Friday, January 16, 2009

Obama's Billionaires

by Claire Obusan - January 15th, 2009 - Forbes

Ever since he ran for the Senate in 2004, Barack Obama has had a wealth of 10-figure tycoons advising -- and funding -- him.

Socialism has always been an attractive option for the super rich. That is why the Kennedys and so many other elite super rich families always have been Democrats. Communism is not their idea since that form of government always takes away the money of the super rich. Socialism though, can usually be presuaded to only tax INCOME, not assets. That means those who already have money are delighted to back a system of government that only taxes the newly rich, those who are earning their wealth. That eliminates the competition.

The Republican Party has not noticed at all that corporate executives have also joined in on this bias. Wall Street sees corporations as an element in the super rich. Therefore the people who run the big corporations are just as happy with socialism as the super rich. Government can easily be convinced that they should go after the small and middle sized businesses that are the biggest threat to an existing corporation, leaving the big corporations with no competition. The practice of socialism in protecting the existing corporations against the "creative destruction" of free markets is not new.

The man who originally popularized this reality, Joseph Shumpeter, would recognize the dynamic within the politics of our free market state. Unfortunately, too many Republicans have failed to see what is happening. Big corporations and the super rich have become the enemies of individual freedom which is based on fair competition. Why anyone is surprised that both have flocked to the Obama Presidency is the real surprise.

In fact, George W. Bush and Karl Rove are actually proponents of the same concept, big government and big business working together. However it is just as much socialism when Republicans promote big government domination as it is when Democrats practice big government domination.


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