The President has thrown down the gauntlet.
He has unequivocally drawn the line between the haves and the have-nots.
He told Congress that large pockets of wealth mean “the perpetuation of great and undesirable concentration of control in a relatively few individuals over the employment and welfare of many, many others.”
The President recognized that he was in trouble with not only the independents but also his wavering supporters.
What better way to charge into the coming election year than to promote class warfare?
After all, with unemployment unabating and hope slipping away, what better strategy than turn the responsibility to others.
The group of people conferring for the past several months could not come up with a solution that was agreeable to the President. But, strategically, that would help the President politically by releasing him from policies that have not been working and give him the opportunity to blame the failure to achieve recovery on others who have special ties to that select few.
In the most recent tax message to Congress, the President has once again decided to pay for his proposals by increasing taxes on the wealthy.
The President told a newspaper representative that it might “be necessary to throw to the wolves the people who have incomes in excess of $1 million a year.”
It seems the President is going to make this election one of “us” against “them” and he clearly wants to paint himself as one of “us.”
The “them” I refer to are the wealthy as defined by the President and his colleagues. It appears that after having a cozy relationship for the past few years and enjoying the financial largesse the wealthy could offer, it was now time to choose sides.
Who to alienate was simple, just count the votes.
As the President moves further to the left, his decisions are not being driven by ideology or philosophy since it’s been shown that he is neither an economist nor a philosopher, he is a pragmatic politician.
So, what can we expect up to election day? More of the same? Emphatically, yes!
As the President trots around the country and paints the past failures as failures of others, he urges us to remember that he’s just getting started and together we can solve all our problems by overcoming “them.”
Contrary to what you think, the preceding analysis was not about Barack Obama in 2010.
This was about Franklin D. Roosevelt in 1935 in preparation for his re-election in 1936.
Could history repeat itself?
Along with his 40-years of dedication in the financial services industry, Bill is the President and CEO of GPSforLife, has recently authored a highly successful book entitled 44th: A Presidential Conspiracy, publishes his dynamic monthly financial newsletter MacroProfit, and faithfully continues his third decade on the radio with It’s All About Money, which can be heard weekdays on Money Radio in Phoenix and in podcast form on his website (and on smartphone apps) published at billtatro.com weekdays at 5pm Eastern. Bill can be reached via email at email@example.com and on Twitter @tatroshow.