In today’s Wall Street Journal, Daniel Henninger has it exactly right in the title: It’s a Single-Issue Election. It’s about the economy. Period.
The Fast and Furious business that has engrossed Fox News ’round-the-clock is important, but it’s only a symptom of the real problem. Which is we’ve got a president who seems to believe that he is our Dear Leader, so that whatever he and his administration does it is not to be questioned. More importantly, he seems to believe Marxism is the answer to all our woes. Not called that, of course. He calls it “fairness.”
No, I’m not saying that Obama is a card-carrying communist. Those were his parents; he’s much more careful about who he hangs around with. Oh, right, no, Wright. And Ayers. And Rashid Khalidi. Oh, never mind. The mainstream media pays little attention.
How is Obama a Marxist? It is his class warfare obsession. His apparent belief in the class theory of economics. As in this quotation from his latest speech (has there ever been a president who had so many boring speeches?):
“our North Star—an economy that’s built not from the top down, but from a growing middle class.”
Our “North Star.” How very Dear Leader-like. The essential point isn’t the totalitarian rhetoric, it is the utter misguided notion as shredded by Henninger:
There is no theory anywhere in non-Marxist economics that says growth’s primary engine is a social class. A middle class is the result of growth, not its cause.
It is simple, at least in theory. Remove impediments to private business investment and growth. Excess regulations. Punitive taxation. Get government out of the way, and watch economic growth happen.
It is only sustained and true economic growth in the private sector that will lift substantial numbers into the middle class. Redistributing money with a zero-sum mentality means that some must be punished for others to thrive.
That’s not sustainable. It’s backwards and confuses cause and effect. A growing middle class is the result of growth, not the cause. It’s simple. It bears repeating. It’s true.