Team Obama- "Race to the Bottom"

Team Obama may have found their new campaign slogan. Gene Sperling, Director of the White House National Economic Council, is pushing for a new source of revenue: a global tax. Just on what and on who isn't clear yet, because what Director Sperling calls the "gory details" have yet to be worked out. National Review included a clipof Rep. Ryan discussing Obama's 2013 budget; it includes calls for nearly $1.5 Trillion in new entitlement spending and nearly $2 Trillion in taxes, so you can be sure the details will be gory. And you can be certain you will feel the most pain if you are a wage earner, and not that staple of the Democrat voter base, the entitlement bought-and-paid-for Liberal.

At any rate, Director Sperling thinks the problem of capital flight can be addressed with (surprise!) more taxes, saying, “We need a global minimum tax so that people have the assurance that nobody is escaping doing their fair share as part of a race to the bottom or having our tax code actually subsidize and facilitate people moving their funds to tax havens.”

America is already having a problem with the wealthy leaving the country because they view the tax burden as onerous and disproportionate. And we are talking about the real 1% here, the 1% that actually has wealth, not the top wage earners who are typically substituted by verbal sleight of hand when the Administration, Occupy Welfare Services, and media folks weigh in with their "fairness" talk. 

Yet that isn't the really interesting part of the quote. Class warfare, massive government regulation and spending coupled with economy-crushing taxation has always been de rigueur for Obama; it is part of the Obama prescription for all the "little people." Probably along with an Obamacare prescription for 1984's mind-numbing drug, Soma.

No, what is interesting is Sperling's comment that nobody should escape their fair share of the "race to the bottom." It seems to be a fundamental attitude, a core belief, to Team Obama that America must be reduced to third-world status. And Obama is in a hurry to win this "race to the bottom." He has always sought to drive up the price of motor fuels to European levels, and look at the price of gasoline since he took over. It has nearly doubled, but the media doesn't seem to notice, and it certainly isn't Obama's "fault." If it's anyone's "fault," it is obviously and always former President Bush's. Obama has also worked to shut down electrical generation plants, and has quietly instituted burdensome and expensive regulations toward this end. And the EPA is working to regulate the average American's carbon footprint to pre-industrial levels.

The goals of Obama and his liberal supporters, particularly those seeking to move America down into Quadrants III or IV (the socialist quadrants, as explained elsewhere on this site), demands that the average American live a virtually pre-industrial lifestyle. Obama's only shortcoming, in the view of his socialist cadres, is that he isn't moving fast enough toward these goals. For Obama and his cronies, it truly is a "race to the bottom," not for them, of course, but for everyone else. Everyone else needs to pay higher taxes, everyone else needs to be tightly regulated, everyone else needs to do without so that the climate can be saved- for the benefit of Obama and his fellow elites.

For Team Obama, "Race to the Bottom" would probably the most accurate campaign slogan that could be applied to the Obama 2012 campaign. Who knows, maybe it can replace his current slogan, "It's not my fault."