Obama Socialism

You can tell a socialist by how he oppresses the rich. Just look at the statistics released by the US Commerce department and see how Obama with two bare hands is strangling the rich in America. He is robbing them of their well-deserved earnings...

From an article in Slate by Daniel Gross:

The headline number from the quarterly GDP report released by the Commerce department last Friday was the sorry 1.6 percent growth rate of the economy in the second quarter. But the release also provided detailed data on corporate profits. And while the GDP number was disappointing, the latter was impressive. Corporate profits, which stood at $1.5 trillion in 2007, fell sharply to $1.26 trillion and essentially stagnated in 2009. But since the Obama presidency started, the trajectory in quarterly profits has reversed. Quarterly profits (reported at an annualized rate) rose from $1.18 trillion in the 2009 second quarter to $1.42 trillion in the fourth quarter of 2009 to $1.64 trillion in the second quarter of 2010. In the second quarter of 2010, corporate profits were up 39.2 percent from the year-before quarter.

Oh gosh... you can tell that Daniel Gross has no sympathy for the claim that Obama socialism is killing the entrepreneurial class in America. His article has the title "CEO Crybabies:
Corporate bosses are whining, even though they're reporting record profits."

Gross also asks (and answers) his own questions:

Why is corporate America doing well when so many powerful forces seem to be arrayed against it? Some sectors are benefiting from government policy. Banks are profiting from low interest rates and the ongoing federal subsidies and guarantees. Even as the industry squawks loudly about demonization and tough regulation, banks just reported their best quarter results in three years, according to the FDIC.

Yep... "socialist" Obama is shoveling taxpayer money into the maw of big business. Obama is robbing the poor to help make the rich even richer and all the time the rich in America are freaking out with the claim that Obama is a "socialist". Yeah... he's what is called a "lemon socialist", i.e. let the profits go to the rich and when there is a downturn, tax the poor to ensure that profits still go to the rich.

Here's how Daniel Gross summarizes the situation in the US:

Corporate profits have largely recovered to pre-crisis levels. A disproportionate share of economic growth is finding its way into the coffers of corporate America. CEOs are in an extremely strong negotiating position vis-à-vis their employees. And yet America's bosses think they are members of an oppressed minority.