody, which forces Catholic and other religious employers, including those that self-insure, to pay for their employees’ birth prevention and abortifacient medications. Because they are employees. Some believe this
is just an “isolated” stomping of the Constitution. How cute.
Word is many businesses are hiring fewer and more limited-hours workers to avoid many of Obamacare’s more draconian taxes, which kick in only for full-time employees. Never worry: those that don’t have regular jobs always have food stamps. Or 99 weeks of unemployment. Or welfare.
How soon until we, like Europe—which relied on our military and used the largesse to fund their welfare states—start discussing “austerity” measures? When what we really mean are responsibility measures, sobriety measures, and not spending ridiculous amounts hoping the money can be prised from the wealthy. Then maybe this isn’t a problem. Mr Obama never submitted a budget his first term, why should expect one in his second?
Don’t lets forget the Supreme Court, which will have two or so more progressive justices by 2016. A majority, and unbeatable. Like the changes instituted by FDR before, we are in for a long haul to the left.
Say, did you hear? Even Elizabeth “Fauxcohantus” Warren won a Senate seat. The lesson appears to be that if you’re a progressive, it really doesn’t matter what you have done (think Bill Clinton, etc.), just what you say you will do.
Let’s don’t think about China’s burgeoning navy—and the disputed waters with Japan and Taiwan! Let’s not worry about Iran—they don’t mean what they say! Let’s not fret about Russia—the submarine spotted off our coast Monday was an aberration! Let’s turn inwards and solve our own problems and let the world take care of itself.
Hey, look at any county-by-county election map. The country is overwhelmingly, by land area, Red. Cities, where on average rich people go to make deals with the government and the poor go to get free stuff, voted Blue. Rural areas, where on average people work or sink, and rely on their families and communities when they do sink, voted Red.
The trick for investors will be to figure which industries are to make the best deals with the government. Car companies? Union-reliant ones, yes. Wall Street banks? Some, not all. Health insurers? A few. Solyndra-type “new energy” firms? Oh, yes. Get in on the winners early, or see your investment companies labeled “rich” and your assets taxed and regulated. It’s only un-hip corporations that are part of the “1%”. Apple Corporation, despite being richest (in one sense), isn’t 1%. Oil companies, despite having less, are.
What will happen is that, as desired, equality of wealth and income will increase. But the absolute level of wealth will decrease. See, inter alia, Spain, Italy, Portugal, Greece, Ireland. There will be fewer people in control of proportionally more, both in and out of government. Imbalance in an absolute sense will increase. This will perplex many.
This isn’t too coherent, nor specially congratulatory, but it’s a fair stretch more gracious than many of the poor winners of the far left.
The only question before is: how long? Fifty-ish years? One hundred? More? Problem is, most of us reading this will be dead by then, and won’t be able to say I told you so.
Note: we return to normal material tomorrow and forget elections. Until the next one.