Given Obama’s disastrous performance in his first term, what could we expect in Part II, given his promise of “bold, persistent experimentation” and his whispering to our Russian adversaries about having “more flexibility”? The Investor’s Business Daily makes a few predictions, including:
• A “speculation tax” on Wall Street covering all investment transactions.
• A higher capital gains tax rate.
• Amnesty for illegal immigrants.
• Unilateral cuts in the U.S. nuclear arsenal.
• A carbon tax on utilities.
• A special windfall profits tax on oil companies to subsidize renewable energy projects.
• Higher taxes, including a value-added tax, on the middle class for new transfer payments for the poor.
• Suing towns to force public-housing integration of the suburbs.
• Bolstering the Community Reinvestment Act [a primary cause of the 2008 collapse].
• Packing the Supreme Court with leftists.
• Stricter gun control.
• Minimum living wage.
Sound scary? This is nothing. If he could hold onto power despite everyone with an IQ above plant life knowing that whether from incompetence or from malice he has not been acting in the country’s best interests, there’s no reason to expect the 22nd Amendment to stand in his way.
People got tired of being American. They wanted fundamental change. They may get it.
On a tip from Stormfax.