Monday, July 16, 2012

Obama is an Economic Imbecile

Just a quick note on Obama's speech. Here is a portion of what he said:
'Somebody invested in roads and bridges. If you've got a business - you didn't build that. Somebody else made that happen.

'The Internet didn't get invented on its own. Government research created the Internet so that all the companies could make money off the Internet.'
This quote right here shows how imbecilic Obama is with regards to how the economy works. Yes, "somebody" invested in those roads and bridges. It's called TAX DOLLARS. Who is that somebody that provided the tax dollars, tax payers. And who are the tax payers? Business! So, business are the ones that invested in those roads and bridges, NOT government. So a business owner not only invested and worked at building their own business, they also invested in the infrastructure that provided access.

Also, what's he talking about on the Internet. He's right, it didn't get invented on its own. Government DID create it. But they did NOT create it so companies could make money off of it. DARPA created ARPANET for the military. They created it so that they could have an interconnected network of computers to keep communications in case of a disaster. ARPANET went on to become the Internet. The only reason the Internet is the way it is now (HTTP and the World Wide Web) is because a frenchman had the idea to create links and images on a page that others could reference for research. None of this was initially intended as a for profit venture.

What Obama's speech over the weekend boils down to is his inability to understand that, in our economy, government does not create wealth. It takes wealth. It may create or destroy the ability for wealth generation by affecting the private industry, but government is a destroyer of wealth as it does not create anything.

One final note, Obama makes this statement:
'You didn't have to worry that marauding bands would come and seize everything at your factory, and hire someone to protect against this, because of the work the rest of us did.'
No, but we are now worried that a marauding band of IRS agents will come and seize everything at our factories. (Gibson Guitars)


Anonymous said...

Obama's profound comments in his speech were reported by UK papers,FOX and conservative websites.

I can not find this speech referenced anywhere on CNN,NBC,ABC,CBS,politico...this is Romney's major challenge. If there is only one US network covering Obama's idiocy then Romney has to somehow find a way to break through the media wall that is protecting Obama.

I find this extremely troubling when a sitting president can control the media and its message the way Obama does.....the media watch dog is did this happen????

Anonymous said...

I agree, leighrow.
It is disturbing indeed.

Anonymous said...

He is an economic idiot, but to be fair, the last quote about "marauding bands" is what Elizabeth Warren, the phony Indian, said several months ago in her bid for a Senate seat against Scott Brown. But Obama did lift the "roads and bridges" idea from her. I guess great minds think alike. Huh.

Anonymous said...

perhaps liberal media is not reporting on this because there is nothing to report. it's just faux news taking things out of context.

Anonymous said...

Dont blame me, I voted for Newt.

Donald Taylor said...

Thank you for the blog post. I keep shouting at my radio and computer and to everyone around me. What business pays no taxes? Business owners don't do it along; and they don't claim they do.

We are all grateful for roads and for other infrastructure; and we pay society with a graduated tax structure that charges a higher cost share to those who make more money. The top 20-percent pay 60% of the tax burden. Is that a "fair share?"

I really think people (the folks) should start shouting-down this falsehood. Its a load of horse shit--The tax system is already structured to make the wealthy pay more.

Why not take all the wealth? Why? Because we have an incentive system. And the government sucks at creating wealth.

Machtyn said...

What Obama's speech over the weekend boils down to is his inability to understand that, in our economy, government does not create wealth.

Or, perhaps, he understands all too well. And his purpose is to turn us into a socialist economy. One where government owns industry and profits from it. But then we have no advocate from our employer, because our employer is government. Would have to unionize, but who are the Unions going to side with? The palms they've been greasing for the past 40 years.