In his annual State of the Union address of Tuesday, President Obama promised a slew of expensive goodies for the middle class.“Free” college for young Americans with diminished employment prospects.
Insisting the “shadow of crisis has passed” despite non-government stats and analysis casting serious doubt on this claim, Obama promised “free” community college, expanding tax credits up to $3,000 per child, and $300 billion over ten years in capital gains tax increases and other taxation schemes imposed on the “wealthy,” that is to say the producers.
See a breakdown of Obama’s proposed tax increases at the Americans for Tax Reform website.
Echoing the now popular income inequality meme pushed by collectivist Democrats, Obama’s speech called for involuntary redistribution of wealth, in other words wholesale theft.
“A thief who gives away some of his stolen loot is still a thief,” writes Dominick T. Armentano, “moreover, those who receive stolen property and knowingly benefit from it are just as morally bankrupt as the thief.”
Since the government cannot possibly fund this giveaway through taxation, it will increase the national debt to pay for it.
As of the 15th of this month, the national debt, according to federal government figures, stood at an astounding $18.1 trillion. The number was $10.6 trillion when Obama took office.
The number is far higher when off-budget liabilities are taken into consideration. The debt is actually more than $200 trillion.
Republicans, who now control Congress, are unlikely to pass Obama’s SOTU giveaway.
Many Americans see Obama’s proposals for what they are — a brazen attempt to rally Democrats and satiate their socialist, collectivist and class warfare instincts now that Republicans stand in the way of growing the entitlement state.