It’s ironic that Obama wants to make income inequality his major issue, since it’s only gotten worse since he’s been in office. Over the past five years, the rich have done great, while the poor and middle class have gotten poorer. Ironically, the Federal Reserve just reported that US household wealth rose by over $1.9 trillion in the third quarter of this year. But that’s mostly due to the stock market and recovering home values, so again, it’s concentrated in a small number of households. If you’re in the bottom 70 percent or so, wealth redistribution sounds great, until you realize it’s your non-existent wealth that’s getting redistributed. For instance, under Obamacare, struggling middle class families who were happy with their health insurance may soon have to pay $6000 a year for a new, so-called “gold” policy with a $6,000 deductible. That means they’ll have to spend a whopping $12,000 on premiums and health care before they see a penny of benefits. And where does that $12,000 go? Not into their health savings accounts. And if the President thinks the government should have a role in equalizing incomes, the American Enterprise Institute suggests that he start in his own office. According to the latest federal payroll records, even after five years in the White House, his female staffers still make just 87 cents for every dollar his male staffers make. Personally, I’d suggest balancing that out by slashing everyone who worked on the Obamacare website to minimum wage.
Posted on: Thu, 12 Dec 2013 21:30:01 +0000
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