When an administration has completely botched handling of economic issues during its first term, how does it go about seeking reelection where the economy is the most important issue? Somehow, the logical thing to do is talk about raising taxes. Ordinarily, this would be political suicide, but the Obama administration has found a loop hole.
The old expression goes, “When your neighbor loses his job, its a Recession. When you lose your job, its a Depression.” With just a little tweaking, this is a fitting blue print for Obama’s campaign tactics: “When you’re getting taxed, its evil. But when someone else is getting taxed, its a necessary evil.”
This level of thinking is exactly what Obama has pinned his hopes on when focusing pseudo campaign speeches around advocating for the “Buffett Rule.” By any measurement, with the exception of currying political favor, the Buffett Rule is a completely inconsequential and irrelevant tax. It is estimated to net just $5 billion per year over the next 10 years. By contrast, Obama’s proposed 2013 budget contained a $3.8 trillion spending plan. $5 billion is not a drop in the bucket, its a drop in the ocean.
So why is Obama bringing back the “Buffett Rule” now, when it has been proven to be little more than useless political rhetoric? Simply put, its because it sounds good to the voters Obama is trying to win over.
President Obama knows that he has not improved the economy, that people are still struggling to find work, and that because he has done such a poor job, people are fleeing the workforce in record numbers. So what’s the solution? Distract the voters and shift the blame to the millionaires, the irresistible scapegoat for all the world’s ills to any self-respecting Liberal Democrat.
This is not the first time the President has eluded blame for his myriad policy failures. Cases in point:
The debt ceiling debacle wasn’t his fault, it was the Republicans in the Super Committee he appointed.
If the health care law doesn’t pass, its not his fault, the Supreme Court is abusing its Constitutional authority.
The first stimulus would have worked, if only Republicans had allowed the followup stimulus.
And, of course, we can’t properly frame any conversation of Obama Administration buck passing without their long time favorite: Blame Bush.
President Obama is serial buck passer, but its finally an election year, Mr. President, and the buck stops here.