He has reduced our competitiveness. The accumulation of the additional hundreds if not thousands of regulations his administration has published are taking about a trillion dollars worth of compliance costs out of the economy. I believe this is wrecking capital formation. I can show the cost of compliance is very high but cannot prove that taking a trillion dollars out of the economy is ruining capital accumulation. My instincts say it has a big impact.
He is using executive orders and his executive agencies to bankrupt companies he does not favor. Under his regime the cost of energy has gone way high. Because energy is a costly component for nearly everything we produce we see the cost of food has gone up and the price of a gallon of gasoline has roughly doubled. That also absorbs significant capital that might otherwise be available for capital accumulation.
He is slashing reimbursements to doctors for medicaid and medicare. That is eliminating competition and availability for healthcare services for the old and for the poor.
Tell me more about what you mean when you ask about wage labor. We don't see an end to wages until we arrive at communist utopia do we? If you mean something else please re-ask.
I believe the question behind your question is simpler. If Obama is a Marxist why hasn't he implemented all of the things that a Marxist in power would do? He has willing accomplices in the Congress and on the Courts.
I believe the best answer is that even with a violent revolution things take time. He has not had a violent revolution. But he does have the enormous weight of the administrative state being carried by every business and being paid by each of us. I believe he is wearing us down by the steady drip of both his direct actions and by the actions of the executive agencies.
Obama wishes to raise income tax rates on the wealthy, something that the founder and father of Capitalism, Adam Smith, would have totally supported.
exempt all from taxation below a certain point, and to tax the higher
portions of property in geometric progression as they rise”
~Thomas Jefferson (3rd President of the United States)
People tend to ignore the parts about their heros they dislike.
Last edited by Fiddytree; 09-09-12 at 06:17 PM.
"No religion is true, but some religion, any religion, is politically necessary. Law and morality are insufficient for the large majority of men. Obedience to the law and to the morals are insufficient for making men happy. […]Law and morality are therefore in need of being supplemented by divine rewards and punishments."
He is what we describe as Progressive Conservative.