Is Obama Creating A Socialist Nation?

Real Estate Agent with Real Living Spectrum Real Estate

Normally I prefer to keep politics off of this blog and concentrate on real estate. However, when we have a government that is moving us closer and closer to a socialist nation I simply have to make a few points. It's the history and government teacher in me that causes this to happen.

President Obama has presented a budget that increases our deficit and our national debt. In the process he leans heavily on taxing those he refers to as the rich. Now given the plain and simple fact that his numbers do not work, we will increase the taxes on the top 2% of the tax payers, his budget will fall flat on its face unless he finds more "rich people" You are going to be surprised at how soon you will be a rich person in the eyes of the government.

The attempt to redistribute the wealth in this nation is not new. Years ago the major news magazines, Time, Newsweek, and US News and World Report, looked at the effect of confiscating 95% of the income of the wealthy to pay off our deficit. It did not even come close to resolving the issue. A week or two ago Mayor Bloomberg of New York City asked the folks in Albany to be careful about raising taxes. Bloomberg is not shy about raising taxes. Why did he want the state to hold the line? Bloomberg pointed out that the city he governs is pretty much held together with the revenue obtained from about 40 thousand inhabitants of the city. He fears that all or part of this wealth could flee the city if the taxes go up. In fact Bloomberg said that if only 10 thousand left there could be trouble in NYC.

This morning, February 27, 2009, the news is reporting that the economy contracted again with the GDP down 6.2% in the fourth quarter. Let me point out that the blame for this lies squarely on the shoulders of both political parties and the executives who represented them. It is not just Bush's problem because it goes back to the Carter administration and the passage of the community Reinvestment Act. It grew, according to the September 30, 1999 edition of the New York Times, under the Clinton Administration that put pressure on the banks, specifically Fannie Mae, "to expand mortgage loans among low and moderate income people...."

Folks, we have a huge problem on our hands. This president is bent on spending and the development of new programs that are failures all over the world. He is out to destroy the rich and will take out the middle class with his policies. It is time for a chnage yet again. Remember that as we head toward 2010.

Comments (22)

South Austin Real Estate Blog
Sky Realty South Austin - Austin, TX

 I have heard recently of Millionaires moving themselves and their money out of the USA.  Take away the incentive to earn, by over taxing, and people will either shelter that income or stop producing it.  Then who will pay for those wonderful all inclusive programs? 

Feb 27, 2009 12:23 AM
Rosalinda Morgan
Brookville, NY
"The Rose Lady"

Chris - A great post.  It's time the nation wakes up that the leader of the free world is leaning toward a Socialist government.  It's time for another "Change". 

Feb 27, 2009 12:33 AM
Andrew Mooers | 207.532.6573
Northern Maine Real Estate-Aroostook County Broker

In this country it is becoming a sin to be rich, successful and there is an animosity thru out the rhetoric saying for too long, the rich have had it coming and now they are in the gun cross hairs.  America used to be hard work, free enterprise and the realization businesses have to make a profit to retool, invest, train workers, weather the hard times with all the government red tape and taxes already on them.  If they are successful, let them make money, and keep some to stimulate the economy from the outside in not inside government that is growing larger and larger out.

Feb 27, 2009 12:33 AM
Mark Watterson
Salt Lake City, UT
Utah Real Estate

I have been drafting a blog.  To Big to Fail = Socialism.  No business should be allowed to grow  to the point it's too big to fail (for competitive and economy reasons) and has to been bailout, they should be allow to fail, all of them.  We have been on the socialism track, way before Obama.  The current policies are just maintaining the course. 

Feb 27, 2009 12:38 AM
Kate Bourland
Marketing with Kate - Redding, CA
Onlilne Marketing Mobile Marketing

These kind of posts claiming that the sky is falling disturb me.  We are America, We are American's - when the pendumlum swings too far one way we push it back the other way.

The message here is that extremes on either end cannot be maintained.  Extreme Capitalism, the kind we have lived under for the past eight years, creates market collapse.  If at the end of the day, Obama's plan is too extreme, we'll push it back and replace him in four years.

Do I like what I see coming out of the Obama camp, no.  I just donh't think that the sky is falling.

Feb 27, 2009 12:46 AM
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

The sky IS falling..every day. Every day the stock market is falling, wealth is being destoyed , capitalism is being replaced and debate and opposition silenced. you know that the Democrats in the House do not allow debate on any of these actions? They don't want the American people to hear opposite opinions.

Americans are not stupid, but they don't always pay attention. I'm afraid by the time this great mistake is realized, we will be too far gone.

I am positioning myself. California just raised it's sales tax to close to 10%, so I buy online now, I am moving some trusts Australia and am planning a visit in June to buy some property...they don't seem to be caught up in the crazies of the rest of the world. So sad I can't raise my children in the United States I loved.

Feb 27, 2009 12:55 AM
Matt Listro
National Credit Fixers - Matt Listro - Vernon, CT
Your Credit Repair Expert

It was the socialistic programs that got us out of the great depression last century - if they work again great - then we can ween them back later.



Feb 27, 2009 01:08 AM
Kate Bourland
Marketing with Kate - Redding, CA
Onlilne Marketing Mobile Marketing

Karen, interesting - so rather than fight for the country you love, you're going to pack up your toys and leave??

This is not Democrats faoult, This is not Rebublicans fault.  It is the fault of BOTH DEMOCRATS and REPUBLICANS.

The only reason that we are left out is because we as Americans insist on only electing Democrats or Republicans.  We need a third party - we need mass exodus from both parties so that there is no clear majority party.  Than and only then will change take place!

Feb 27, 2009 01:16 AM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

National credit thanks.....When I get my personal level of wealth created, I've looked into getting my money out of this country.  If I earned it, and am acting legally and ethically, I need to protect it....not have some socialist take it away and give it to some who want to sit on their asses and wait for me to pay them.  There are hard luck situations for people and they need to be helped, but c'mon guys.....he wants two classes...everyone in 1 lower middle class and then the aristocracy.

Feb 27, 2009 01:21 AM
Associate Broker Falmouth MA Cape Cod Heath Coker - Falmouth, MA
Heath Coker Berkshire Hathaway HS Robert Paul Prop

The O man can not move in any direction without the other 400 or so decision makes in Washington DC agreeing.  In many decision areas, they stonewalled the last prez to get us to the point we are in now. 

Feb 27, 2009 01:22 AM
Jon May
East West Realty at Eagle harbor - Carrollton, VA

During the election season my 15 year old, straight A student,  son asked me how I felt about Obamas policies.  I said son, look at it this way.  If at the end of the school year your teacher walked in the class and said "to be fair to everyone, I am going to take some of the points earned by the A students and give them to the C students so everyone in the class will get B's" how would that make you feel?

His obvious answer was that it would be very upsetting.  It's the same thing.

I think more damage could be done to the psyche of the people.  They will completely remove the motivation from the self starter.  They will enable those that don't aspire to better themselves.

Another thing that is concerning is the complete disregardfor the constitution that the President has sworn to uphold.  Income tax is unconstitutional and immoral.


Feb 27, 2009 01:31 AM
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Kate.....yes you are exactly right....I am picking up my toys and leaving. I did fight for my country and warned people about this past election. I was outvoted....Ok. So the Socialism I warned about came true. I don't have to subject my family to the failiing policies of the next Depression. We have a way out of this....Carter left us in a much worse situation and Reagan turned that around in his first term. But the Democrats in power want to pay back their supporters and pretend to help the middle class. I think a $2,000,000 of target tax breaks to a company to reinvest and add jobs is a much better use of our money than the $13/week Obama says the average family will get. Would you rather have a job? or a Mc Donald's meal?

And...this mess will get turned around in the next election...which is only 2 years away, not four.

Feb 27, 2009 01:36 AM
Robert L. Brown - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic

This is a problem the President inherited. He's trying to fix what as aleady broken.Whatever direction he takes will be unpopular with some percentage of the people. We have to get behind him as we did when Bush was the President for 8 years. Remember they are human just like you and me. Let's not hold him to a different standard as the previous 43.

Feb 27, 2009 02:12 AM
Terry Chenier
Homelife Glenayre Realty - Mission, BC

I've been following this closely for some time now; what is any leader to do! This is totally unchartered territory! We've talked up here for a long time about a "flat Tax"; that's all it is-talk.

Feb 27, 2009 03:01 AM
Kate Bourland
Marketing with Kate - Redding, CA
Onlilne Marketing Mobile Marketing

Karen, the only way that this will change in two years is if you and I, and everyone reading this, have the courage to vote independent in the next election.  Switching the leadership from Democrat to Republican does nothing.  We have to change one of the ingredients. 

Our founding fathers never intended for this country to have a two party system.  It was designed to be a multi-party system. We have to break up the "majority" so that common sense can rule.

As for Reagan.  I just don't get why people think he was so great.  Yes Carter was ineffective and Reagan's first term was prosperous.  Why is that no mentions that Reagan's 2nd term brought us the Savings and Loan Crisis?

Seems to me that "Reaganomics" works in short bursts.  If left in place too long it results in major financial meltdown!

Feb 27, 2009 03:12 AM
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Kate....there is no viable 3rd party, And I have no desire to leave the one I'm a part of. That's just more of "change for the sake of change" that has gotten us into this new administration.

History is that the Carter Administration left Reagan with the S & L Crisis, massive inflation, double digit interest rates and double digit unemployment. Reagan SOLVED these problems without the pork, but cutting tax rates and by common sense....not the massive spending going on right now.

And the S & L Crisis was 1980-1983....not the second term.

Feb 27, 2009 04:05 AM
Kate Bourland
Marketing with Kate - Redding, CA
Onlilne Marketing Mobile Marketing

Karen, actually Reagan inacted the Garn-St. Germain Depository Institutions Act of 1982, which was designed to make S&Ls more competitive and more solvent. S&Ls could now pay higher market rates for deposits, borrow money from the Federal Reserve, make commercial loans, and issue credit cards.  They were also able to buy and hold interest in real estate for the first time.

It was this act, combined with the deregulation of the S&L's that resulted in the economic meltdown of the late 80's and early 90's. 

The S&L crisis was a direct result of lack of government oversight during the Reagan administration that allowed it to happen. 

Feb 27, 2009 04:29 AM
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

And isn't it interesting that he didn't do it by raising taxes. But I guess Obama thinks it's ok for me to pay for everyone's mortgage, college, health care and tattoo removal...and you wonder why I'm moving my wealth off-shore, buying things online and thinking of moving to Australia...I'll follow Capitalism where ever we can still find it. But if I had wanted to live in the Soviet Union...I'd have moved there a long time ago. But remember what's coming. When Socialism does the economy and the spirit of the country.

But I have faith that at some point...hopefully 2 years, Americans will overcome the euphoria....and vote for common sense and pay attention to the economists and fix things.

I'm glad you are happy and enjoying this....if you wake up hopeful....that's great. But I wake up scared and am making plans.

Feb 27, 2009 04:44 AM
Bob Sloop, Consultant, Indianapolis, IN
RS Mortgage Consulting - Indianapolis, IN

I agree with this post, and am frankly sick and tired of hearing how we are going to correct the situation by spending, costing us more money that our grandchildren will be paying for.  There is no quick fix to this problem.  We saw it coming for five long years at least, and no one did a thing to fix it.  We are in trouble, face it, it is here now, we are not going to pull out of this soon. 

Feb 28, 2009 06:44 AM
Jeff Stinson
Kasteel Property Management - Property Manager - Springville, UT

When my wife and I watched the State of the Union we were really impressed with Obama's grasp of the economy and we are excited to tell everyone we decided to apply Obama's tactics to fix the country's financial problems to our own personal finances.  Our finances have been a little tight lately and we are confident that we can fix them by following Obama's lead.  We have decided to make a budget that will cut unnecessary spending, reduce over spending, and we'll make the hard decisions to eliminate expensive things we can live without. 

But as Obama clearly stated, we should start next year because, "that's how budgets work".  By following Obama's plan we should also spend, spend, spend this year to prepare for the budget next year.  It's a great plan - I don't see how it could fail. 

P.s.  This is a joke.  Just as Obama's plan is a joke.

Feb 04, 2010 02:07 PM

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