Confessions of an unapologetic free-market capitalist

Why has Obamanomics failed?

Dr. Milton Wolf says blame him, not Obama:

I have become the single greatest impediment to Americans’ prosperity in Obamaworld: a high-wage earner. That I clawed my way toward the American dream with humbling jobs since the age of 12, volunteered for a grinding decade of medical training and lived more of my adult years deep in the bottom rungs of incomes than the top, I know now, is no excuse. Obamanomics is about spreading the wealth, not creating it. In my defense, wildly increased taxes, stifling malpractice insurance and even steep medical school loans have worked wonders to erase the gains. Still, Mr. Obama claims that families earning more than $250,000 a year are “millionaires and billionaires.” Who knew? Those tax-free corporate jets can’t be far behind.

Of course, I’m not alone. Tens of millions of Americans are frustrating the socialist aspirations of this president simply by getting up each morning and going to work. You know who you are. You’re not just suckers, you’re saboteurs. Barack Obama would prefer we all be wards of the state rather than active producers. How else can you explain the incentives he champions: endless jobless benefits, cradle-to-grave welfare handouts, “tax cuts” for non-taxpayers, and on and on. Thus proclaims the president who himself raked in a cool $7.2 million over the past two years, “I do think at a certain point you’ve made enough money.” The key word there is “you.”

Obamanomics hasn’t failed America; we’ve failed it. We refused to become the wards of the state as it demands. I cling (though not bitterly) to my belief that America would be better served if Barack Obama concentrated more on spreading my work ethic than my wealth. I now realize that by serving my community rather than organizing it, by creating jobs and wealth and by holding dear the American dream, I have sabotaged Obamanomics. I hope America will forgive me.