« Papers, Please! | Main | Specter Redux: Crist Out Of The Closet »

You've made enough money

President Obama, speaking in Qunicy, IL:

Now, what we're doing, I want to be clear, we're not trying to push financial reform because we begrudge success that's fairly earned. I mean, I do think at a certain point you've made enough money.
Video at RealClearPolitics.

So I guess the real question is what does he think that point is? Deciding there is a point where one has made enough money is a very slippery slope. It is in essence arguing that at 100% tax bracket is appropriate. Where does this bracket start? At Bill Gates levels? At the line of rich that Obama used during his campaign--$250,000?

This reminds me of an old joke.

A man approaches a woman at a party.

Man: "Will you sleep with me for a million dollars?"

Woman: (pauses) "Well that amount of money would change my life. I feel forced to say yes."

Man: "OK, will you sleep with me for one dollar?"

Woman: "One dollar!? Sir, I am not a whore."

Man: "Miss, we've already determined what you are. We are now just negotiating price."

I think we can safely say Obama is anti-capitalist at heart. The question really is to what degree.


TrackBack

TrackBack URL for this entry:
/cgi-bin/mt-tb.cgi/38911.

Comments (36)

Barry's anti-capitalist in ... (Below threshold)
914:

Barry's anti-capitalist in the 1st degree, unless hes the one deciding what to do with all the capital.

The truly frightening part ... (Below threshold)
Jim Addison:

The truly frightening part isn't that Obama declares there is a line which constitutes a private citizen having made "enough" money.

It's that Obama asserts for himself the authority to decide what it is.

Time was, Americans were free to make such decisions for themselves. Of course that was before the Obammunists took over.

I mean, I do think... (Below threshold)
George Soros:
I mean, I do think at a certain point you've made enough money.

Oh yes? We need to have a little, boy.

Apparently the millions he'... (Below threshold)

Apparently the millions he's making off his books isn't 'enough' since he's not turning down that extra money or handing it over the IRS with a bow on it. Let's parse this just a bit:

I mean, I do think at a certain point you've made enough money.

I see...there's a point where "you" as in "us" have made enough...probably, oh, $200,000 or so. That same point does not apply to him and Congress and his administration, etc...just "you/us".

Gotcha. Remember in November, folks, if you think there's a point where Obama can decide "you've made enough money". Of course if Uncle Sam is going to pay for retirement, health care, education, cars, unicorn chow, houses, and a chicken in every garage then we really don't need any of that ugly "money" stuff, anyway, right?

Personally, I'm so uplifted, I just want to take the idea I have for a startup, pour my blood, sweat, and tears into it as well as a few years of my life, eventually build it up to be a success and hire some fellow Americans and hope to earn..."enough money". Damn, that man is inspiring! Somebody get me a couple dozen lapel flag pins!

"How many of Obama's advisors have to be exposed as communists and Marxists before some of the duller-witted among us admit not only that there is a pattern here, but that it is deliberate, and reflects the leanings of the White House?" -Laura Hollis

"I mean, I do think at a... (Below threshold)
914:

"I mean, I do think at a certain point you've made enough money."

Why yes your lordship, by all means take away my treasure , my sweat and labor, my rest, my security. By all means your highness that is such a recipe for success.. I will try to work so much harder to give all to you your worshipfulness.

pffff

You need a BIG bus to throw... (Below threshold)
Roy:

You need a BIG bus to throw Oprah under it.

"I want to be clear...that ... (Below threshold)
Big Mo:

"I want to be clear...that I will contradict myself in the very next sentence."

"I think we can safely say ... (Below threshold)
alanstorm:

"I think we can safely say Obama is anti-capitalist at heart."

This has been blatantly obvious for almost 3 years now.

It's the lack of self-aware... (Below threshold)
Joe Miller:

It's the lack of self-awareness that has me slack-jawed. I have a relative who, between her and her husband, bring down a mid-six-figure income. They own a home and a separate ski condo in Colorado. She despises the "rich."

Hopefully Congress will aut... (Below threshold)
Justrand:

Hopefully Congress will authorize a new "Department of All Your Business Belong to Us" soon.

I am SOOOOO tired of making decisions in my life, and SOOOO tired of worrying if I have too much money...or if someone ELSE has more!!

I do hope they authorize "tip-lines" where we can rat out our neighbors if they appear to have more than they need!!

Ah, so the Chicago messiah ... (Below threshold)
Don L:

Ah, so the Chicago messiah finally plays the "envy" card. No wonder they hate Christians -they remind them that the "soak the rich" party is birthed in sin.

Guessing that Barry, the gu... (Below threshold)
GarandFan:

Guessing that Barry, the guy with 'the high IQ' gets to decide WHO makes HOW MUCH. Let me guess, if your WHITE, you're screwed.

Does Waters and her husband MAKE TOO MUCH on their Mercedes dealerships? How about Raines? I don't recall hearing Barry complain about the 6 MILLION "evil" bonus Ranies got.

So come on Barry, MAKE YOURSELF PERFECTLY CLEAR.

I wonder when George Soros ... (Below threshold)
Matt:

I wonder when George Soros or Oprah Winfrey will decide they've made enough?

Who am I to quibble with Ob... (Below threshold)
Maddog:

Who am I to quibble with Obama?

I propose that we accept his pronouncement and enact a law under, which all politically elected federal employees making a salary of $400,000 as of April 28, 2010 would be taxed subject to the current IRS code for salary, travel expenses, benefits, etc. accruing and paid pursuant to federal employment. Any further income would be taxed at 100% of income from whatever source derived without possibility of deduction or credit.

Upon retirement said employee's pension, travel and franking privileges would be taxed under the IRS code. Any additional income would be taxed at 100% of income from whatever source derived without possibility of deduction or credit.

Any takers?

Mark

"I mean, I do think at a ce... (Below threshold)
bobdog:

"I mean, I do think at a certain point you've made enough money."

He clearly misspoke. What he MEANT to say was:

"I mean, I do think at a certain point you people have made enough money."

And the way I read it, he means to do something about that.

Ya gotta be frickin' nuanced, folks.

I think we can safely sa... (Below threshold)
Clay:

I think we can safely say Obama is anti-capitalist at heart. The question really is to what degree.

Sorry, but I disagree. This is like asking a woman how pregnant she is. Our problem is that we have bought into the mixed-economy crap to the point that our economy hasn't been capitalistic since before the time of our grandparents. Our economy is now based on mercantilism, that cozy little affair between government and business. Of course Obama is one-hundred-percent anti-capitalist. But, so are the majority of politicians in office today. Capitalism flies in the face of politicians of all stripes, since it is about restricting what they do for a living by giving the people more freedom. Hey, it sounds like the founders were capitalists. Yeah. They were.

He obviously has trouble co... (Below threshold)

He obviously has trouble counting past nine. Tenth Amendment? Tenth Commandment? Never heard of either of them.

examples -- George S... (Below threshold)
macofromoc:


examples -- George Soros???

Oprah Winfrey???

Noam Chompsky???

Sean Penn???

Didn't the Jug-Eared Douche... (Below threshold)
apb:

Didn't the Jug-Eared Douche make about $5.5 Mil last year? What does the unicorned numb-nut recommend for a limit when "you've made enough money?"

APB -Depends wheth... (Below threshold)
JLawson:

APB -

Depends whether you're Inner Party, Outer Party, or one of the Proles.

If you're one of the Inner Party, (like Edwards, Clinton, Gore, Pelosi, and Reid) you can earn (and spend) as much as you want, and do anything you want. Nobody will dare to say anything about anything you do.

If you're Outer Party, (think high-ranking Repubs) you've got to be very careful about your lifestyle, what you say or do. Low key, inconspicuous, draw no attention.

If you're a Prole, you're supposed to be virtuously poor, supporting the Inner Party through your labor. As a prole, you're doing good to be able to afford a clapped out pickup and a used doublewide.

According to 1984, 85% of the population were proles.

"I think we can safely say ... (Below threshold)
Bob:

"I think we can safely say Obama is anti-capitalist at heart." I was going to say Obama is anti-capitalist at heart and soul - but that would imply this slimy, dishonest, opportunistic sack of crap has a soul.

Do liberal Hollywood actors... (Below threshold)
dnb:

Do liberal Hollywood actors make too much? Just asking.

"Do liberal Hollywood ac... (Below threshold)
914:

"Do liberal Hollywood actors make too much? Just asking."

Do liberal agitators scam too much?

I know, stupid supposition.

if $250,000 is 'rich' and '... (Below threshold)
Ryan:

if $250,000 is 'rich' and 'too much money' then why is he still letting himself, as president, pull down a salary of $400,000 a year?

There's a saying out there ... (Below threshold)
Oyster:

There's a saying out there that in effect says to beware of those who demonize money for they are looters.

It's interesting to see how... (Below threshold)
Rance:

It's interesting to see how this clip was edited by "RealClearPolitics".


If you look at the rest of what he said after the clip:

I mean, I do think at a certain point you've made enough money. (Laughter.) But part of the American way is you can just keep on making it if you're providing a good product or you're providing a good service. We don't want people to stop fulfilling the core responsibilities of the financial system to help grow the economy.

I've said this before. I've said this on Wall Street just last week. I believe in the power of the free market. And I believe in a strong financial system. And when it's working right, financial institutions, they help make possible families buying homes, and businesses growing, and new ideas taking flight. An entrepreneur may have a great idea, but he may need to borrow some money to make it happen. It would be hard for a lot of us to buy a house -- our first house, at least, if we weren't able to take out a mortgage.

So there's nothing wrong with a financial system that helps the economy expand. And there are a lot of good people in the financial industry who are doing things the right way. And it's in our interest when those firms are strong and when they're healthy.

But some of these institutions that operated irresponsibly, they're not just threatening themselves -- they threaten the whole economy. And they threaten your dreams, your prospects, everything that you worked so hard to build.

So we just want them to operate in a way that's fair and honest and in the open, so that we don't have to go through what we've already gone through.

--


Does anyone here disagree that you've made enough money when you've run out of legal ways to do it and have to cross over into illegal areas to make more?

Rance, how does someone "ru... (Below threshold)

Rance, how does someone "run out" of legal ways to make money?

The way it works more likely is that somebody high up in the government has decided you haven't been generous enough with the campaign dollars, so they declare illegal something that's been perfectly legal and perfectly honest for years.

McGehee,It's not a... (Below threshold)
Rance:

McGehee,

It's not about running out of any legal way to make more money, it's running out of ways to make more money within the area of your business. When the mortgage industry ran out of people who could actually qualify for a mortgage, they could have always made more money by say, opening a frozen yogurt franchise. Instead, they made questionable loans. Firms like Goldman-Sachs then packaged that junk and sold it a safe investment. That's when they all go into the area of making too much money.

Rather than accepting the p... (Below threshold)
Jerry in Detroit:

Rather than accepting the propaganda phrase, "Taxing the Rich", the proper response should be, "How will taking money from employers help anyone other that Beltway Bandits?"

"But some of these institut... (Below threshold)
apb:

"But some of these institutions that operated irresponsibly, they're not just threatening themselves -- they threaten the whole economy."

Hey, Rance - wouldn't that define the Federal Government?

JLawson - thanks for the laugh! I LOVE being a virtuous prole...

"Does anyone here... (Below threshold)
914:


"Does anyone here disagree that you've made enough money when you've run out of legal ways to do it and have to cross over into illegal areas to make more?"

Doesn't seem to bother Barry or Algore any?

It's not about ... (Below threshold)
It's not about running out of any legal way to make more money
Here's what you said:
you've made enough money when you've run out of legal ways to do it
So how is it not about WHAT YOU SAID IT WAS ABOUT?
Dan said: "It is in essence... (Below threshold)
pa:

Dan said: "It is in essence arguing that at 100% tax bracket is appropriate."

Don't forget: Obama's dear old dad was an economist in Kenya. His recommendation really was a tax rate of 100% -- for everybody, not just the rich (a category that simply cannot exist at a 100% tax rate anyway).

Precisely. SOcialist way: ... (Below threshold)
Ryan:

Precisely. SOcialist way: Make mroe and more ways of making money illegal and eventually you can get excuses to take it. Make any result where one person gains a big advantage over someone else illegal and then talk about how you have to break the law to make that money - after all, if it were legal their couldn't be a large disparity of results. . .etcetera.

We're not, we're not trying... (Below threshold)
Ryan:

We're not, we're not trying to push financial reform because we begrudge success that's fairly earned. I mean, I do think at a certain point you've made enough money. But, you know, part of the American way is, you know, you can just keep on making it if you're providing a good product or providing good service. We don't want people to stop, ah, fulfilling the core responsibilities of the financial system to help grow our economy.

Where in that is he talking about illegal ways to make money?

We are being exposed to the... (Below threshold)
T NOON:

We are being exposed to the new royalty...where a single person or oligarchy decides what is "fair" or "enough". Property rights have been watered down to near zero under the banner of environmentalism. Wealth is being cast as the great Satan and the source of all evil. this group thinks of the pie as a fixed size and so, whenever someone gets "more than enough", it must only be due to stealing it from someone else. Hence, poverty is a logical result of wealth. Like every other liberal argument, it fails when addressed by the facts....like that the wealth in this country today (generated by this unfair system) is roughly 13X what it was per capita in the United States in 1800. We are all better off due to the ability of risk capital and ideas meeting one another and being allowed to fail or succeed with a central government deciding who fails and succeeds and to what extent.




Advertisements









rightads.gif

beltwaybloggers.gif

insiderslogo.jpg

mba_blue.gif

Follow Wizbang

Follow Wizbang on FacebookFollow Wizbang on TwitterSubscribe to Wizbang feedWizbang Mobile

Contact

Send e-mail tips to us:

[email protected]

Fresh Links

Credits

Section Editor: Maggie Whitton

Editors: Jay Tea, Lorie Byrd, Kim Priestap, DJ Drummond, Michael Laprarie, Baron Von Ottomatic, Shawn Mallow, Rick, Dan Karipides, Michael Avitablile, Charlie Quidnunc, Steve Schippert

Emeritus: Paul, Mary Katherine Ham, Jim Addison, Alexander K. McClure, Cassy Fiano, Bill Jempty, John Stansbury, Rob Port

In Memorium: HughS

All original content copyright © 2003-2010 by Wizbang®, LLC. All rights reserved. Wizbang® is a registered service mark.

Powered by Movable Type Pro 4.361

Hosting by ServInt

Ratings on this site are powered by the Ajax Ratings Pro plugin for Movable Type.

Search on this site is powered by the FastSearch plugin for Movable Type.

Blogrolls on this site are powered by the MT-Blogroll.

Temporary site design is based on Cutline and Cutline for MT. Graphics by Apothegm Designs.

Author Login



Terms Of Service

DCMA Compliance Notice

Privacy Policy