The Magic of Obamanomics

Using the power of Obamanomics, Chairman Zero could seize half of your property and redistribute it to Henrietta Hughes without taxing you a penny. Here’s how it works:

Say Group A works hard and has created $1 trillion in wealth out of nothing. Group B smokes crack and watches Oprah, and doesn’t create any wealth at all. It receives food stamps, welfare, subsidized housing, et cetera, ad nauseam, but say Group B has no more wealth than it creates. If Chairman Zero wants to spread the wealth around so that both groups have the same amount, he doesn’t have to take half a $trillion from Group A. All he needs to do is give Group B $1 trillion dollars that doesn’t exist in the form of mortgage bailouts and stimulus packages.

Since the money doesn’t exist, the government will have to print it. Instead of $1 trillion dollars, there is now $2 trillion that represents $1 trillion of actual wealth. By making money worth half as much, Obama has effectively seized half of what Group A worked to create.

But there’s no reason Group B should settle for only half of the wealth. After all, it suffers oppression. This is why Obama is passing out more money than exists in the entire economy.

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Just because Obama doesn’t need to tax us doesn’t mean that he won’t. Taxes will be going up, because higher taxes are a form of social justice. But there will be tax cuts for some — namely, those who don’t pay any taxes. Some of their welfare handouts will be renamed “tax rebates.”

To paraphrase Tom Brokaw: Take that, America!

Cross-posted at Moonbattery.

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