More Obama Atrocities

Some of my readers have informed me that my prior commentary about Elizabeth Warren and the Consumer Financial Protection Bureau was too technical. So this commentary will skip the mechanics and discuss only the outcomes of Obama’s planned limits on retirement account savings.  Its complexity is mind numbing, expensive and with perhaps impossible requirements. It appears analogous to the concept of vague laws that are unenforceable within democratic traditions. Therefore it may entrap citizens and will contribute to the why bother to achieve attitude prevalent among so many young people today.

People’s retirement savings will be vastly reduced. While it is being sold as a tax the rich scheme with its 3.4 million dollar retirement savings cap, a closer look reveals that it could set limits as low as $131,000. Private invested capital within our economy would be vastly reduced.  This leads to lower standards of living, more government borrowing and more dependence upon government. But it does satisfy the lust of the hate the rich crowd while producing relatively meaningless amounts of additional government revenue. 

Over the past few decades all Presidents and all Congresses have done the opposite of Obama. They have produced legislation to make it easier to save for retirement because it is good for the economy, good for the individuals involved and represents the will of the people. Obama, however, “hears a different drummer”.

Obama wanted credit for his appointment of Sonia Sotomayer as the first Hispanic Supreme Court Justice. However, Benjamin Cardozo was the first Hispanic Supreme Court Justice. But truth is never an impediment to Obama. He just changed history like past dictators who erased people from photos and the lapdog media, including government funded PBS, complied. They claimed that he was Portuguese and therefore not Hispanic.  Anyone familiar with that historical period knows that his ancestors fled the Spanish Inquisition to Portugal and then on to the New World as alleged Portuguese. Besides, Mr.Cardozo has a politically incorrect background, his family was wealthy with Revolutionary War heroes among his ancestors.

Is this pattern of Obama’s actions, along with Obamacare and his other programs, becoming clear yet? But Obama’s lucky being black, that makes him harder to confuse with Joseph Stalin. 

Copyright 2013, Mark L. Bennett